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.

Technology Stocks : KVH Industries, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Bridge Player who wrote (2761)	11/3/2003 11:35:12 AM
From: cmg	Respond to of 7249

Anyone notice how the shorts have dried up for the moment on Yahoo........Maybe there rethinking their position....(g)cmg

To: Bridge Player who wrote (2761)	11/3/2003 11:50:44 AM
From: Dee Jay	Respond to of 7249

I do remember that case but my recollection includes a very stiff fine/disgorgement of profits along with the requirement that he not have any online trading accounts, restrictions on computer use, etc. I think his parents also got hit with some restrictions. Dee Jay

To: Bridge Player who wrote (2761)	11/3/2003 11:56:56 AM
From: Dee Jay	Respond to of 7249

Bridge, this isn't the same case but not too dissimilar except this one was a bit more sophisticated. In any event they were nailed by the SEC: sec.gov Dee Jay

To: Bridge Player who wrote (2761)	11/3/2003 12:09:11 PM
From: Dee Jay	Read Replies (1) \| Respond to of 7249

here's the 15 year old's SEC case and the settlement: "IT IS FURTHER ORDERED that Respondent shall, within seven days of the entry of this Order, pay disgorgement of $272,826 and prejudgment interest of $12,174 for a total amount of $285,000 to the United States Treasury. Such payment shall be: (A) made by United States postal money order, certified check, bank cashier's check or bank money order; (B) made payable to the Securities and Exchange Commission" His technique (buying up the stock in thinly traded companies and then touting them via the Internet through various means), is also discussed at length at: sec.gov If proven anyone who pumps and dumps could be punished by the SEC but that's a different situation than the techniques used by short sellers. I have a strong feeling that their game is also punishable but first identities have to be obtained and then trades scrutenized and matched against negative posts, etc. But the SEC is way too understaffed to do that sort of thing. An Elliot Spitzer might if it was rampant enough - hats off to NY's Attorney General for exposing Wall St. misdeeds that have caused heads to roll and formal fraud charges to be filed. Dee Jay