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To: jhild who wrote (2979)	8/31/1998 10:52:00 AM
From: s martin	Read Replies (2) \| Respond to of 26163

sec.gov In September 1995, defendants Robert Marsik and Mark Pierce hired Pignatiello to raise the public market price of ACC common stock in advance of a secondary offering of ACC securities. At the time, Marsik and Pierce served as directors of ACC and were ACC's principal shareholders. In addition, Marsik served as ACC's President. From September 1995 through March 1996, ACC paid Pignatiello a monthly fee for his services and provided Pignatiello with a small block of ACC stock. In turn, Pignatiello directed Mazzeo at Colin, Winthrop to act as a market maker for ACC stock and, through accounts controlled by Constance Pignatiello and himself, Pignatiello began purchasing ACC stock to absorb the supply of ACC stock coming into the market. For example, during the period from October 1995 through April 1996, account records show that Pignatiello was responsible for 94% of all retail purchases of ACC stock. As Pignatiello exerted control over the supply of ACC common stock, the price of ACC common stock rose from $.20 in September 1995 to $2.00 per share in May 1996, just prior to a scheduled secondary offering. The ACC manipulation scheme failed to achieve its original goals when the secondary offering scheduled for May 1996 was withdrawn by ACC's underwriter and a secondary offering completed in August 1996 involved much less favorable terms for ACC, Marsik and Pierce. Maybe when they wake up in LV and CA ? Since management owns 80% of the stock, it shouldn't be to hard to fake a squeeze ala John Fasano's & co.