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

To: Jeffrey S. Mitchell who wrote (1179)	3/1/2001 5:27:39 PM
From: StockDung	Read Replies (1) \| Respond to of 12465

RE:Amazon Natural Treasures Inc: SEC sues diet pill firm for "misleading claims" WASHINGTON, March 1 (Reuters) - The Securities and Exchange Commission has sued Amazon Natural Treasures Inc. <ANTD.PK>, a dietary supplement maker, alleging that the company overstated sales revenues and made false and misleading claims for some of its products. The suit, filed on Wednesday in U.S. District Court in Las Vegas, also names the company's president Michael Sylver as a defendant. It alleges that Amazon made "numerous false and misleading statements and omissions" on its Web site, in press releases and in filings with the Securities and Exchange Commission from at least 1997 through March 2000. The company, which did not immediately return a telephone call seeking comment, was accused of overstating sales revenue in 1998 and failing to report cash and stock options given to Sylver. The complaint also alleges that Amazon illegally sold millions of unregistered shares and failed to file timely documents with the SEC. Amazon's shares traded for 25 cents on Wednesday on the Pink Sheets. 13:04 03-01-01

To: Jeffrey S. Mitchell who wrote (1179)	3/1/2001 5:43:14 PM
From: SLSUSMA	Respond to of 12465

From your quote is sounds like the company is trying to blame internet posters, not their own management, for driving the stock price down to $8 from $72. What a way to take responsibility for their own actions. I'm sure the poster on Yahoo! is totally responsible for their advertising spending and lack of meaningful profits too. Don't call me a lawyer, but I distinctly remember learning the concept of "reasonable" in just about any tort, protection of personality, defamation, libel, etc. lawsuits. It is reasonable for a 3rd Party to believe that the messages were coming from CC himself? Clearly, the answer is no. ET has no case here; they could not have hoped to win in court. However, a sad comment on our legal system is that the thought of a lawsuit often coerces people into settling, as the Donk has done, to avoid paying money because unlike the English system, litigants in our system pay for their own attorney's fees. Were the loser to pay for attorney's fees, ET would probably not be so quick to harass critics and Donk would probably not be so quick to settle. Fact still remains that CC, the fearless leader of ET, sold millions worth of stock during the greatest decline in his company's stock price... How does that help the shareholders?