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To: Jeffrey S. Mitchell who wrote (758)9/7/2000 11:10:25 PM
From: Jeffrey S. Mitchell  Read Replies (1) | Respond to of 12465
 
Re: 9/7/00 - PCBM Shareholder's Group Demand Certificates To Eliminate Short-Selling

PCBM Shareholder's Group Demand Certificates To Eliminate Short-Selling

AMARILLO, TX, Sep 07, 2000 (INTERNET WIRE via COMTEX) -- A group of 363 individual shareholders of Pinnacle Business Management Systems [OTCBB: PCBM], organized as the PCBM Shareholder's Group, has completed their effort to request all of the "float" shares into certificate form, according to Jeff Andle, spokesperson for the group. "Mr. Andle's statement is based on the collective reporting of the group of shareholders and the best available estimates of the available free-trading shares, as well as certificate requests of 10.5 million shares by a single investment fund anchoring the effort," said Bill Kinkead, legal counsel for the group.

"One has to assume that based on SEC filings and other public documents that there are 29.5 million free trading shares in circulation," said Andle. An additional 11.6 million shares are believed to be frozen in certificate form; these additional shares being associated with the retirement of 105 million shares discussed in PCBM's press release dated July 21, www.pcbm.com/press/000721.html, and Gordon and Associate's press release on the same date, www.pcbm.com/press/000721b.html).

Further to this effort, individuals within the PCBM Shareholder's Group have collectively requested certificates on at least 6 million additional shares that are expected to be undeliverable by brokers and clearinghouses. The resultant "paper call", according to Kinkead, is expected to have dramatic consequences on several broker-dealers and market makers that are believed to have enacted trades in which their clients sold the stock short. Additional certificate requests are anticipated by members of the PCBM Shareholder's Group, above and beyond those reported in this release. "Litigation may eventually be necessary to preserve the rights of several thousand shareholders of PCBM who are unable to obtain certificates for their shares," said Kinkead.

This action was taken by the Shareholder's Group in response to a perceived short position of at least 40 million shares. Initially, starting June 19, 2000, the shareholders attempted to "buy up" the float; the effort met with increased selling pressure. "In conjunction with this effort, the company asserts that it has not increased the number of free trading stock certificates, which leads the shareholders to assert that short selling is still occurring," said Andle.

As a result, the Shareholder's Group determined that the removal of shares into certificate form would be necessary in order to stop the short-selling. Today's announcement culminates a two-month effort by a loosely confederated group of over 200 individual shareholders in the US and Canada and another 163 individual shareholders in Belgium.

Shareholders within the Group contend that they collectively own over 82 million shares while the company states that only 42 million free trading shares exist. The effort to request all of the company's stock into certificate form was severely hampered by two factors. (1) The Belgian shareholders claim over 16 million shares; however they uniformly report that obtaining certificate form paper on US stocks is difficult.

(2) More serious are the strict constraints associated with IRA accounts. Demands for certificates from IRA's are treated as a premature withdrawal and are potentially subject to strict tax consequences if not returned within 60 days. "This effort has indicated that shares held in IRA's are unwittingly offering a "safe haven" of almost untouchable stock in "street name" against which market makers and large institutions can sell short," said Kinkead.

According to Andle, this is one of many stocks on the OTC bulletin boards that is facing heavy short selling and the efforts by the PCBM Shareholder's Group prompted similar efforts at Finder's Keepers [OTCBB: FDKP], Titan [NYSE: TTN], and may be expected to generate similar efforts in other stocks suffering from perceived shorting.

About Kinkead Law Offices and the 363 member PCBM Shareholder's Group:

Kinkead Law Offices is located at 6937 S. Bell, Suite G, Amarillo, TX 79109. Bill Kinkead, managing attorney of the firm, may be contacted by mail at that address and by email at bkinkead@cincadi.com. The Firm maintains a website at www.billkinkead.com/pcbm to provide information and a forum for the 363 member PCBM Shareholder's Group and other PCBM shareholders worldwide. Telephone inquiries should be directed to (806) 353-2129.

Safe Harbor for Forward-Looking Statements:

Except for historical information contained herein statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from the forecasted results. These risks and uncertainties, include, among other things, product price volatility, product demand, market competition, risk inherent in the company's domestic and international operations, imprecision in estimating product reserves and the company's ability to replace and expand it's holdings. This press release is based on the best available data and is subject to potential errors of reporting or counting.

CONTACT: Bill Kinkead
Kinkead Law Offices
806-353-2129

Copyright 2000 Internet Wire, All rights reserved.

siliconinvestor.com



To: Jeffrey S. Mitchell who wrote (758)9/8/2000 12:31:00 AM
From: Jeffrey S. Mitchell  Read Replies (1) | Respond to of 12465
 
Re: 9/7/00 - [TTN] Titan Corporation Obtains Court Order Preventing Destruction of Documents That May Reveal Identity of Unscrupulous Short Sellers Court Also Authorizes Subpoenas to Message Boards To Turn Over True Names of Anonymous Posters

Titan Corporation Obtains Court Order Preventing Destruction of Documents That May Reveal Identity of Unscrupulous Short Sellers Court Also Authorizes Subpoenas to Message Boards To Turn Over True Names of Anonymous Posters

SAN DIEGO, Sep 7, 2000 /PRNewswire via COMTEX/ -- The Titan Corporation (NYSE: TTN chart, msgs) announced today that the Los Angeles Superior Court granted Titan Corporation's application for an order for preservation of records that may reveal the identity of those who sold short Titan stock and anonymously distributed false reports about the corporation. In its lawsuit filed August 30, 2000 to stop a scheme by unscrupulous short sellers to drive down the price of Titan stock from $44 3/4 a share to $21 a share, Titan claims the market loss in the value of its shares was a staggering 50% or $1.3 billion between the time of June 20, 2000 and August 22, 2000. The suit seeks damages and an injunction against further securities manipulation.

Gene W. Ray, Chairman, President, and CEO of Titan said, "We will identify and seek redress from those involved in the short sellers' scheme to hide behind screen names and distribute anonymous and false reports through the mail. Titan is a technology company with employees and shareholders to protect. We ask all stock investors to support Titan in our quest to ensure integrity in the financial markets."

Titan is represented by Marshall B. Grossman and Michael A. Sherman of the Los Angeles law firm Alschuler Grossman Stein & Kahan LLP. Mr. Grossman stated, "This lawsuit sends a message to those short sellers who we believe conspired to drive down the price of Titan's shares. We will identify and prosecute those responsible for manipulating the markets and driving down the price of Titan's stock."

The court ordered twenty-six named individuals and investment firms not to destroy any documents or tamper with computer files that may provide leads to the identity of short sellers who sold Titan stock while distributing false information.

Today's order is designed to preserve documents which may reveal the identity of those responsible for past manipulation of Titan's stock. The court order applies to all writings, original documents, copies of documents, telephone bills, telephone logs, mechanical or electronic data, retrievable data (whether carded, taped coded, electronstatically or electromagnetically recorded, or otherwise), or other data compilation from which information can be obtained, including computer storage tapes, computer storage cards or disks, storage memory devices on hard drives, floppy disc drives, zip drives, any archival tape backups, personal computer memory storage devices, computer network memory storage devices, and memory storage devices or faxes and compact discs.

Upon the filing of the Titan lawsuit on August 30, 2000, the court issued a subpoena requiring Yahoo to turn over its records showing the identity of those individuals who posted hostile messages about Titan over the Internet during the period of heavy short selling. Yahoo appeared for deposition taken in San Francisco on September 6, 2000, and turned over their records pertaining to those who posted anonymous messages about Titan on Yahoo message boards. Today, the Court issued a further order authorizing subpoenas to AOL, Go2Net.com, Clear Station, Inc., Raging Bull and The Motley Fool, similar to the subpoena served on Yahoo. Titan's complaint and the orders issued by the Los Angeles Superior Court can be found at Titan.com.

Headquartered in San Diego, California, The Titan Corporation, an information technology company, 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. Titan 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, including our ability to identify the short sellers and prove the material allegations of our complaint as well as our ability to obtain remedies against the defendants, are forward looking statements. These forward-looking 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 and uncertainties include the risks inherent in any litigation and other risks described in the Company's Securities and Exchange Commission filings.

Source: The Titan Corporation

Contact:

Robin Gerber of RGA, Inc., 310-209-5678, ext. 222, or cell,
310-413-2801, rgerber@rgacorp.com; or Wil Williams, VP Corporate
Communications of Titan, 858-552-9724, wwilliams@titan.com
URL: titan.com

siliconinvestor.com



To: Jeffrey S. Mitchell who wrote (758)9/8/2000 10:00:44 AM
From: Quahog  Read Replies (1) | Respond to of 12465
 
I need a favor at San Diego Superior Ct.
If anyone monitering this thread appears regularly in San Diego County Superior Court, I need a copy of a cybersmear complaint that was filed there. The complaint is not available on lexis or pacer, and I am on the other coast. If anyone is already going to be in court on another matter, and has the time or inclination to get me a copy, would you please PM me for the details.
Thanks in advance,
Quahog



To: Jeffrey S. Mitchell who wrote (758)9/8/2000 10:19:00 AM
From: Eric Fader  Read Replies (1) | Respond to of 12465
 
"We've read numerous scurrilous and false rumors about what we might be publishing, but this is the first instance I've known of that had any veracity," said assistant managing editor Randall Forsyth.

Those Barron's guys have short memories. There have been several times that I vaguely recall when the fact that Barron's was doing a story was leaked. One such instance involved Osicom (FIBR), which Barron's slammed more than once. Also, a few years ago, I was the lead plaintiff in a class action against Davstar (became Urohealth) based upon misleading or fraudulent press releases. The stock, which had had a run, dropped and was halted on a Friday because word had leaked that the following day's Barron's would trash the company, and it did.