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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: JGoren who wrote (145441)	10/4/2006 12:00:07 AM
From: Clarksterh	Respond to of 152472

The SEC really needs to take on the problem of compeitors misleading the market with the aid of willing journalists with an agenda. I have never seen a worse situation than what happened yesterday. I don't have much experience with the practice of law, but I would imagine that the judge wouldn't take to kindly to the kind of twisting of the truth that Broadcom just pulled. So, Q: how much is such irritating of the judge likely to hurt Broadcom? My history is that I saw a judge actually overturn a jury because the plaintiff's attorney was a horse's patoot and had thereby mislead the jury. I realize that was based upon in court behavior (vs this being out of court behavior), but ... . Clark

To: JGoren who wrote (145441)	10/4/2006 5:58:32 PM
From: Art Bechhoefer	Read Replies (1) \| Respond to of 152472

JGoren--Regarding what the SEC can do, I have seen no rules or statutes that would permit prosecution of journalists or non-broker firms for publishing misleading information. The first amendment protects these guys, no matter how bad they are. But New York State has a statute that is part of its General Business Law, which permits prosecution of those who attempt to manipulate the price of securities. New York also has the Martin Act, which allows the state attorney general to prosecute those involved in the financial markets for misleading statements. This statute has been used, somewhat successfully, by the present New York Attorney General Spitzer, who is now running for Governor. Art

To: JGoren who wrote (145441)	10/5/2006 5:07:55 PM
From: lml	Read Replies (1) \| Respond to of 152472

The SEC really needs to take on the problem of compeitors misleading the market with the aid of willing* journalists with an agenda.* [Emphasis mine.] Problem is how to prove intent on the part of the journalist. Very difficult. I have never seen a worse situation than what happened yesterday. Yeah, I couldn't believe the piece that AP ran after the close. The banner title claimed QCOM motion denied, but the story covered something else. Seems AP got my email telling them of the misleading title, as they've now corrected. See biz.yahoo.com PS. I really think that with advent of online journalism there are a lotta less-than-professional journalists out there. Some are simply negligent (incompetent); others are trying to make a name for themselves to further their career. A generic story never gets the author much attention, but a story that pushes up against the envelope of journalistic ethics does.