A little FYI- I found Passy Holding and Arcadia Mutual, who have filed to sell jsub,
mentioned in this article last year. Not sure how these groups'
selling actually relate to jsub's ongoing business:
NORTH BETHESDA, Md.--(BUSINESS WIRE)--July 22, 1998-- National
Affiliated Corporation (OTCBB:NAAC - news) announced today that the company
and certain company stockholders have filed a lawsuit in U.S. District Court in Los
Angeles seeking treble damages and other remedies for an alleged fraudulent ''stock
shorting'' scheme to depress the market price of the company's common stock.
In the suit, the company and the shareholders allege that the defendants, who are
various entities holding the company's convertible debentures and individuals controlling
those entities, purchased the company's debentures as part of an illegal scheme and
conspiracy which entailed significant manipulative short selling of the company's
common stock.
This alleged scheme of market manipulation commenced in the fall of 1997 and allegedly
depressed the market price of the company's common stock, reducing market
capitalization of the company by almost $15 million. The company also seeks relief that
it be excused from any obligations to issue common stock on conversions.
The suit, brought by the Los Angeles law firm of Christensen, Miller, Fink, Jacobs,
Glaser, Weil & Shapiro, LLP, names as defendants Ronald G. Williams, Sheldon D.
Taiger, Arie Rabinowitz, Chris Rossman, Ethel Schwartz, Guilherme Duque, Dora
Fried, Joseph Schonkopf, Thomson ernaghan & Company Ltd., Excalibur Limited
Partnership, Vengua Capital
Markets Ltd., London Select Enterprises Ltd., Select Capital Advisors, Inc., Austost
Anstalt Schaan, UFH Endowment Ltd., L.H. Financial Services, Willora Company
Ltd., Iguana Investments, Arcadia Mutual Fund, Asia Equities, Passy Holding, Paril
Holding and others unknown at this time.
National Affiliated Corporation is committed to the acquisition and consolidation of
insurance companies, mainly those with a clear potential for a high return on investment
from immediate cost reductions, and timely marketing of profitable niche products. |
