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Microcap & Penny Stocks : Liteglow (LTGL) -- Ignore unavailable to you. Want to Upgrade?

To: Jim TenIron who wrote (2744)	7/31/1998 11:46:00 PM
From: Philip Bosco	Read Replies (4) \| Respond to of 4715

There has been a lot of talk about legal action against LTGL and its officers. Many class action suits against companies and certain officers usually make allegations that the parties violated 10(b) and 20(a) of the Exchange Act promulgated under SEC Rule 10b-5. These allegations usually state that the company made false and misleading information about how well the company is doing when in fact the officers and/or directors of a company named in the suit knew otherwise. It is usually also alleged in these suits that this false and misleading information artificially inflated the stock price and then the officers and/or directors who knew it is artificially inflated sell at the high artificial price and then the stock price plummets when the truth is revealed leaving the officers and/or directors rich and all other shareholders loosing a great deal of money. Generally it would have to be proven that these misrepresentations and/or omissions had the aggregate effect of artificially inflating the share price and that the insiders then took advantage of this by selling at the artificial high prices when they knew in fact that the share price was artificially inflated. Any class action suit seeks to recover damages for investors who purchased stock during a particular period of time usually referred to as the class period. I am not certain but I don't believe any officers of LTGL sold stock at artificially inflated prices. If there were artificially inflated prices it would have to be proven that it was caused by Misrepresentations and/or omissions by the company and its officers and/or directors. I will come back to this latter but I do want to look at the company's press releases. Food for thought right now.

To: Jim TenIron who wrote (2744)	8/1/1998 9:42:00 AM
From: AriKirA	Read Replies (1) \| Respond to of 4715

Jim, My post wasn't intended to offend anyone. Yes, I've met very knowledgeable people on SI and I have learned a lot from their experiences. However, it remains a fact that most people are not aware of their rights as a shareholder. Consider yourself lucky. I totally respect the fact that you have decided to take an individual position. However, being a lawyer myself, I disagree. Being legally involved in the Bre-X scandal, I know how things work. It is easier to attract some attention when you are a larger group. And that is exactly what we need right now, some attention: the media, the SEC, ... As I said earlier, it isn't for the $, I just want some honest answers. That isn't asking much, is it? Good Luck and Happy Trading AK