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Technology Stocks : Stock Swap
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To: Patrick Slevin who wrote (16474)5/1/1999 3:17:00 AM
From: Andrew Vance  Read Replies (1) of 17305
 
*AV*--In retrospect, our friends might have had a better leg to stand on if they came up with a fictious government agency. Then there would have been no harm or foul and they probably could countersue for BusinessWire for not checking their sources.

Then again, I'll bet some lawyer is just dying to defencd them to take on the bad boys. BusinessWire should have had a system to check out new customers and companies they have never dealt with before and we never on file.

Here is a an interesting thought. Could I "buy" a press release for dispersal from BusinessWire to extol the gains that were made via the newsletter? I would think that I could beat many of the fund managers that are about to send out their report cards. I also could have our subscriber results compared to that of other newsletters. considering the distribution provided by them, they could be of great service to us. However, as much as I could do this, then there are no protections against someone buying a shell company and then promote the company with BusinessWire news stories that are disseminated.

I guess what it all boils down to is that BWire may not have enough or any control systems in place to minimize this type of activity. Webnode fell through a crack in their safeguard systems.

Have a good weekend and I will contact you when the train leaves for the East Coast.

AV
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