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To: Mama Bear who wrote (1020)6/15/1999 11:24:00 PM
From: Q.  Respond to of 1440
 
the following posts provide significantly improved details about the meaning of the trading halt, in the case of NCDR.

the first post, for example, shows that even the NCDR spokesman seems to be confused about it.

the info comes from a Miami Herald article, June 12



To: Mama Bear who wrote (1020)6/15/1999 11:26:00 PM
From: Q.  Respond to of 1440
 
Glenn Gordon, assistant director of the SEC's regional office in Miami, said the market will dictate Net Command Tech's stock price when trading resumes June 25. Market makers, trading firms that carry inventories of Nasdaq stocks, will have to take it upon themselves to obtain additional information about Net Command Tech.

''This order does not require the company to provide us with anything,'' Gordon said. ''The people making a market in this stock are under heightened obligation to make sure they have accurate information. They'll have to decide where to get that information. If they get it from the company, they'll have to decide whether it's satisfactory.''

Net Command Tech spokesman Dan Charnas responded Friday as if the SEC were asking the company to provide more information.


''The company is cooperating fully with the SEC and is preparing to meet the SEC's information request completely and quickly,'' Charnas said.


herald.com



To: Mama Bear who wrote (1020)6/15/1999 11:28:00 PM
From: Q.  Respond to of 1440
 
Three years ago, the SEC suspended trading of another Fort Lauderdale technology company, Home Link Corp., on similar concerns about the company's announcements. The stock traded for $16.25 before the suspension and opened at 50 cents upon its expiration. Home Link went into court-ordered receivership and was liquidated, its shares now worthless.

herald.com



To: Mama Bear who wrote (1020)6/15/1999 11:29:00 PM
From: Q.  Read Replies (1) | Respond to of 1440
 
Bart Sacher, a former SEC enforcement attorney now practicing law in Miami, said trading suspensions are a quick-turn measure to tell investors that there may be more material information that should be disclosed by a company.

''I think it is a serious, cautionary statement from the commission that all present and potential investors stop, look and listen -- and investigate -- before acting further,'' Sacher said.

herald.com



To: Mama Bear who wrote (1020)6/15/1999 11:30:00 PM
From: afrayem onigwecher  Respond to of 1440
 
: Announcements of 10-day suspensions of trading in a specific security when the Commission determines that it is required in the public interest and for the protection of investors.


sec.gov