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Some brokerage dealers are so arrogant that they would rather pay millions of dollars in SEC fines than pay back ill-gotten moneys, or cover naked shorts. So the SEC gets their pay.
Nationally-Renowned Bankruptcy Attorney
Gary L. Blum to Head Becker & Poliakoff's
Bankruptcy Practice
[]FT. LAUDERDALE, FL, May 12, 2003 - Becker & Poliakoff, P.A., a Florida-based, statewide and international commercial law firm, today appointed Gary L. Blum to head the firm's growing Bankruptcy & Financial Restructuring Group. In that capacity, Mr. Blum will work closely with Ivan Reich and Jason Burnett, who oversee the bankruptcy group's two main offices in Fort Lauderdale and Jacksonville, respectively.
Mr. Blum has concentrated his law practice exclusively in the area of bankruptcy and insolvency law for over 40 years and has been lead counsel in numerous high profile bankruptcy and reorganization cases throughout the country. His work includes serving as counsel to the Equity Committee in the Allegheny International Corp. cases, with its complex valuation and legal
issues and extensive corporate governance contests which produced the first
successful public company stockholders' proxy fight in Chapter 11.
Most recently, along with Mr. Reich, Mr. Blum led Becker & Poliakoff's representation of the Official Unsecured Creditors' Committee of Conseco Finance Corp. and Conseco Finance Servicing Corp., subsidiaries of Conseco, Inc., which filed the third-largest Chapter 11 bankruptcy in U.S. history on December 17, 2002.
"The firm's Bankruptcy & Financial Restructuring Group has been one of our top growth areas," said Alan Becker, a founding shareholder of Becker & Poliakoff, P.A. "Adding an attorney the caliber of Gary Blum is going to increase that growth exponentially. With Gary here to lend his experience, expertise, and extensive network of contacts, we're very excited about the opportunities for the group in this expanding area of the law."
Mr. Blum has been actively engaged in more than 600 bankruptcy, reorganization and restructuring cases during his career. His advocacy has included representation of secured, unsecured and partially secured institutional and other creditors; creditors' committees; equity committees; debtors; trustees; and special interests. Industries served have included banking and finance, airlines, electric utilities, oil and gas, manufacturing, real estate, hotels, and retail chains.
Mr. Blum's experience covers all aspects of bankruptcy litigation, including avoidance and recovery of preferences, fraudulent conveyances, corporate governance issues and invalidating voidable liens and encumbrances.
"Having worked with Gary on a number of cases and experienced the benefits of his vast knowledge of bankruptcy law, I am truly excited about working with him on a full-time basis," said Mr. Reich.
Recent cases for Becker & Poliakoff's Bankruptcy & Financial Restructuring Group have included the Naranja Lakes Chapter11 cases, which Mr. Blum and Mr. Reich successfully concluded. The cases were filed in Miami and involved novel real property, condominium and bankruptcy issues stemming from the destruction of improvements to real property caused by Hurricane Andrew. The firm also recently represented the Official Committee of Unsecured Creditors and the Liquidating Trustee in the Tutor Time Learning Centers bankruptcy, and served as counsel to the Official Committee of Unsecured Creditors in the American Financial Group of Aventura filing.
Mr. Burnett, the head of the group's Jacksonville office, said "While our bankruptcy group has already achieved considerable success to date, we now have a tremendous opportunity to work with Gary and learn from him to make this practice even better."
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES ACT OF 1934.
Date of Report (Date of Earliest event reported): September 3, 2004
Commission file number: 000-31735
NANOSIGNAL CORPORATION, INC.
(Exact Name of Registrant as specified in its charter)
Nevada 88-0231200
(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification Number)
5440 W Sahara Ave, Suite 206
(Address of principal executive offices)
Las Vegas, NV 89146
(City, State and Zip Code)
(702) 227-5111
Company's telephone number, including area code
ITEM 8.01 Other Events
NanoSignal Corporation, Inc. has engaged Gary L Blum, 3278 Wilshire Blvd.
#603, Los Angeles, California 90010, 213-381-7450 as securities counsel to
the company. Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this Report to be signed on its behalf
by the undersigned hereunto duly authorized.
September 3, 2004 NANOSIGNAL CORPORATION, INC.
By /s/ Mr. Scott Ervin
------------------------------
Mr. Scott Ervin, CEO
BNZ freezes Access Brokerage's accounts (sounds shorty -Sky)
07.09.2004
10.25am UPDATE
Bank of New Zealand has frozen all accounts held in the name of Access Brokerage, which was yesterday placed in liquidation after a client fund shortfall of around $5 million was discovered.
Access tended to be used by small investors who traded on the internet. Investors were given a BNZ account number to put money before they would buy the shares.
BNZ said in a statement this morning that all accounts in Access' name, including trust accounts, had been frozen.
The bank said the trust accounts operated in the same way as a solicitor's trust account.
"The clients' relationship is with Access Brokerage; only Access Brokerage can authorise the withdrawal or deposit of funds from the trust accounts that are in its name. By law, the bank can respond only to the instructions of Access as the trustee, its authorised nominee, or the liquidator. Bank of New Zealand does not operate the accounts in any way," the bank said.
Owen Gill, BNZ corporate communications manager said the bank hoped to receive instructions from the liquidator on arrangements for the frozen trust accounts in the next few days.
Mr Gill said Bank of New Zealand customers who had personal call accounts for the purposes of on-line share-trading were unaffected by the freezing of the trust accounts.
"It is only accounts that are in the name of Access Brokerage that are frozen; accounts that customers may have used for the purpose of personal on-line share-trading via the Bank of New Zealand website are not frozen and customers can access funds in those accounts," he said.
Liquidators Michael Stiassny and Brendon Gibson of Ferrier, Hodgson and Co were appointed yesterday following a 48 hour investigation by stock exchange operator NZX.
NZX chief executive Mark Weldon told Radio New Zealand today that Access' acting managing director and 91 per cent shareholder, Bill Garlick, contacted the exchange after the close of trade on Friday to advise there might be a problem.
Mr Garlick has been acting managing director for several weeks, filling in for fellow director Peter Marshall who was on sick leave.
An initial investigation by NZX over the weekend found that Access' client funds trust account did not have enough money in it to meet client obligations.
NZX member firms are required to sign monthly declarations as to the state of their client funds and are also subject to regular in-office audits by the NZX. Mr Weldon told Radio NZ today that Access had signed its declaration last month and was due for an audit next week.
"Unfortunately when you live in a society and there are laws and rules you have to make a choice at points in time whether you believe people's books and their signatures, or you are in there every day. It's a balancing act," Mr Weldon said.
As well as declaring Access in default, NZX has also referred the matter to the Minister of Commerce, the Securities Commission as well as the Serious Fraud Office.
- NZPA
Keeping elderly healthy is major challenge for doctors: WHO
2 hours, 23 minutes ago
GENEVA (AFP) - Keeping old people in good shape is one of the biggest challenges facing the health sector with the number of people aged 60 and above expected to top one billion by 2025, the World Health Organisation warned.
Launching an initiative to boost the standards of basic care for senior citizens, the United Nations (news - web sites)' health body warned that doctors globally are ill-prepared to deal with the rapidly ageing society. "WHO has recognized the critical role primary health care centres play in the health of older people worldwide," said Catherine Le Gales-Camus, assistant director general at WHO's noncommunicable diseases and mental health unit. "Supporting older people to remain healthy and ensure a good quality of life in their later years is one of the greatest challenges of the health sector in all countries," she said in a statement. Today's 600 million people aged 60 years and over is forecast to hit more that one billion by 2025 and reach two billion by 2050, WHO said, noting that the longer a person lives the more likely they will catch a chronic disease. Silvia Peril Levin, a technical officer at WHO involved in the ageing project, explained that surgeries and clinics in rich and poor countries are not traditionally trained to deal with an increasing number of grey patients. "In the end, more doctors will end up dealing with older persons and the problem is that most of the centres don't know how to cope with this increase in older persons," she told AFP. The initiative -- Towards Age-Friendly Primary Health Care -- is designed to help improve training and provide information on the needs of the elderly who are more susceptible to illnesses such as cardiovascular diseases, diabetes and Alzheimer's, WHO said. Failure to tackle such illnesses early leads to more time and resources spent on helping elderly people, possibly at the expense of children and other priority patients, it added. The health body ultimately aims to establish a set of minimum standards to determine how well surgeries treat elderly patients. The initiative was launched at a global conference on ageing that is being held in Singapore.
Belmont Stockbroker's Death A Homicide
POSTED: 5:05 pm PDT August 31, 2004
UPDATED: 4:30 pm PDT September 1, 2004
WOODSIDE -- Authorities on Wednesday classified the death of a 37-year-old Belmont stockbroker found dead in his mangled Mercedes Tuesday as a homicide.
Michael Fields' crumpled black car -- described as in "catastrophic condition" was found just before 7 a.m. Tuesday morning after it apparently fell from the highway into an embankment near Runnymede and Canada roads and crashed into a tree hours earlier.
Video
Video On Demand: Belmont Stockbroker Dies In Mysterious Car Crash
Coroner Robert Foucrault confirmed what investigators suspected on Tuesday -- that Fields' death was no accident.
"The cause of death of was determined to be a gunshot wound," Foucrault said.
The gunshot itself was probably fatal and Fields probably died before the crash, the coroner said. Foucrault refused to offer details on Fields' injuries or the location of the gunshot wound.
On Tuesday, Fields followed his weekday routine, leaving his Belmont home about 2:30 a.m. and heading southbound on Highway 280 toward San Jose. He never arrived at his San Jose office.
The sheriff's office said Tuesday that at least one bullet hole was found on the car and a firearm was found near the highway's center divide, approximately in the location where the victim veered off the road.
The homicide is of the "highest priority" for sheriff's department, Capt. John Cuneo announced today. The department set up a roadblock early this morning between 2:30 and 4 a.m., distributing fliers in hopes that morning commuters may have seen something suspicious Tuesday morning.
While highway commuters may help solve the crime, Cuneo assured that citizens have nothing to fear on the road. "There's no indication that this was a sniper type of activity," he said. "We believe this to be an isolated incident."
So far, the fliers have netted authorities have no solid leads in the crime. The sheriff's office is investigating the possibility that road rage led to the shooting.
However, "We're not ruling anything out," Cuneo said.
Anyone with potential information on the crash is urged to call Detective Bob Arnaudo at (650) 363-7823
There seems to be a cup and handle forming.
Pretend Florida was the company and wanted consessions with the Hurricane that would stall the end results and possibly avert the conflict. They get the concession and the Hurricane goes away. Only to resurface later.
http://www.ssd.noaa.gov/PS/TROP/DATA/RT/FLOAT/VIS/20.jpg
Yes in a third world society like canada, but real companies that announce merger agreements at least by the second PR which is proven by most firms listed on the Nasdaq or NYSE don't do that it is not good buisness period. Penny stocks do it because they have people out there dumping and pumping their stocks under the radar of the SEC the ones who loose are the shareholders because the terms of the deal once the first PR pumps it up and drags it out over a month get worse instead of better. We are seeing pumps and dumps. You call that holding their cards close to their chest. Why don't they just keep thir dam mouth shut untill they can produce, and publish results like a real company. I have seen what they are doing with other companies and the shareholders with the other companies got screwed, holding the cards. MXR did the same thing and the merger terms fell apart the terms were said to be in the shareholders best intrest that they buy only parts of the companie. Well shareholders said screw you and dumped. Their stock tanked from 80 cents a share to 6 cents. The company that supose to have sold some of the assets to MXR or now called RCO is doing great I saw a PR that they were getting big contracts with their messaging system. This is just one recent example of the cards to the chest crap. String the shareholders out over a six month period with talks of big things to come. well we will see. The dump will be payback for a lie. Then the stock will go to .0002 but on the other hand... Go CDED!!!!
The whole deal stinks, smoosin with no numbers is Bullshieite
Thanks I needed that ...again
I concur, im looking into it. The shareholders have to be reassured at the same rate of progression as the stock price over the next six months, including the news on the company individual filing the lawsuit. That, his reassurances are also the shareholders , and not just in hear say or word of mouth. If not the share price could retrace. Besides I could think of a better way to trap a short or exspose them, but it doesn't take a rocket scientist to figure it out if you are looking at the CSI date and time line, along with but not limited to the money trail. Oh! yes, this is a crime scene.
It is important that anyone caught naked cover before the rise.
A class action by all shareholders could get this gone. That would take the presure off NNOS. Im glad they are taking the abrasive route to resolve this. Otherwise they would have to follow the fate of many other OTC companies by getting CD after CD to stay afloat, when it is not the real market pulling them down but boiler room operations at the brokerage houses.
CT Scans May Have Dangerous Downside
Study: Radiation Levels Increase With Repeated Scans
UPDATED: 10:29 AM EDT September 1, 2004
BOSTON -- Full-body computed tomography, or CT, scans have become an increasingly popular way to peek inside the body for hidden disease. For about $1,300, a full-body CT scan could give you a 3-D look inside the colon, which can spot a potentially cancerous polyp.
CT SCANS
[]Repeated Scans Carry Risks
[]Study Abstract
But a new study suggests repeated scans may have a dangerous downside: plenty of radiation.A study published in the September issue of the journal Radiology found that the scans are comparable to radiation doses received by some atomic bomb survivors where there's a clear increased risk of cancer.Researchers from Columbia University found that the cancer mortality rate for a 45-year-old who undergoes one full-body CT scan is only slightly elevated to one in 1,200. But the risk is much higher -- one in 50 -- if the scans are annual for 30 years.Dr. Max Rosen, of Harvard Medical School, said annual scans would be inappropriate.Thanks for taking our survey. Check back later for updated results.Would You Get A Full-Body CT Scan?Would you elect to get a full-body CT scan?Yes, I already have.Yes, if I felt I needed one.Yes, but only if referred by a doctor.No, never. "It's not an exposure that you would want to have every year, but if this is something you were going to have once or once every five years or every 10 years, it really becomes much less significant," he said.Rosen said that it's important to understand the benefits."In a group of smokers who underwent lung cancer screening, about 2.5 to 3 percent of those people were found to have asymptomatic lung cancers," Rosen said.The report considered risk only for adults without symptoms who elected to have the high-tech checkups. Researchers said when used diagnostically on patients sent for specific medical problems, the benefits of full-body scans far outweigh the risks."The risk-benefit equation changes dramatically for adults who are referred for CT exams for medical diagnosis," said Dr. David Brenner, the study's lead researcher.But the American Cancer Society said that until long-term studies are conducted, it cannot endorse full body CTs, pointing out that radiation is not the only risk."One gets 100 times the radiation that women get from a mammogram," said Dr. Gena Carter, of the American Cancer Society. "Things have been found on the full-body CT scans that lead to biopsies of many different kinds when there's nothing really wrong."The researchers note that different CT scanners will produce different doses -- thus, different risks. Full-body CT protocol is not standardized, so radiation exposure may vary among centers. Distributed by Internet Broadcasting Systems, Inc. This material may not be published, broadcast, rewritten or redistributed.
http://www.nbc11.com/print/3698075/detail.html?use=print
---------------------------------------------
As we all know, NNOS uses no harmful radiation!
Go NNOS! Go Baby Go!
Glory! Glory! Hallelujah! Glory! Glory! Hallelujah! Glory! Glory! Hallelujah! His truth is marching on
The Battle Hymn of the Republic
Mine eyes have seen the glory of the coming of the Lord
He is trampling out the vintage where the grapes of wrath are stored,
He has loosed the fateful lightening of His terrible swift sword
His truth is marching on.
Glory! Glory! Hallelujah!
Glory! Glory! Hallelujah!
Glory! Glory! Hallelujah!
His truth is marching on.
I have seen Him in the watch-fires of a hundred circling camps
They have builded Him an altar in the evening dews and damps
l can read His righteous sentence by the dim and flaring lamps
His day is marching on.
Glory! Glory! Hallelujah!
Glory! Glory! Hallelujah!
Glory! Glory! Hallelujah!
His truth is marching on.
I have read a fiery gospel writ in burnish`d rows of steel,
"As ye deal with my contemners, So with you my grace shall deal;"
Let the Hero, born of woman, crush the serpent with his heel
Since God is marching on.
Glory! Glory! Hallelujah!
Glory! Glory! Hallelujah!
Glory! Glory! Hallelujah!
His truth is marching on.
He has sounded form the trumpet that shall never call retreat
He is sifting out the hearts of men before His judgment-seat
Oh, be swift, my soul, to answer Him! be jubilant, my feet!
Our God is marching on.
Glory! Glory! Hallelujah!
Glory! Glory! Hallelujah!
Glory! Glory! Hallelujah!
His truth is marching on.
He has sounded form the trumpet that shall never call retreat
He is sifting out the hearts of men before His judgment-seat
Oh, be swift, my soul, to answer Him! be jubilant, my feet!
Our God is marching on.
Glory! Glory! Hallelujah!
Glory! Glory! Hallelujah!
Glory! Glory! Hallelujah!
His truth is marching on.
ln the beauty of the lilies Christ was born across the sea,
With a glory in His bosom that transfigures you and me:
As He died to make men holy, let us die to make men free,
While God is marching on.
Glory! Glory! Hallelujah!
Glory! Glory! Hallelujah!
Glory! Glory! Hallelujah!
His truth is marching on.
--------------------------------------------------------------------------------Julia Ward Howe
The new reforms close the loopholes and force companies to file the 8-K in short order, frequently within 24 to 48 hours of the triggering event.
What's more, the penalty for failing to get the job done on time is severe. A company that misses the requirements wouldn't be able to use SEC "short-form" registration documents the next time it files to raise additional capital.
That short-form is like a 20-page college term paper. The long-form that 8-K abusers get stuck with is more like a 150-page master's thesis; the long version would be more costly to management and likely would turn off prospective lenders.
For a savvy investor, the new 8-K could make for improved decision-making. Simply put, delving into the SEC database to examine recent 8-K filings before making a buy decision would make a lot of sense.
http://cbs.marketwatch.com/news/story.asp?guid=%7BC0DD0073%2DDB53%2D4D2A%2D8E35%2D252B8679B9F9%7D&am...
Does insight have the same odor as BS?
Somebody gave me a tip on a message board when the stock was trading around .57 per share. That stock since hit $120.00 split, and split again. all in a matter of years. The longer we invest lets hope we get smarter, and can recognize a future market trend... trend. TASR was the stock.
"groundhog day" LOL ... what about this>>>>
Rocky I just got off the phone with Bullwinkle there filing tomorrow...
Rocky I just got off the phone with Bullwinkle there filing tomorrow...
Rocky I just got off the phone with Bullwinkle there filing tomorrow...
Rocky I just got off the phone with Bullwinkle there filing tomorrow...
Rocky I just got off the phone with Bullwinkle there filing tomorrow...
Boris stop that Moose, Im trying Natasha!
Maybe we can get John Tesh to write us a song.
Titled: NanoSignal MRI'z or NanoSlices Baby
Welcome the return of the French Foreign Legion.
Private security will employ the toughest of the tough
Those that are not already in our own military.
The Jobs will be plentiful. Reabilitated ex-cons, maybe. They got to work somewhere, flipin burgers will eventually piss them off. I say give them some real work, an adventure of a lifetime.
Sometimes things seldom experienced can be the thing that brings a person full circle, and back to apreciating reality. IMO
Bush proposes to revamp the military by implementing a Just in Time approach to deployment in Europe and Asia. Troops will be deployed where and when needed. No 100 thousand in Europe, and Korea. 50 thousand in Asia, and Afghanistan if those numbers serve me correctly. Troops on the FLY! What does or could this mean for UGHO? Or let me say what I envision.
What has already started in today's press release is Security grand scale under contract? If a company wants an elite security service in the future they private contract. The mass amounts of troops withdrawing will create hot zones. Now Corporations have to spend some of their billions for contract workers and managers overseas protection.
The US taxpayer will no longer be footing the bill to provide local protection by military personnel. Also I think this will be a wake up call for the UN to provide their services that they have been eagerly wanting to deploy. Still there will be gaps in security, and we are entering into an everything done by private contract society. Government is reinventing free enterprise, you play, you pay!
There is another variable. Payroll taxes aren't paying the government payrolls state side. To many people out of work for too long. Bringing the troops home until needed is prudent. It will save the tax coffers that im guessing is depleting faster that a keg of beer at a biker convention.
Ok, you are saying that it was there then all of a sudden it wasn't there? Man... thats some Polterguise shit!
Didn't they hire some lawyers to look into it a while back. I remember hearing it on that last conference call.
"Reliable Sources Acting on Behalf of NanoSignal Corp"
Yea, im impressed. Time for some Broker firm disclosure, and covering!
News - 8:02pm 08/16/04 NanoSignal Corp
Reliable Sources Acting on Behalf of NanoSignal Corp. Have Notified a Significant Market-Making Firm of Their Awareness of Naked Shorting Being Allowed That Could Exceed the Total Number of Outstanding Shares
LAS VEGAS, NV -- (MARKET WIRE) -- 08/16/04 -- NanoSignal Corp. (OTC: NNOS) has been notified by reliable sources acting on the company's behalf that they believe select dealer market-makers have shorted without able delivery, possibly hundreds of millions of shares of NNOS stock, possibly well over the entire amount of common shares issued and outstanding.
Company management is disappointed that such behavior is not illegal, let alone monitored by the SEC. "This type of activity has caused irreparable damage to over 7,000 small companies that have been shorted out of existence resulting in over 13 trillion dollars taken from investors and small companies like ours who are sincerely endeavoring to bring new technologies to commercialization. As with most small issuers, working capital is obtained through the issuance of equity and with valuations being destroyed many companies and their shareholders become victimized," commented NanoSignal Corp'sChairman Dr. Rupert Perrin. Dr. Perrin continued, "We believe that we will overcome this obstacle and are firmly dedicated to achieving the deployment and commercialization of our Slices(TM) Technology."
About NanoSignal Corp.
NanoSignal Corp. is a medical technology company introducing its patented Slices(TM) technology to the MRI industry, allowing radiologists and technologists to perform advanced imaging features beyond the capabilities of the standard MRI computer.
Information about NanoSignal Corp. is available at www.nanosignalcorp.com.
Contact : investor@nanosignalcorp.com
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by the lead-in "Looking Forward." These statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results may vary materially from those in the forward-looking statements as a result of the effectiveness of management's strategies and decisions, general economic and business conditions, new or modified statutory or regulatory requirements, and changing price and market conditions. No assurance can be given that these are all the factors that could cause actual results to vary materially from the forward-looking statement.
NanoSignal Corp.www.nanosignalcorp.com
Contact: investor@nanosignalcorp.com
She was last time I saw her. -Thanks
The End Of Use issue
My new DVD player won't play the new long playing Blue reader Disk so it now becomes the fate of my $20 Sony FM Walkman, replaced by DVD players, and Ipods.
Theres the cost of conversion, and present inventory of DVD
or DVD storage devices.
Theres the question as to will the standard blank DVD be able to record the extra capacity?
If they padded the books or floated some numbers, they will just have to pay the pipper like hundreds of firms that litter the court with improper corporate activity.
Hey! Just saw more DVD news.
Check out the last couple of paragraphs in the PC World article. Yahoo and Google getting into the fray?
Also if a market leader in it's market sector is found misreporting numbers. That means wallStreet valuated that particular sector to high so the entire sector drops untill they sort things out. It happens all the time. The storage sector, the airline sector, Beef sector, so no one can say why are we going down if they are watching every aspect in their investment. Of coarse those that don't nik pic don't complain much.
http://news.google.com/url?ntc=0M4B0&q=http://www.azcentral.com/arizonarepublic/ae/articles/0815...
http://www.pcworld.com/resource/printable/article/0,aid,117368,00.asp
It will come down to vested intrest.
Royalties, private stock, and venture capital
The inventors will get royalties or cash out
The employees like Google will become millionares
The Venture capitalist will get their rewards
Any Collage that participated in research just like with Google will get paid also.
All the companies involved depending on their imput
The old rule always aplies. "You only get out of it what you put into it"
Investors Who Purchased Netflix, Inc., Announces Class Action Lawsuit And Seeks to Recover Losses -- NFLX
LOS ANGELES, Aug. 6, 2004 (PRIMEZONE) -- Notice is hereby given by Glancy Binkow & Goldberg LLP that a Class Action lawsuit was filed in the United States District Court for the Northern District of California on behalf of a class (the "Class") consisting of all persons who purchased or otherwise acquired securities of Netflix, Inc. ("Netflix" or the "Company") (Nasdaq:NFLX) between October 1, 2003 and July 15, 2004, inclusive (the "Class Period").
A copy of the Complaint is available from the court or from Glancy Binkow & Goldberg LLP. Please contact us by phone to discuss this action or obtain a copy of the Complaint at (310) 201-9150 or Toll Free at (888) 773-9224, by email at info@glancylaw.com, or visit our website at www.glancylaw.com
The Complaint charges Netflix and certain of the Company's executive officers with violations of federal securities laws. Plaintiff claims that defendants' omissions and material misrepresentations concerning Netflix' operations and performance artificially inflated the Company's stock price, inflicting damages on investors. Netflix is the largest online movie rental subscription service in the United States. The complaint alleges that defendants deliberately understated the Company's "churn" rate (the percentage of its subscribers that cancelled per month) by utilizing a novel definition of churn that artificially decreased the Company's reported churn rate during quarters when the Company was adding large numbers of new subscribers. Additionally, Defendants repeatedly touted the Company's impressive subscriber growth without any direct disclosure in Netflix' earnings releases or SEC filings concerning the large percentage of subscriber cancellations during the respective quarters.
On July 15, 2004, after the close of trading, the Company for the first time disclosed that while the Company had added 537,000 new subscribers during the second quarter, in the same period it had suffered 422,000 subscriber cancellations, and though the Company added 1,343,000 new subscribers during the first half of 2004, in the same period it had suffered 737,000 subscriber cancellations. In response to this news, Netflix shares plummeted 38% over the next two days.
Plaintiff seeks to recover damages on behalf of Class members and is represented by Glancy Binkow & Goldberg LLP, a law firm with significant experience in prosecuting class actions, and substantial expertise in actions involving corporate fraud.
If you are a member of the Class described above, you may move the Court, not later than September 20, 2004, to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by e-mail to info@glancylaw.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca
CONTACT:
Glancy Binkow & Goldberg LLP, Los Angeles, CA
Lionel Z. Glancy (310) 201-9150 or (888) 773-9224
Michael Goldberg
info@glancylaw.com
www.glancylaw.com
OT: Blue Lasers
A group of consumer electronics makers said on Wednesday they approved the format for a new generation of discs that can store five times the data of DVDs at the same cost -- enough to put a full season of "The Sopranos" on one disc.
The group, called the Blu-ray Disc Founders, said it has approved version 1.0 of the BD-ROM format and made it available to disc manufacturers.
Blu-ray, so named because the standard requires a blue laser instead of the red one used for DVD reading and recording, is designed to store 25 gigabytes of data on a single-layered disc.
It is aimed at recording and storing high-definition video which studios, video renters and retailers see as a major growth opportunity for the home video market in coming years.
http://www.blu-ray.com/
http://www.blu-ray.com/forums/viewforum.php?f=10
OT: Blue Lasers
A group of consumer electronics makers said on Wednesday they approved the format for a new generation of discs that can store five times the data of DVDs at the same cost -- enough to put a full season of "The Sopranos" on one disc.
The group, called the Blu-ray Disc Founders, said it has approved version 1.0 of the BD-ROM format and made it available to disc manufacturers.
Blu-ray, so named because the standard requires a blue laser instead of the red one used for DVD reading and recording, is designed to store 25 gigabytes of data on a single-layered disc.
It is aimed at recording and storing high-definition video which studios, video renters and retailers see as a major growth opportunity for the home video market in coming years.
http://www.blu-ray.com/
http://www.blu-ray.com/forums/viewforum.php?f=9
So who really will have the lowest price
including hidden charges per movie rental
If a tree fell in the woods would it make a sound?
>>> Not if it was shorted!
I didn't want to guess wrong and post Wed. but at 9:30 Wed I saw two large blocks go off at .06 but no volume spike, and I said Oh Oh! I bet they are shorting this to .03 then I factored in that everytime I say that im off .005 so im guessing the bottom will be .025
Nasdaq made some rule changes regarding naked shorts
I read recently that the brokerage firms have until September 24 or 27 to complete the upgrades to handle the new rules. So they are going to wait until then to enforce.
So when do you shorts cover? Come on you can tell the Skyman or the yardman at Rikers. LOL
When Martha was asked.
What do you think of the StockGate Scam?
She replied... Im glad I ain't n dat chit!
Take my wife... please!
I mean really, how many people save those "use on your next order" coupons stuck on the pizza box with something that feels like bugger glue? What is that stuff?
All you are thinking about is digging into that luscious pizza.
Who saves the coupons besides me?
Just like Pizza
Hold the anchovies!