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.

Pastimes : Investment Chat Board Lawsuits -- Ignore unavailable to you. Want to Upgrade?

To: Arcane Lore who wrote (708)	8/31/2000 1:49:30 AM
From: Jeffrey S. Mitchell	Read Replies (1) \| Respond to of 12465

Re: 8/30/00 [TTN] Titan sues to block damaging Web postings Titan sues to block damaging Web postings By Deena Beasley LOS ANGELES, Aug 30 (Reuters) - Technology services firm Titan Corp. (NYSE: TTN) said on Wednesday it is suing a group of as yet unidentified short sellers it claims used Internet messages and written reports to drive down the company's stock price. The suit comes only days after shares of high-tech company Emulex Corp (NASDAQ: EMLX). plunged more than 50 percent when a bogus press release was posted on the Web claiming its chief executive was resigning and it was being forced to revise earnings reports. The Emulex hoax has triggered a fierce debate by investors and regulators over the Internet's role in stock trading and disseminating information. San Diego-based Titan's suit, filed with California Superior Court in Los Angeles County, seeks damages and an injunction against further securities manipulation. Titan said that in response to its suit, the court had issued a subpoena asking Internet portal operator Yahoo Inc (NASDAQ: YHOO) to turn over its records showing the identity of the individuals who posted messages. "If this isn't the first time a subpeona has been issued to a Web site, it certainly won't be the last. The Internet provides a new arena in which securities law enforcement is required," said Marshall Grossman, an attorney at Los Angeles firm, Alschuler Grossman Stein & Kahan which is handling Titan's case. "This lawsuit is being brought against those who created and disseminated false information about Titan while at the same time selling the stock or engaging in put transactions intended to drive the price of Titan's stock down," he said. Titan, a defense contractor which has sought to reinvent itself by serving a range of private sector technology needs, said a scheme employing anonymous messages on Internet bulletin boards drove the price of its stock to $21 a share on Aug. 22 from $44-3/4 on May 1. The stock closed up $1-1/2 at $24 on the New York Stock Exchange on Wednesday. Grossman said material from one an anonymously written report, which was widely distributed to Titan's institutional shareholders, was also used in an article earlier this month in financial publication Barron's that further drove the company's stock price down. The Barron's article suggested Titan's stock was overvalued due to uncertainty over whether its SureBeam business, which developed part of the Star Wars anti-missile defense system and is now used to help sterilize some foods, will be successful amid consumer resistance to irradiated foods. "Titan has drawn a line in the sand. We will protect the interest of our shareholders. Titan will not tolerate irresponsible and illegal manipulation of its stock," Chairman Gene Ray said in a statement. The company said its own investigation has identified about three dozen screen names used to spread the false information over the Internet. siliconinvestor.com Similar story from the San Diego Union-Tribune: uniontrib.com

To: Arcane Lore who wrote (708)	12/13/2000 10:21:17 AM
From: Arcane Lore	Respond to of 12465

From an article by Herb Greenberg, TheStreet.com senior columnist: [...] Finally, from the "truth-is-stranger-than-fiction" department: So, here's Titan (TTN:NYSE - news - boards), making a big stink about anonymous message board posters, and what shows up on the Yahoo! (YHOO:Nasdaq - news - boards) Titan message board Tuesday at 2:05 p.m.? An anonymous post (in that it wasn't signed) from someone who goes by the handle califlawyer1, who claims to be Titan's attorney. The post wasn't signed, which is the problem with message boards because you never know for sure if the person claiming to have done the post is really who the person says he or she is. But it sure sounded like Titan's outside attorney, Marshall Grossman, because the poster wrote things that, based on our conversation, only the attorney I spoke to would know so well. Grossman didn't return my call. Forget for a moment how downright bizarre it would be for an attorney involved in a case in which he sought subpoenas to find the true identities of message board posters to post an anonymous message. (Or to post even an identified post!) Rather than deal with the questions I had asked about the testimony of an expert witness, the poster instead pointed out inaccuracies in a private report on Titan by a hedge fund manger who was sued by Titan over the report. The poster then closes with a veiled threat of sorts: "This litigation should provide some insight into the workings of a number of different disciplines ... from lawyers ... to financial analysts ... and those who follow the stories." And those who post on message boards ... if you get my drift. thestreet.com The Yahoo post in question: Re: Herb regurgitates for Botti Brown by: califlawyer1 12/12/00 2:05 pm Msg: 66830 of 66910 As Titan's attorney, I write this in response to inquiries regarding the Herb Greenberg article. It is common for parties in litigation to hire experts to give them opinions they seek...and the "experts" Mr. Greenberg refers to were paid by Botti Brown for their opinions. These opinions have not been accepted by the Court or even considered by the Court as of this time. When Mr. Greenberg called me, I asked him if Botti Brown's attorneys had also provided him with John Botti's sworn declaration in which he discusses Titan's claims of 41 separate factual errors in the Botti Brown analysis; he said they did not. I urged Mr. Greenberg to review the entire record and report on it if he went forward with his article...which he apparantly declined to do. As an example I referred him to Botti Brown's statement in its reports that:"Titan Management have suggested a model wherein Titan receives $.05 per pound on 80-90 billion pounds of meat per year. This is ludicrous." John Botti has submitted a sworn declaration to the court in which he discusses Titan's claims that this statement is false. His response is: "...I inadvertantly overlooked a typographical error that added zeros to the meat-poundage numbers. The numbers should actually be 8-9 billion pounds per year, which is consistent with numbers in published research reports. ...In any event, when viewed in context, the error is immaterial...." This litigation should provide some insight into the workings of a number of different disciplines...from lawyers...to financial analysts...and those who follow the stories. messages.yahoo.com The original Herb Greenberg article is at: thestreet.com

To: Arcane Lore who wrote (708)	3/13/2001 12:41:18 PM
From: Arcane Lore	Read Replies (1) \| Respond to of 12465

Monday February 26, 8:04 am Eastern Time Press Release SOURCE: The Titan Corporation Botti Brown and Titan Reach Confidential Settlement Agreement SAN DIEGO, Feb. 26 /PRNewswire/ -- The Titan Corporation (NYSE: TTN - news) today announced that Botti Brown Asset Management, LLC and The Titan Corporation reached a confidential settlement agreement, and Titan has agreed to dismiss its lawsuit against Botti Brown. Botti Brown prepared two sets of notes concerning Titan dated May 17, 2000 and August 15, 2000 for a small discussion group of professional investment managers. The notes, which included comments relating to Titan subsidiaries Titan Systems, Titan Wireless, SureBeam and Cayenta, reflects points of view as of the dates of the notes. Botti Brown has agreed to clarify the following: -- Since preparing the notes, additional information has become available to Botti Brown in public conference calls and amended public filings. -- Botti Brown does not dispute Titan management's statements in those conference calls and filings reporting sales transactions for SureBeam systems, the number of systems that can be produced per year, and the number of commercial customers generating per pound processing fees. -- Botti Brown does not dispute that SureBeam's proposed initial public offering as described in its registration statement as amended on January 11, 2001 would define the value of SureBeam to Titan upon closing, as represented by Titan management in its public filings. -- In the sections of the notes that refer specifically to accounting, the notes did not say or intend to suggest that Titan was engaging in any accounting for its transactions that is not in accordance with Generally Accepted Accounting Principles. -- In referring to "related party" transactions, the notes were not using the phrase in the definition used by Titan in its financial statements, which are audited by its independent public accountants. The notes did not say or intend to suggest that Titan's revenue recognition with its SureBeam and Titan Wireless partners was not in accordance with GAAP or not in accordance with the discretion under GAAP that public companies regularly exercise. -- With regard to Cayenta, the notes did not say or intend to suggest that in 1999 and 2000, Cayenta's revenues were not growing, and the notes do not dispute Titan's statements in public filings about Cayenta's 1999 and 2000 revenue growth and Cayenta's business model. -- Botti Brown does not dispute Titan management's statements in these public filings about Titan's overall corporate strategies, credit facility, capital expenditures and Titan's business model. -- Botti Brown no longer holds any position in Titan stock and has no opinion at this time about the current value of Titan stock, including any opinion that may have been previously expressed in the notes. Headquartered in San Diego, California, The Titan Corporation creates, builds and launches technology-based businesses, offering innovative technical solutions. Three of Titan's four core businesses develop and deploy communications and information technology solutions and services. In addition, Titan markets the leading technology for the electronic pasteurization of food products and is continually identifying promising technologies suitable for commercialization. The company has 7,600 employees, annualized sales of approximately $1 billion and total backlog in excess of $2.2 billion. ``Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release which are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks are described in the Company's Securities and Exchange Commission filings. The statements made by Botti Brown in this press release are not, and should not be taken to be, recommendations, endorsements or opinions concerning the value of the stock of Titan or of any of its subsidiaries. Media Contact: Wil Williams, Vice President Corporate Communications (858) 552-9724 or wwilliams@titan.com Investor Relations Contact: Rochelle Bold, Vice President Investor Relations (858) 552-9400 or rbold@titan.com If you would like to receive press releases via electronic mail, please contact invest@titan.com Press Releases and other Titan information are available on The Titan Corporation's World Wide Web site: titan.com SOURCE: The Titan Corporation biz.yahoo.com