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To: Sir Auric Goldfinger who wrote (8164)	6/7/2000 4:21:00 PM
From: StockDung	Read Replies (1) \| Respond to of 10354

Big Five Accounting Firms to Open Books to SEC By Tim Arango TheStreet.com/NYTimes.com Staff Reporter 6/7/00 1:36 PM ET In response to a continuing inquiry into possible breaches in the independence of corporate auditors, the Big Five accounting firms have agreed to open up the investment portfolios of their partners and top managers to the Securities and Exchange Commission in exchange for immunity from enforcement, the SEC said Wednesday. The so-called "look-back program" will review investments held by certain managers and partners for a period of at least nine months prior to March 31 to determine whether those employees held stock in firms they were auditing. "This is a significant chapter in the commission's and the profession's efforts to reinforce the importance of auditor independence," Arthur Levitt, the SEC chairman, said in a statement. "This serious and comprehensive review will enhance investor confidence and lead to improved quality control systems going forward." The firms agreed to hire independent counsel to conduct a review, and to report violations to the SEC. In return, the firms will not be subject to enforcement except for the most serious violations, such as when a firm itself or senior employees working on an audit own stock in a client. The announcement comes a few weeks after Levitt, in a speech at New York University, criticized the accounting industry for cutting off financing for a public oversight board that delves into such conflicts of interests. The historical roots of the issue date back about 20 years, when accounting firms branched into consulting, according to Geoffrey Pickard, a spokesman of the American Institute of Certified Public Accountants, which represents the nation's largest accounting firms. Public confidence in the independence of auditors has suffered as well, Pickard said. Most firms, such as PricewaterhouseCoopers, are in the process of spinning off their consulting businesses, he said. The Big Five accounting firms are PricewaterhouseCoopers, Deloitte and Touche, Arthur Anderson, Ernst & Young and KPMG.

To: Sir Auric Goldfinger who wrote (8164)	6/8/2000 9:36:00 AM
From: StockDung	Read Replies (2) \| Respond to of 10354

Asensio Wins Against Hemispherx NEW YORK, June 8 /PRNewswire/ -- The following is being issued by Asensio & Company, a member of the National Association of Securities Dealers, CRD number 31742: Yesterday, United States District Court Judge John R. Padova entered an Order granting in full Asensio & Company, Inc.'s ("Asensio") Motion to Dismiss. Judge Padova further ordered that all pending motions are dismissed and that Hemispherx Biopharma, Inc.'s (Amex: HEB) case against Asensio is closed. Hemispherx is a Stratton Oakmont stock fraud controlled by William A. Carter who has been charged with medical and scientific fraud and is being investigated for stock fraud. Since September 30, 1998, Hemispherx has used the legal services of Michael A. Walsh and David C. Franceski to harass Asensio, its employees and clients. The purpose of this harassment was to attempt to discredit and silence Asensio. Asensio was not discouraged and actively followed HEB even while the action was pending. The most recent example is on March 17, 2000 when Asensio reported that Hemispherx had issued misleading HIV treatment reports that had caused HEB's shares to trade as high as $19. Asensio is an institutional investment bank specializing in corporate valuations and equity research. Asensio also specializes in investigating and short selling stock promotions and publishing research on companies it identifies as grossly overvalued. A complete documented history of Asensio's published work with overly promoted securities, and the firm's definition of gross overvaluation, is available at asensio.com. Asensio was recently the target of six lawsuits by the subjects of Asensio's research reports. After the Asensio reports, these companies' stocks declined by an average of 88% after the Asensio reports. All six lawsuits have now been dismissed. Asensio has never retracted any statement or paid any amount to settle any of these suits. This report should not be construed as an offer to sell or solicitation of an offer to buy any securities. Opinions expressed are subject to change without notice. This report has been prepared from original sources and data which we believe to be reliable but accuracy is not guaranteed. This research report was prepared by Asensio & Company, Inc. whose stockholders, officers and employees may from time to time acquire, hold or sell a position in the securities mentioned herein. Asensio & Company, Inc. may act as principal for its own account or may sell or buy to or from its customers the securities described herein. Asensio & Company, Inc., may from time to time perform investment banking or other services for, or solicit investment banking or other business from, any company mentioned in this report or its affiliates. SOURCE Asensio & Company, Inc. CO: Asensio & Company, Inc.; Hemispherx Biopharma, Inc. ST: New York, Pennsylvania IN: FIN MTC SU: LAW 06/08/2000 09:11 EDT prnewswire.com