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Microcap & Penny Stocks : PanAmerican BanCorp (PABN) -- Ignore unavailable to you. Want to Upgrade?

To: J T who wrote (20716)	12/15/1998 12:48:00 PM
From: barbara sperino	Read Replies (2) \| Respond to of 43774

Just read this on Ragging Bull. By: jjayr1 Reply To: None Tuesday, 15 Dec 1998 at 11:09 AM EST Post # of 5460 Rosario better be careful, Another basher bites the dust... Monday December 14, 11:26 am Eastern Time Company Press Release American Eco and its Executives Awarded $8.3 Million from Internet Libel Suit HOUSTON, TEXAS--(BUSINESS WIRE)--Dec. 14, 1998--(NASDAQ:ECGOF - news; TSE:ECX. - news) AMERICAN ECO CORPORATION announced today that it had been awarded US$500,000 in punitive damages and US$75,000 in direct damages in its lawsuit against an individual who hid behind an Internet posting alias as ''PMKK1''. The judgment in favor of American Eco was for liable and slander through false Web and bulletin board postings about the Company and its executives. American Eco claimed that the falsehoods circulated on the Internet had damaged its reputation with the investment community and caused investors to short its publicly traded shares by creating doubt about statements made by American Eco management. In addition, Mr. David Norris, former CFO of American Eco, was awarded $5.0 million in punitive and $2.75 million in direct damages in the same lawsuit against the individual operating under the alias of ''PMKK1'', for untrue allegations concerning Mr. Norris' executive history, which were posted on the Internet, resulting in his suspension from his position. American Eco, Chairman & CEO Michael E. McGinnis, stated, ''American Eco will vigorously pursue untrue statements, rumors and attacks on its executives on the Internet, and intends to enforce this judgment within the full extent of collection. The Company intends to continue to take action against other individuals who use the Internet to post anonymous and false statements.''