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To: Hope who wrote (9080)8/17/1998 10:25:00 AM
From: jhild  Read Replies (2) | Respond to of 11684
 
I'm still looking for a confirmation link on that story that was posted a little while back here. It is not currently up on the Business Wire site as yet. I would caution verifying this story.



To: Hope who wrote (9080)8/17/1998 10:26:00 AM
From: Cliff Daniel  Respond to of 11684
 
I wasn't too far off?

To: Graystone (1873 )
From: Cliff Daniel Sunday, Aug 2 1998 3:25AM ET
Reply # of 1987

Hows this for a story...

We'll reverse merge with a company.

Meanwhile some person will put out a press release that says they now have 20,000 acres. During the hype (from the press release) they will dump millions of shares from an offshore account and release a correction saying it was only 8,000 acres, 6 days later. Plenty enough time to unload those shares.

Someone then screams "foul" and sues some people, knowing it will be tied up in court and to be dropped later.

The SEC then investigates the accuracy of the press releases. Possible penalty of being delisted. Trading is halted.

After being delisted the company files for bankruptcy and the doors are closed.

Shareholders unite to file a lawsuit. Company is broke. Can't squeeze blood from a turnip.

Three months of hardwork for a few million in payouts. Split a few ways of course. Not too bad?




To: Hope who wrote (9080)8/17/1998 10:27:00 AM
From: Donster  Respond to of 11684
 
Yes. And I'm devastated. Cost me a bundle!
Donster