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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: MARK C. who wrote (27375)	4/13/1999 9:59:00 PM
From: MARK C.	Read Replies (1) \| Respond to of 90042

Bloomberg Sues Five People in PairGain Story Hoax, WSJ Reports New York, April 13 (Bloomberg) -- Bloomberg LP, the closely held parent company of Bloomberg News, sued five unknown people alleged to be connected to last week's story on a fictional takeover of PairGain Technologies Inc. posted on the Internet, the Wall Street Journal reported. The suit filed in U.S. District Court in Manhattan said the five ''John Does'' infringed on Bloomberg's trademarks and unfairly competed with the New York- based company. Two of the five allegedly spread the news of the fake announcement on the Yahoo! Inc. finance message board, while two others allegedly posted messages on the techstocks.com Web site, the Journal said. The faked news story boosted PairGain shares as much as 32 percent last week before it was denied by Pairgain, and legal experts said they expect a swift crackdown to prevent the spread of similar securities fraud. (WSJ 4/13 B23 wsj.com) Apr/13/1999 12:29 For more stories from Bloomberg News, click here. (C) Copyright 1999 Bloomberg L.P.