Around May 2000 (eom)
How old is this article? MMs Dirty Work By Jack Burney
Published by OTCNN.com
If you have a nasty disposition, an undefined anger at the world in general, and a gift for venomous verbosity, here’s the perfect job for you: Paid Basher for the MMs.
Any illusion that such tactics are beneath the MMs was shattered recently when a Florida court issued an injunction again one of the defendants, "Cats3," in the lawsuit filed by QuestNet Corp. (OTCBB: QNET). "Cats3" turned out to be Jerome Rosen, senior trader with J. Alexander Securities (ALEX), a major market making firm.
Rosen was enjoined from "publishing any false and defamatory statements concerning QuestNet and its current and former officers, directors, and employees in any manner," and from "interfering with any contractual/business relationships between Quest Net and its employees, customers, suppliers, consultants, shareholders and/or investors."
Now, InvestAmerica (OTCBB: INVT) has subpoenaed Raging Bull to identify 14 INVT-bashers who posted on RB’s message boards, and is waiting for the response.
"Purpose of the suit," said Bryan Kitts, director and secretary-treasurer of INVT, "is ultimately to find out if any of these 14 bashers is employed directly or indirectly by a market maker or by a member firm of the SEC or the NASD."
If they are, as INVT expects, then ultimately, the next question is: "Is the entity that employed the bashers responsible for the actions of its employees?" If anyone is transmitting messages designed to enhance the position of his employer or influence the price of the stock to the employer’s advantage, what is the employer’s culpability?
The INVT complaint asserts causes of action alleging violations of the Racketeering Influenced and Corrupt Organization or RICO Act, the Massachusetts Consumer and Business Protection Act, and common law defamation. It alleges that the defendants have conspired to post statements on Raging Bull.
Hi, I read your reply to Claire re InvestAmerica(Optica). I would like to know if this company is "dead in the water"?? I bought 2,000 shares when it cost 22 cents. It has gone down ever since. Just looked over company profile and there are only about 14 employees and no activity going on.
What is the story on this company. I only invested in this company because I heard about it from another person.
Thanks, new subscriber
crthbull, hello I am a new investor in this stock! I manage the DNAP at IHUB! Can you tell me
if the company will get the financing they need this year? Looks like a big project to roll out
20,000 miles of fibre optic lines. Do they have the clout to bring about this type of financing!
They have about 200,000,000 shares(?), but the o/s is not to large! Do you think they will give
stock warrants to venture capitalists as a means of getting the money?
INVT plan looks good on paper!!! TIA
Hi Claire- welcome. I don't think this is anything more than the natives getting restless or some MMs backing of to let the stock make a run up in order to ride it back down. If you bot at 1 or lower then it could be a nice swing trade. Otherwise I would say we are still a few days or weeks from a Press Release about the 500 mil equipment lease. Hang in there. Ian Archibald told me good things should be coming and said that the first turn on of fiber for Optica is scheduled for April/May 2001. I would say that just ahead of that is when you might want to load up if you are trying to get more.Of course, the way this market is you may not see these prices at that time.
Hey Rusty- How goes things, welcome.
Sorry it took so long to get back to you. The meeting went well and in fact I will be back in their new office next week for another meeting.. Ian explained the true infrastucture of Optica, Zed and INVT. A man named Brian Hurd is the behind the scenes guy that is, along with two other exec.'s, handling the decision on the RFI for the equipment. The interesting thing about their equipment lease is that is is a new twist on things as I suspected. Most small cap companies like INVT don't go asking for a another company (supplier) such as a Nortel or 3COM to step up to the plate and provide the equipment AND the financing. This is precisely what INVT is doing. If they pull it off it will be quite a coup! By the way it should be announced within the next few weeks but the paperwork is humongous according to Ian and it may take a little longer to make a decision than originally expected. Also, even when the stock hit the 11 dollar range back in May (?) Ian and Brian did not dump stock as some people might think. They still are holding onto most of their shares. That is a good sign. I will try to stay on top of the issues with these guys (I live a few miles away) and let you know more as things progress rather than a lot of hype and BS like the Raging Bull board somtimes gets.
I would love to know how your meeting with Ian goes, please post any insights you leave with. I am hoping for a very bright (pun intended) future for this company.
Thanks, do you have a position ? Would like to try and have a spam/bash free positive board. Have been on RB board for a while and it has gotten long winded and negative at times. Also welcome insights into other stocks if you have a long or short suggestion. Please though do your DD before posting. Thanks again.