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Technology Stocks : shopping.com (IBUY) -- Ignore unavailable to you. Want to Upgrade?

To: Sir Auric Goldfinger who wrote (99)	9/25/1998 7:54:00 AM
From: Arcane Lore	Read Replies (1) \| Respond to of 435

Auric: Congratulations on scooping me once again. Here are some additional news stories: From an AP story on the SEC enforcement action against Perle and Waldron: ... The lawsuit, announced on Thursday, alleges that Waldron & Co. and former president Cery B. Perle, 36, committed fraud by inflating the price of Shopping.com 255 percent from $9 to $32 per share. The suit seeks the return of more than $4 million earned through the alleged manipulations. ... The SEC lawsuit contends that between Nov. 25, 1997, and March 23, 1998, Waldron and Perle created fictitious customer accounts, parked stock in customers' accounts and made unauthorized trades to inflate Shopping.com's price. The SEC's complaint said that Perle and Waldron controlled more than 90 percent of the company's 1.3 shares of publicly traded stock. The defendants wanted to boost the price by decreasing the amount available on the open market, the complaint said. The company also was accused of issuing a false news release that said Waldron had placed a ''buy'' recommendation on the stock. The release, edited by Perle, said Shopping.com had good earnings prospects despite operating losses. ... boston.com ===== "SEC targets Shopping.com broker in broad probe of small Internet stocks" "The SEC filed suit against Waldron & Co. alleging fraud and stock price manipulation in the shares of an Internet retailer" msnbc.com As part of its online coverage, MSNBC has provided links to its earlier stories: Who owns Shopping.com?: msnbc.com On the trail of Shopping.com sales: msnbc.com Shopping.com's shares get pounded: msnbc.com Shopping.com trading suspended: msnbc.com Shopping.com shares resume trading: msnbc.com