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Technology Stocks : WHME - World Homes, Inc.
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To: jmhollen who wrote (79)6/13/2001 12:50:34 PM
From: peter michaelson  Read Replies (1) of 99
 
More to the point is the false and misleading press releases. John.

sec.gov

COMPLAINT FILED AGAINST WORLD HOMES, INC., MERLE FERGUSON AND SUSAN DONOHUE

A complaint has been filed seeking permanent injunctions against World Homes, Inc. and Merle Ferguson alleging violations of the antifraud and securities registration provisions of the federal securities laws and against Susan Donohue for violations of the securities registration provisions. The complaint also seeks civil money penalties against Ferguson.

The complaint alleges that from approximately January 2000 through February 2001, World Homes, through the company=s President and Chief Executive Officer, Merle Ferguson, distributed several false and misleading press releases misrepresenting, among other things: 1) that World Homes operated and maintained a production facility for its cement product; 2) that World Homes possessed financing of fifteen million dollars; and 3) that World Homes had generated over $480 million in contracted business. It is alleged these false press releases resulted in an increase in the price of World Homes' common stock and an increase
in the volume of shares traded. The complaint alleges this conduct violated Section 17(a) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.
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