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Technology Stocks : SFLK -- Ignore unavailable to you. Want to Upgrade?

To: StockDung who wrote (1112)	3/24/1999 12:50:00 PM
From: StockDung	Read Replies (1) \| Respond to of 1591

SFLK, and now ITOY will be featured on the WALL STREET REPORTER. I thought I would do some checking and see what the SEC had to say. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. LITIGATION RELEASE NO. 15950 /October 27, 1998 SECURITIES AND EXCHANGE COMMISSION v. STARWOOD MEDIA GROUP, INC., and JACK MARKS a/k/a JACOB MESTECHKIN, 98 Civ. 7659 (RO) (S.D.N.Y.) The Commission sued a New York public-relations firm and its owner for disseminating information about stocks on their website, Stock-Line.com, without fully and accurately disclosing that the featured companies had paid for the touts. Jack Marks, formerly named Jacob Mestechkin, heads Starwood Media Group, a small firm in lower Manhattan. Starwood also publishes a monthly print version of the internet site, Wall Street Reporter, which is distributed free of charge. The Commission's complaint alleges that Starwood's publications do not accurately describes the compensation arrangements with featured companies, as follows. At least three of the featured companies have paid consideration to Starwood Media, in cash, stock, or options, exceeding $10,000 in value. The three companies are a start-up motorcycle manufacturer, American Quantum Cycles, Inc.; a golf-course developer, Golf Ventures, Inc.; and a technology personnel firm, Infocall Communications Corp. The stocks of all three companies trade on the Over-the- Counter bulletin board. Stock-Line's disclosure, buried in a mislabeled linkage, understates the amount of compensation received for the touts, and fails to disclose Starwood's receipt of potentially valuable options. The disclosure in the Wall Street Reporter is also misleading in stating the featured companies either "have purchased or may purchase" investor relations services, when all companies have paid to appear in the journal. According to the Commission's complaint, Marks was on notice of the disclosure requirements, and persisted in his unlawful conduct even after consulting an attorney on the legal basis for a competitor's disclosure of specific amounts of stocks and options from featured companies. The Commission is seeking permanent injunctive relief and penalties based on the alleged violations of Section 17(b) of the Securities Act. Without admitting or denying the allegations in the Complaint, defendants Marks and Starwood have consented to the entry of an order permanently enjoining them from violations of Section 17(b) and requiring them to pay a civil penalty of $15,000. DOMAIN NAME TAKEN WALLSTREETREPORTER.COM is already registered Registrant: Starwood Media Group, Inc. (WALLSTREETREPORTER2-DOM) 19 FULTON STREET NEW YORK, NY 10038 US Domain Name: WALLSTREETREPORTER.COM Administrative Contact: Marks, Jack (JM6135) info@STN.COM +1 212 431 3242 (FAX) +1 212 431 1579 Technical Contact, Zone Contact: SUPPORT, TECH (TS6330) support@INTERLAND.NET 800-627-6839 (FAX) 404-586-001 Billing Contact: Marks, Jack (JM6135) info@STN.COM +1 212 431 3242 (FAX) +1 212 431 1579 Record last updated on 27-Sep-98. Database last updated on 23-Mar-99 08:53:40 EST. Domain servers in listed order: DNS1.INTERLAND.NET 208.233.88.10 DNS2.INTERLAND.NET 208.233.88.15 DNS3.INTERLAND.NET 208.233.88.20