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Technology Stocks : Ocean Power (PWRE): Water/Power Giant in the making!
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To: gene martineau who wrote (69)10/28/1998 9:09:00 PM
From: jhild  Read Replies (1) of 269
 
Gene it seems you made the news. It looks like they must have contacted you a few weeks ago. Is this the reason for your disclaimers at that time? I was looking for disclaimers on the other threads you post on, or was this the only one you received compensation for?

EUGENE MARTINEAU CONSENTS TO A CEASE AND DESIST ORDER IN CONNECTION WITH HIS TOUTING OF A COMPANY'S STOCK ON AN INTERNET "BULLETIN BOARD"

On October 27, the Commission entered a cease and desist order requiring Eugene B. Martineau to refrain from violating Section 17(b) of the Securities Act of 1933 (Securities Act). The Commission found that Martineau violated Section 17(b) by touting a company's stock on the Silicon Investor, an Internet "bulletin board," without disclosing that he expected to receive compensation provided indirectly by the company.

The Commission found that in December 1996, Martineau established a "folder" on the Silicon Investor devoted to a company trading on the OTC Bulletin Board, and from then until the end of May 1997 posted more than 60 messages about the company in which he urged readers to purchase the stock or to hold onto the shares they owned. He did not disclose that he had a 24-month option to buy 5,000 shares of the company's stock at $1.50 per share that were to be provided indirectly by the company.

The Commission instituted and settled administrative proceedings against Martineau, who, without admitting or denying the Commission's findings, consented to the entry of an order requiring him to cease and desist from committing or causing any violation, and any future violations, of Section 17(b) of the Securities Act. (Rel. 33-7599; File No. 3-9767)

http://www.sec.gov/news/digests/10-28.txt
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