Here's another reference although i can't vouch for this one.
ragingbull.lycos.com
and this one......
still blaming the shots...................
CBQ, hit hard, strikes back
By BOB KEAVENEY
Daily Record Business Writer
Printer Friendly Format
Bart Fisher, chairman of CBQ Inc., says he plans to sue still unidentified Internet message board users, who have posted unflattering comments about the stock of his Hunt Valley company.
--------------------------------------------------------------------------------
Gary Swancey says he noticed the pattern months ago: Someone would post nasty comments concerning the prospects of CBQ Inc.’s stock on various Internet message boards, and the stock would go down.
Given the typically low volume of trading on CBQ shares, Swancey, himself a longtime shareholder and a user of message boards, said his suspicions only grew.
So he began collecting hundreds of pages of the offending messages, noting the times they were posted, while tracking daily trading logs on the Hunt Valley-based custom software developer in hopes of connecting the posts conclusively to the movement of the stock.
What clinched it for Swancey was the discovery that the most consistently negative commentators, offering remarks under aliases such as Harry the Bull and Lilly White Stocks, all appeared to be the same person. Messages from all the aliases were coming from the same source, according to information Swancey says he obtained from one of the message board Web sites.
So when he was hired last month as CBQ’s outside investor relations representative, Swancey (alias: Georgia Bard) sent CBQ’s chairman Bart Fisher everything he’d collected. The result: CBQ yesterday angrily blamed its poor market performance on a 10-month-long “cybersmear” campaign that, coincidentally or not, started around the time the company decided to back out of a planned merger.
If Swancey and Fisher are right, such a campaign would violate securities law. Regulators have recently made examples of so-called “pump-and-dump” Internet shysters who praise a stock relentlessly, only to sell their shares when the price goes up. Little attention, however, has been paid to those who unfairly bash a stock with the idea of “shorting” it or who do so out of plain spite.
Yet shorting, or betting that the stock will go down, is “where the real money” is, Swancey says, arguing that a pump-and-dump is a fairly obvious ploy, while “it’s easier to get people to sell than it is to buy.”
Fisher denounced the alleged libelers as “malefactors of market price manipulation” and vowed to weed them out and sue them. “We will not be a passive punching bag any longer,” he said. The company will also alert the Securities and Exchange Commission to its allegations, he said, as well as to unspecified “possible violations of other SEC rules and regulations.”
He noted pointedly that the campaign began at about the same time CBQ killed a planned acquisition of 1stinhealth Inc., of Englewood Cliffs, N.J., a discount club for consumer health products. The New Jersey company’s CEO did not return a call seeking comment.
CBQ’s charges could be difficult to make stick. Even if it can prove that such a smear campaign — which now appears to have stopped — ever existed, it would be more difficult to demonstrate that the alleged libel is responsible for the company’s market troubles.
On one hand, CBQ boosted its top line more than four-fold during the first nine months of 2000 over the same period in 1999, mainly through acquisitions, and expects to receive a venture capital investment of at least $5 million this quarter. Yet, it continues to watch its stock price decline.
Shares, which had been above $16 in March 2000, closed yesterday at 24 cents.
The company believes that posts such as this one by Stock Whiz are to blame: “When are you people going to get it? It’s not bashing, it [is a] lack of FUNDAMENTALS that is bring [sic] this stock down. … How dumb can you people be?”
“If it looks like a duck, walks like a duck and smells like a duck, it might be a duck,” Swancey said.
On the other hand, CBQ seems to fall into one of the categories that investors have become wary about: It is a technology company that has been unprofitable for several straight quarters, losing nearly $1.8 million during the same period that it was boosting sales.
And of course from RB....
By: cruelella
27 Sep 2001, 09:31 PM EDT Msg. 3298 of 4026
(This msg. is a reply to 3289 by garyswancey.)
HEY VERN!! Gary Swancey Uneducated, he is a self-taught individual who has spent years working hard under the southern sun since he quit high school in the 10th grade
Can you say perpetual LOSER??
And from the horse's mouth.....I mean ASS
By: garyswancey $$$$$
27 Sep 2001, 05:25 PM EDT Msg. 3266 of 4026
(This msg. is a reply to 3263 by reconnaissance1.)
I disagree ... if the SEC was smart the a petition to get control of the markets would have been started today. The enemy is the shorts not the longs ... |
