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Biotech / Medical : CYBR CyberCare the new look of healthcare -- Ignore unavailable to you. Want to Upgrade?

To: Kevin Podsiadlik who wrote (2196)	6/19/2000 11:21:00 AM
From: sommovigo	Read Replies (1) \| Respond to of 3392

Kevin, you're correct about civil v. federal, depending on the context. For instance, if it is found by some investigating comittee that a poster on S.I. had worked in cahoots with David Evans at Bloomberg or Herb Greenberg at TSCM to publish false and/or defamatory statements about a company in order to help a short sale - that might be a federal matter. For example: Hitsgalore.com Files Libel Lawsuit Against Bloomberg, L.P., and David Evans RANCHO CUCAMONGA, Calif.--(BUSINESS WIRE)--April 28, 2000--Hitsgalore.com Inc. (OTCBB:HITTE - news) announced that on April 27, 2000, it filed a Complaint for Libel in the Superior Court of the State of California for the County of Los Angeles, Case No. BC 228991 against Bloomberg, L. P. (``Bloomberg''), a Delaware limited partnership, and David Evans (``Evans''), a reporter with Bloomberg's news service, Bloomberg News. The Complaint was served on Bloomberg on April 27th at its Los Angeles, Calif., offices. The lawsuit alleges that Bloomberg and Evans, through Bloomberg News, published a series of ``Defamatory Articles'' on May 11 and May 12, 1999, which contained certain false and defamatory statements regarding the Company. As a result of the publication of the articles, the Complaint alleges, the price of the Company's stock dropped about 53% in one day. On May 10, 1999, the day before the publication of the first Defamatory Article, the price for the Company's common stock reached a high of approximately $20.6875 per share. The Company's stock closed at 9 3/8 on May 11, 1999. The Complaint seeks damages against Bloomberg and Evans in excess of five hundred million dollars ($500,000,000). <snip> biz.yahoo.com Now this is a civil matter as far as I can tell, however - if an investigating comittee finds, for instance, that David Evans was working in cahoots with some short selling group, I believe that it becomes an SEC matter. If you read the article, you will notice that once the defamatory and false information was published by the ethically-questionable reporter, several class-action lawsuits were instigated against the company. The atty's for the company won a dismissal of the case, however the following line concludes: "The Company also believes that, had Bloomberg and Evans properly investigated the facts before publishing the Defamatory Articles, they would have known that their allegations of fraud were false and unjustified, and therefore defamatory of the Company, and that the publication of the Defamatory Articles would unfairly and unlawfully cause the Company and its shareholders significant damages. " Seems to follow a similar pattern to CYBR, IMHO. Now let's look at who may have been short on HITSGALORE at the time the article was published: Pluvia is posting against Hitsgalore the day before the article, and Auric chimes in on the day of the article. Seems to follow a similar pattern to CYBR, IMHO. Evans seems like he might be dirty and may be working hand in hand with short-selling gurus. If that is found to be true, then there is potential for this legal matter to go from civil to federal, IMHO.