Imagination TV Inc. (IMTV)

[Milesblue42]

1998-UNITED-STATES-SECURITIES-AND-EXCHANGE-COMMISSION-VS-Steve-Samblis

https://www.sec.gov/litigation/litreleases/lr15609.txt

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

LITIGATION RELEASE NO. 15609 / January 6, 1998

SECURITIES AND EXCHANGE COMMISSION V. STEVEN SAMBLIS, ET AL. Case No. 98-
001-CIV-ORL-22-C.

The Securities and Exchange Commission ("SEC") announced that it filed
a complaint today in the U.S. District Court for the Middle District of
Florida in Orlando against Steven Samblis and his corporation New Stock,
Inc. ("NSI"). According to the SEC's Complaint, Defendant Samblis is a
resident of the Orlando, Florida area and self-professed stock picker. The
SEC alleges that Samblis, together with co-defendant NSI, is passing
himself off as an independent and impartial stock picker when, in fact, he
is nothing more than a paid pitch man for the companies he hypes.

In its Complaint, the SEC alleges that in October 1997 Samblis
published a magazine, New Stock, in which he enthusiastically recommended
the securities of certain publicly-traded companies without disclosing that
he had been paid at least $20,000 to make these recommendations. The SEC
also alleges that Samblis was paid to issue thousands of E-mails over the
Internet regarding these same securities. The SEC learned of Samblis'
activities when detected by the Enforcement Division's Internet
Surveillance program.