Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : LGOV: For the Serious Investor -- Ignore unavailable to you. Want to Upgrade?

To: puddinhead who wrote (517)	3/28/2000 10:41:00 PM
From: puddinhead	Read Replies (1) \| Respond to of 608

BR, More bad news for the corporate director. Shares of eConnect Inc. (NASDAQ: ECNC - news), an online auction site operator, fell $8.75 to $1.25 this morning, following a two-week trading halt. EConnect and its CEO, Thomas Hughes, were charged last week by regulators with inflating the value of the company by distributing false and misleading press releases over the Internet. The SEC's civil fraud suit alleges eConnect falsely claimed the company and a joint venture partner has a unique licensing agreement with Palm Inc. (NASDAQ: PALM - news). It also alleges that eConnect falsely claimed one of its units had a strategic alliance with Empire Financial Group, a Florida brokerage, that would allow cash transactions over the Internet. The suit marks the SEC's second move against the company this month. On March 13, the SEC halted trading of the stock for two weeks, citing questions about the accuracy of the company's press releases. Earlier this month, the press releases that are at the center of the allegations led the stock to rise as high as $21.88 on March 9. Oh my................