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To: scion who wrote (89219)	1/10/2005 2:05:20 PM
From: StockDung	Read Replies (1) of 122087

Calandra settles SEC fraud charges Ex-MarketWatch writer to pay $540,000 By Robert Schroeder, CBS MarketWatch Last Update: 1:46 PM ET Jan. 10, 2005 WASHINGTON (CBS.MW) -- Former MarketWatch writer Thom Calandra will pay $540,000 to settle fraud charges with the Securities and Exchange Commission after the agency alleged he profited by selling stocks he recommended in his investment newsletter. The agency said Calandra, one of the founders of MarketWatch (MKTW: news, chart, profile), made more than $400,000 in illegal profit by writing favorable profiles of small-cap companies and then selling their shares after they went up in price. MarketWatch is the publisher of this report. Calandra followed this pattern for 23 different stocks he covered from March to December 2003, the SEC said. Calandra neither admitted nor denied the SEC's allegations. Calandra stepped down from MarketWatch Jan. 22, 2004, after an internal probe into his trading activities that followed the SEC's request for records of his personal stock trades and e-mail messages. In a statement released Monday, Calandra said, "I am happy to have finally reached settlement with the SEC on this matter" and noted that the settlement does not prohibit him from sitting on the boards of public companies. Helane Morrison of the SEC said in a press release that Calandra's readers were entitled to know about the writer's trading activity "so that they could evaluate the credibility and impartiality of Calandra's investment advice for themselves." MarketWatch described the settlement as a matter between Calandra and securities regulators and said it would not comment on the details of his settlement. The company maintains a trading policy requiring employees to disclose the purchases or sales of securities. Shares of MarketWatch were down 1 cent to $17.95 in midday trading.

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