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To: Beantown who wrote (6935)7/29/1998 10:07:00 PM
From: Bill Ulrich  Respond to of 11684
 
Bean, *once again*, the SEC is not going to shut down anything just because of some email complaints. That would leave them wide open for a ton of reckless and negligent behaviour suits.

Consider for a moment, that they might want to protect themselves&#151so they go poking around a bit to see if the complaints have any merit. If it's just hot air, they blow it off. If it isn't squeaky clean, then it warrants deeper investigation; thus a halt. Never would they halt an issue just for kicks, because some Joe Average/SI Member found their in-box.

More rational or plausible?

-MrB
(and yes, this has been explained a few times over the past few hours, yet still the question persists)



To: Beantown who wrote (6935)7/29/1998 10:15:00 PM
From: Druss  Respond to of 11684
 
Beantown--I can't claim any direct knowledge of the situation.
I am skeptical though that the SEC would suspend a stock from trading because of a negative spamming campaign via E-mail. They would want something they can get their teeth into.
I can speculate (and all it is, is speculation) as to why they acted but here are a few: they received a tip from within the company, they received a credible tip from outside the company, or they got complaints, investigated, and found something they felt was seriiously questionable. Simply acting on a spamming of E-mails would leave almost any BB company vulnerable to such actions by their competition or the same sort of individual(s) who create computer viruses. If I were the person working for the SEC who initiated this move I would not want to say to my superiors that the reason I stopped trading on a security is I got a lot of E-mails complaining about or questioning the company, I would want some evidence of wrong doing.
All the Best
Druss