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Technology Stocks : KVH Industries, Inc.

KVHI 7.335

+1.5%

11:36 AM EST

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To: Bridge Player who wrote (2761)	11/3/2003 12:09:11 PM
From: Dee Jay	Read Replies (1) of 7249

here's the 15 year old's SEC case and the settlement: "IT IS FURTHER ORDERED that Respondent shall, within seven days of the entry of this Order, pay disgorgement of $272,826 and prejudgment interest of $12,174 for a total amount of $285,000 to the United States Treasury. Such payment shall be: (A) made by United States postal money order, certified check, bank cashier's check or bank money order; (B) made payable to the Securities and Exchange Commission" His technique (buying up the stock in thinly traded companies and then touting them via the Internet through various means), is also discussed at length at: sec.gov If proven anyone who pumps and dumps could be punished by the SEC but that's a different situation than the techniques used by short sellers. I have a strong feeling that their game is also punishable but first identities have to be obtained and then trades scrutenized and matched against negative posts, etc. But the SEC is way too understaffed to do that sort of thing. An Elliot Spitzer might if it was rampant enough - hats off to NY's Attorney General for exposing Wall St. misdeeds that have caused heads to roll and formal fraud charges to be filed. Dee Jay

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