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Microcap & Penny Stocks : Zia Sun(zsun) -- Ignore unavailable to you. Want to Upgrade?

To: Bear Down who wrote (9711)	1/15/2001 9:14:57 PM
From: sunshadow	Respond to of 10354

Maybe You Can Believe What You Read – ZiaSun Active Trader (Jan/Feb 2001) :)))))))))))))))))))))))))))))))) The Internet, with its easy access message boards and chat rooms, has proved to be a powerful tool for people intent on spreading false information to manipulate the price of a stock for their own benefit. While many traders have felt the wrath of the legal system or the Securities and Exchange Commission (SEC) for various illegal schemes, a recent case showed that not everybody on the message boards is up to no good. In late October, San Diego﷓based ZiaSun Technologies agreed to drop a lawsuit against four individuals who had posted numerous negative posts against the company in mid﷓1999. Additionally, one of the defendants who counter﷓sued ZiaSun for fraud received a cash settlement. ZiaSun sued the quartet, claiming they posted false information on message boards. The company alleged the group falsely accused the company of criminal behavior, pornography, improper financial interests, false corporate disclosures and illegal business practices. ZiaSun wanted a court to force the posters to stop, sought $500,000 in lost earnings and earnings capacity, sought court costs, and demanded a public apology and retraction of all previous posts. Defendant George Joakimidis countersued and was awarded $60,000. "This is, in no uncertain terms, a victory for free speech," says Stephen Worthington, one of the defendants. "The securities markets require full and open discussion of information, including all viewpoints. A public company should not be using its power to sue those with opinions different from the company's." Adds James Shalvoy, the defendant's lawyer, "We are seeing more of these cases as the Internet's role in securities transactions increases. Honest posters have nothing to fear. The Internet may be the New Frontier, but the rule of law still applies." The four defendants were adamant from the beginning that they did nothing wrong. As it turned out, their steadfastness was justified. However, while the truth should be the determining factor in cases like these, that's not always the situation. "There's a lot of intimidation going on where all kinds of companies are suing people who are making adverse posts on the Internet," says securities lawyer Mark Maddox. "A lot of these people may actually be telling the truth, but they don't have the economic resources to fight the company that comes in with the big injunction or lawsuit, so they cave in or go away." ZiaSun, which trades on the Nasdaq OTC Bulletin Board, reached a high of 15-3/4 in early January. It was trading around $2 in early November. 0