BR,
Do you imply that Hollen and ECNC, the company that is under investigation and stock got halted from
trading are..................
Listing himself as a Director of ECNC.....oh boy, and he thought Bob and the suspended list was
tough.
Guess we can't trust anybody these days now can we.
Hehehehehehehehehe
Guess this once and for all puts hollen on the list of "never to be trusted again file". Wake up
everybody.
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From the "jus so's ya know profile"......dum de dum dumb
Name jmhollen
Member Since 03/05/98
Company John M. Hollen Co. and "..eCONNECT.." (ECNC)
Occupation/Title Electrical Engineer (plant automation/construction/Y2K) Also; ECNC Director of
Corporate Alliances
Age 52
Location trans-USA
College "Big Orange"
Degree EE
Favorite Stocks ..ones that go up! ECNC's the future,
-----------------------------------------------------------
From the "jus so's ya know news release"......oh boy
Quote | Real-Time Quote NEW! | Charts | News | Financials | Discussion | Earnings Est. | Profile | SEC |
Hist. Prices | Industry Grp. | Broker Research | DSP/DRIP | Invest at ndb.com
ECNC : ECONNECT (OTC:BB)
All Headlines
Weiss & Yourman Announces Class Action Lawsuit Filed Against EConnect, Inc. On Behalf Of
Shareholders Who Purchased Stock Between November 23, 1999 and March 13, 2000
LOS ANGELES, March 14 /PRNewswire/ -- A class action lawsuit was filed in U.S. District Court on
behalf of purchasers of EConnect, Inc. (OTC Bulletin Board: ECNC) common stock between
November 23, 1999 and March 13, 2000 inclusive (the "Class Period"), including those individuals who
acquired their EConnect securities in exchange for shares, ADRs, or options in other companies which
were acquired by the Company.
EConnect is a provider of a merchant portal, powerclick.com, that features over 200 merchant listings
aimed at generating revenues based on fees per click. Also, EConnect has "internet cash payment
portals" which aim to sign up merchants and generate revenues through merchant application fees,
listing fees, affiliate link fees and transaction fees. Additionally, EConnect is in the business of
developing hardware and software systems designed to enable online remote, credit and ATM card
based transactions, such as those used for online gambling.
According to the complaint, during the Class Period, defendants made false and misleading statements
and/or omissions concerning the financial condition and business prospects of the Company, as well as
the financial benefits that would enure to EConnect and its shareholders, while disregarding information
which would have been of material importance to any reasonable shareholder. For example, the
complaint alleges that defendants failed to disclose: (a) that, contrary to EConnect's November 23, 1999
press release, EConnect had never acquired Top Sports SA; (b) that, contrary to EConnect's February
22, 2000 press release, EConnect was not generating anywhere near $10,000 a day from its PowerClick
division's network of websites; (c) that, contrary to EConnect's February 28, 2000 press release,
EConnect did not have a strategic alliance with Empire Financial Group, Inc.; and (d) that, contrary to
the implication of EConnect's February 29, 2000 SEC filing, EConnect did not have an agreement to
use an internet cash payment system developed by SafeTpay.
According to the complaint, since the disclosure of these, and other, adverse facts would have caused a
severe collapse in the price of the Company's stock, defendants set out on a scheme to conceal these
facts in order to artificially inflate EConnect's stock price.
The Company's common stock traded as high as $21 on March 9, 2000, and was maintained at these
allegedly inflated levels until the SEC halted trading in the shares on March 13, 2000 in view of suspicion
that the Company was issuing false and misleading press releases to artificially inflate the Company's
share price.
Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of
Weiss & Yourman who has significant experience and expertise in prosecuting class actions on behalf
of investors and shareholders.
If you are a member of the class described above, you may, no later than May 13, 2000, move the
Court to serve as lead plaintiff, if you so choose. In order to serve as lead plaintiff, however, you must
meet certain legal requirements.
If you wish to discuss this action, or have any questions concerning this notice, or your rights or
interests with respect to this matter, please contact plaintiffs' counsel listed below.
Contact: Mark A. Gordon, Esq. of Weiss & Yourman, 800-437-7918, wyinfo@wyca.com
--------------------------------------------------------------------------------
SOURCE: Weiss & Yourman
CONTACT: Mark A. Gordon, Esq. of Weiss & Yourman, 800-437-7918, wyinfo@wyca.com |
