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Hmmmm . . .Sarraf & Gentile share offices with Shalov, Stone & Bonner - boy this smells:
By: _nilrem
02 May 2006, 09:17 PM EDT
Msg. 176144 of 180120
Jump to msg. #
Sarraf Gentile LLP hires a bouncer:
Today I visited Sarraf Gentile twice. The first time was about 11:45am. Their door was locked (they occupy 2-3 back offices of the larger law firm Shalov Stone & Bonner), and no one answered when I knocked on their door (they have no bell), so I left.
Later on in the afternoon I went back, and this time their door was open, so I went in, and in the same office I was in yesterday, was the same guy at his desk, and another younger guy sitting on another desk. I asked "Is Joseph Gentile here?", upon which the younger guy hopped off his desk and walked toward me, saying "Come here". So I followed him out of the room into the hallway and out the exit, thinking he was leading me to Joseph Gentile in another office across the hall at Shalov Stone & Bonner.
He proceeded to go back in, locking the door behind him, rudely saying "Make an appointment, like a normal person!", and walked out of sight, leaving me by the elevators.
At the bottom of the lawsuit press release it reads (my bold):
"If you would like to participate in this action or would like additional information about the lawsuit, please contact Joseph Gentile at Sarraf Gentile LLP, 485 Seventh Avenue, Suite 1005, New York, New York 10018 (telephone: 212-868-3610; e-mail: joseph@sarrafgentile.com).
I don't see where it says one must make an appointment first!
I then proceeded to call Joseph Gentile on my cell phone, and with no answer, left this message:
"Hi Joseph. My name is xxx xxxxx, and I'm a GTE shareholder looking for additional information about the lawsuit, and I was just rudely escorted out of your offices and told to make an appointment like a normal person. From your press release, it doesn't state that an appointment is necessary, and as I was in the neighborhood, I thought I'd drop by
to get the information I seek...and speaking of seeking information, you might try calling David Leinwand at Cleary Gottlieb to verify the existance of InterNafta. He is the one who is delivering the default notice to InterNafta, and if they don't exist, as you allege, who will he deliver the notice to, a ghost? I think you can take his word for it on their existance. Oh, and by the way, not GlobeTel, but a group of GlobeTel shareholders/investors will be filing a lawsuit against your firm, and considering how I was rudely treated today by personnel at your offices, I'm all for it. Just thought I should give you fair warning, and I hope you're prepared to lose big-time! Bye!" (I also left him my phone number, but no reply from him as of yet).
These lawyers are relying on an article based on a bad translation, i.e. it's $369 for a registration fee, not "working capital" and the address comment is total hearsay:
Posted by: justfrank
In reply to: None Date:5/6/2006 10:55:36 PM
Post #of 25447
I can't help but come to the conclusion that there has to be something lost in translation somewhere.
I translated
http://www.vedomosti.ru/newspaper/article.shtml?2006/05/06/106319
on another site
Note the diferences intranslations
Using http://www.systransoft.com/index.html
According to the data of federal tax service, [OOO] “Of [internafta]” with regulation capital into 10 000 rub. the citizen of Russia founded. Company was registered on November 30,2005.
Using http://www.online-translator.com/
According to Federal tax service, with the authorized capital in 10 000 rbl. has founded Open Company " Eioa?iaooa " the citizen of Russia.
Niether one of those lead me to make the assumption that Internafta has only $369 in Charter Capital. Both those translations read to me as that they paid the 10,000 rubles ($369) to register the company.
Something just isn't right
MOSCOW (Dow Jones)--Russian company Internafta, which defaulted on a $600 million deal with U.S. company GlobeTel (GTE), has only $369 in charter capital, Vedomosti newspaper reported Saturday, citing tax authorities.
The paper also said the address which the Federal Tax Service gave for the company contains only a warehouse of metal-producing company Metalloinvest-Market - which claims to never have heard of Internafta or its managers, chief executive Yevgeni Yevtukhov and founder Maksim Chernizov.
Did Dow Jones say this or was it just in that Russian news article, and DJ just repeated it, and if so these lawyers better correct their press release pronto. Also, was the "source" in the original Russian article for this claim ever identified? From the latest lawyer pr:
"According to Dow Jones, the address given for Internafta by the Federal Tax Service contains only a warehouse of a metal-producing company named Metalloinvest-Market, which claims to never have heard of Internafta or its managers.
Stock, I keep seeing people post that, but where's the "clean-up" in these AH trades today for Sirius, which trades much higher volume per day than GTE:
Price Size Exch Time
4.62 400 PAC 18:28:40
4.61 375 NSD 18:22:19
4.62 3500 PAC 17:59:20
4.62 500 NSD 17:58:59
4.62 1500 NSD 17:57:52
4.63 600 PAC 17:54:49
4.63 1664 PAC 17:54:49
4.63 170 PAC 17:54:49
4.62 566 NSD 17:54:49
4.62 434 NSD 17:54:03
4.62 1566 NSD 17:49:39
4.62 3434 NSD 17:49:20
4.62 935 NSD 17:45:15
4.62 369 NSD 17:44:26
That's a buy - green bar running through the trade always matches up with a buy when compared the same trade on ADVFN (red bars always match up to sells on ADVFN).
Stock, maybe it's still up because they are pursuing new partners in Russia as mentioned in their pr.
See the 3rd paragraph for the entire translation of the Russian article you posted. Check out the last paragraph: the writer suggests that some wonder if Internafta was trying to steal GTE's technology for another Russian company. There are several possibilites here. The Russian telecommunications business is reportedly very competitive and cutthroat. From the beginning, the GTE/Internafta deal appeared to startle and upset the usual players in the Russian telecom industry, and their analysts attacked the venture. (Sounds like competitors in the good old U.S.A.?) I recall some unnamed source in a St. Petersburg news article making the exact same allegation suggested here, i.e. given the Russian telecom history, someone might be trying to rip off GTE's technology.
Well, that is also one way of attacking your potential competiton (Internafta) - suggesting they are not legitimate and only want to rip off their new U.S. partner. And, as another poster mentioned earlier, another method is to get the government or the banks to kill the deal, probably by paying someone off. Russia is the Wild West of business and extremely corrupt. The third possibility is that some unknown Russian entity really was trying to steal GTE's technology, but I find that the most far-fetched idea of all. GTE never got started on the project, there was no way for our Russian partners to copy the technology which was never installed (Russian partners who admitted having no telecommunications experience). Submitting a business plan to a bank does not involve sharing your technology. GTE kept all the rights to the technology in this deal and Huff and crew did not share it with the Russians.
The design of federal WiMax- network on the face of disruption project NuTel Telecom, which assumes building WiMax- networks in 30 largest cities of Russia, proved to be on the face of disruption. American GlobeTel warned that if to the end of the week the partners from "internafty" do not begin to carry out their financial obligations, then the idea of the creation of all-Russian WiMax- network will be finally buried. On 6 March elapsed the control period, to which "internafta" had to complete the first stage of financing its joint project with GlobeTel Communications, which was called name NuTel Telecom. Up to this moment GlobeTel presented "internafte" the detailed business- plan, which describes delivery, installation and testing equipment for the new network, the collection of colleagues for its maintenance and a number of other organizational moments. However, as stated GlobeTel its Russian partners, financing will begin only after those standing after The "internafteye" jar will draw their final conclusion on the basis of this report. In GlobeTel they expressed their extreme disappointment with similar actions, but at the same time they do not lose the latter of the hope to save so arrogant a project. "we did not expect that" Internafta "will adhere to a similar approach to financing of project, stated director general GlobeTel To timoti Khaf. - moreover, contract, signed by us with the Russian company, this turning completely was not provided for. Nevertheless, we are ready to continue to fulfill our obligations in the expectation of the final solution from the side of banks ". True, to await Americans are ready entirely not long. "if we to the end of this week intention finance project not will provide ford with the active memberships" Of internafty ", or if its banks do not grant to us the guarantee of the fact that the obeshchannoye financing compulsorily takes place, then simply it will not remain another selection, except as to use our right to recognize this contract as that not paid, warned Mr. khaf. - as consequence, this will mean that all our colleagues in vain spent their time and efforts for the preparation of this transaction. At the same time we continue to work at our more than 20 projects, and further delays on the completion of transaction with "Internaftoy" will only distract us from these successful possibilities ". Project NuTel Telecom struck analysts and participants in the market by the scales: in 27 months it was planned to build networks WiMax in 30 largest cities of Russia, which would allow the services of the wide-band access into the Internet, IP- televisions kombinirovannoy Ip- and DEccT- telephony. Portions in the project must be subdivided equally between the American producer of equipment GlobeTel Communis.ations and Russian "Internaftoy", which was obligated into four stages to introduce sum of size of $600 of million. In this case the first part of the sum total it was planned to put already 2 February, but on the request Of "internafty" the period of payment was prolonged for one month. However, on 2 March "internafta" again asked about the postponement, true, comparatively brief - to the end of the week (i.e., until 6 March), moreover in "internafte" they explained new delay by purely technical reason. "we are assured that all problems will be solved within the next few days, reported then the director" Of internafty "Maxim chernizov. - we worked together with GlobeTel at this transaction in the course of many months, and I feel, which to us remained to make several last steps in this very complex transaction. We continue to fulfill obligations and we remain vdokhnovlennymi the fact that let us provide the population of Russia with contemporary wireless network ". Meanwhile community, until now, it remains unknown, who stands after "Internaftoy" - by the mysterious Russian investor, whom, as spoke Mr. Of chernizov, "draw not obvious economic benefits from the future project, but prospect to ensure the inhabitants of Russia with contemporary technologies". In some OF THE MEDIA were presented the hypotheses that "internafta" - the company of the well-known owner Of suleymana Of kerimova, which recently actively invests into the telecommunication business (in particular, it became the owner of the network- monopolists of the cable television in Moscow and Saint Petersburg). However, only reason in favor of this version was only certain similarity in the name of company "internafta" and structures of Mr. kerimov "Naphtha- Moscow". However, it is possible that "internafta", acting in the interests of someone of other participants in the Russian telecommunication market, originally was not assembled to carry out its obligations on NuTel Telecom and entered this project for the purpose to adopt in GlobeTel the experience of building WiMax- networks. Unfortunately, the history of Russian tele-communications remembers this type of examples. Thus, in the middle of the ninetieth it is annual the structure of "St. Petersburg communications men" together with the Finnish companies Turun Sanomat and Yritsverkot they established publishing house Russian Directories, which was planned to study the release of contemporary telephone directories. However, after Finns trained their Petersburg partners, Russian Directories unexpectedly ended its activity. Finns remained not with which, but "Petersburg telephone network" began to publish reference books on the already worked out technology.
Fine, but the Russian article(s) I read stated it as a fact, i.e. that Suleiman Kerimov (who owns Naptha Moscow) was involved with Internafta and there was no confusion about the two. It simply stated that, Kerimov, owner of Naptha Moscow, was one of the founders of Internafta which was doing the deal with GTE. FYI, I don't see much similarity between the names Naptha Moscow and Internafta.
Also, I never saw any article in the Russian press wherein Kerimov denied the information contained that article, or corrected the Russian press in suggesting that he was part of Internafta which was involved in the GTE deal.
If I were a Russian billionaire and I wasn't involved in a $600 million dollar JV agreement as stated in the press, I would have denied it.
Board members, I am not going to waste my time finding the original posts, but there were many posters who posted on the Yahoo board (and probably the RB board as well), a link to Russian news article(s) describing the newly-formed Internafta and its contract with GTE as being related to Suleiman Kerimov, a Russian billionaire, member of the Russian dumas, and owner of the company Nafta Moscow. The news links were legitimate and no one disputed their veracity. (I always do any necessary translations on Babelfish).
Sorry, Ken, but think that's much less likely than his large interest in MWave, a potential competitor to GTE, as a factor. Even he knows GTE would never borrow from a short seller who has profited by attacking GTE.
LA-LT - see msg. 25120 and 25121 - Sanswire is real and that poster has been to GTE's Palmdale Sanswire hangar more than once. Go to RB board and click on her name and check out all of her messages re her visits to Palmdale. She can even give you the address.
Also, noted aerospace astronauts and engineers like Rick Seafross, Bob Jones, and Eric Heininger, are currently working with GTE to develop the stratellite. Do you think it is all a figment their imagination?
As Eric Heininger, one of the aerospace industry's pre-eminent structural engineers, says in the message below, he's staking his name on Sanswire's stratellite, and that doesn't come lightly:
Posted by: ShakeyGuy
In reply to: ShakeyGuy who wrote msg# 24766 Date:5/2/2006 7:30:47 PM
Post #of 25118
Eric and GTE + reply to justfrank
I contacted our new engineer today and this is excerpts from his reply. I do not believe in posting the entire reply as I feel that’s invasive on him.
My question:
Many of us are curious about your relationship to Pyramid. Your family name dominates the website.
Reply:
Pyramid Space is a family owned business around since 2001..
Question
Will you be splitting time between companies or will GTE be your full time position?
Reply:
I am on board to make it happen for Sanswire full-time. Wi-Fi is the future
and a reasonable cost platform is essential--first to market wins. My
specialty is prototype development, doesn't matter what it is.... IT WILL
HAPPEN..i'm staking my name on it and that doesn't come lightly.
Guess you were right justfrank-it is a family business. Sounds like he believes in our goals.
PLEASE everyone lets not bother him with questions but let him get to work making it happen.
SG
Check out Level II quotes and click on "Depth/LII". The 253200 share trade shows up as a buy (green bar running through it) and the 82000 shows up as a sell (red bar running through it - consistent w/ADVFN showing an 82000 sell at that time):
1.46 253200 AMX 18:01:34
1.44 82000 NLS 16:04:01
1.46 9000 AMX 16:00:04
1.46 100 AMX 16:00:02
1.46 2900 AMX 16:00:00
1.46 600 AMX 15:59:57
1.46 1000 NLS 15:59:54
1.46 100 NSX 15:59:49
1.46 4900 NSX 15:59:49
1.46 100 PAC 15:59:49
1.46 4900 PAC 15:59:49
1.46 100 PAC 15:59:33
1.44 3400 AMX 15:59:18
Dino, have you shared this with GTE?
Yes, they do test systems within the hangar, but then bashers don't know much about the testing. Suggest you do a little research before bashing.
Looks like strat testing was done outdoors:
Re: More on Update from Palmdale, CA
by: siriuslyricher
Long-Term Sentiment: Strong Buy 05/05/06 12:37 pm
Msg: 197524 of 197524
Read the previous post asking if strat testing was done outside the hangar. Here's flying-j's response: YES:
From RB:
By: flying-j
05 May 2006, 12:34 PM EDT
Msg. 177722 of 177722
(This msg. is a reply to 177697 by fatsoo.)
Fatsoo, I live south of Akron, Ohio. Going to get my house/yard work done, so we can go out for another ten days! Looking for Palmdale - Edwards area. I was told some of the testing was done outside and, since padding was added to these "ladders" (60-ft platform ladders), this information appears credible. Also, there were two new, white storage tanks. I have pictures and of our truck parked next to the hangar, but I can't post for security reasons. I am making a list of questions to ask if I should get the opportunity to ask them. Thank you, Fatsoo. Trucker-MaryLou
Additional update from Palmdale:
By: flying-j
05 May 2006, 11:59 AM EDT
Msg. 177678 of 177678
(This msg. is a reply to 177675 by ces571.)
ces...Two strats, and they were tested last week! The source said further testing this week! Does anyone live in the Palmdale area? Trucker-MaryLou
Update from Palmdale - BTW, this poster has been down there before and has met Bob Jones in person. You can check all of her previous messages over at RB:
By: flying-j
05 May 2006, 11:38 AM EDT
Msg. 177670 of 177676
(This msg. is a reply to 177639 by pennypirate20.)
Pennypirate, I think we will see pictures of both Sanswires soon! I just got home from visiting the Palmdale hangar area and I was told that Sanswire had been testing two airships last week. My source said there are two airships in the hangar. Also, Lockheed-Martin next door (about a mile away) has been testing a large airship every day that can be seen from Avenue P. There were new white tanks outside, next to the hangar (helium?) and huge "ladders" arranged in a semi-circle, padded. I was there last Saturday and was told to come back on Monday to talk to Sanswire people. I couldn't stay because I had to pick up at Raytheon (Tucson) on Monday. Trucker-MaryLou
FWIW - interesting post from a shareholder who claims to work at Raytheon (over at Y board); the poster is a real long, not a flipper, from what I've seen of his posts:
Re: SHorts are toast!!!!
by: nastyhellhound
Long-Term Sentiment: Strong Buy 05/04/06 05:16 pm
Msg: 196657 of 196674
Yes I do work here. There are other programs here in work which plan to use a tethered ship. There have been others in the past also. I think Raytheon would much rather have a strattelite than a tethered ship. Tethered ships can't go up as high as a strat or stay up as long. The power source is not solar either. There are several disadvantages to what's existing in comparison with GTE. I feel GTE's tech is much better and more advanced.
Posted as a reply to: Msg 196639 by quackerjack_98
Conspiracy to commit fraud is a criminal offense.
See msg. 24933.
I suggest you read the Russian news article which came out today. You wish to simplify what happened to two theories put forth by you. You are entitled to your opinion and I'm entitled to mine. GTE is a small company and extremely harsh and negative articles by Jayson around the time of the Russian deal, questioning how little GTE could accomplish such a contract, citing "sources" who questioned the technology, and Jayson essentially calling GTE a fraud, questioning GTE's current and past business dealings, integrity, etc., could have played a role in the whole Russian affair that you and I have no way of knowing.
Glow, it takes time to investigate and prepare an answer and a countersuit(s) - GTE has 20 days. And there is quite a bit to investigate here. Typically, law firms take the entire 20-day period to investigate and draw up papers.
Why not just type a list of our names and email addresses. I don't believe you need a handwritten signature for each shareholder. The SEC can check to see if we are shareholders of record.
I forwarded it to Rob Bleckman as well. I'm sure he'll let me know if there is any problem, but I don't foresee any. You have a right to your opinion and to complain. We stated the facts and asked them to check into the phony lawsuit, who was behind it, trading on that day and in AH, and to investigate the matter.
I would email that article to Bleckman. It provides further evidence and support for GTE's claims.
nilremerlin...thank you, thank you, a thousand times for going to S & G's office that day and confronting them, demanding the basis for their bogus lawsuit. We are all in your debt. I also want to thank and congratulate all of the loyal GTE shareholders who are taking the time to complain to the SEC, NY Bar Association, etc. about this coordinated, unethical, and likely criminal attack against GTE.
Baloney. The pps started going up on Thursday because it has been artificially depressed for some time. It was plainly oversold and all indicators were that it was time for a run higher. Did you forget the strong buy rating just issued that same week? Also, the pps was depressed in large part based on continued attacks by Seth Jayson of Motley Fool. Even without the Russian deal, GTE should have been at much higher levels than sub $2.00 - that is a joke.
I think Jayson's articles around the time of the contract did have a very negative effect on GTE's negotiating ability regarding payment under this contract. In responding to one of them (per that Amex rule), GTE said Jayson's attacks did have a harmful affect on their ability to conduct business (or something similar).
A poster mentioned one time that the Russians tend to put more weight on printed news, giving it more credibility than Americans do. Your guess is as good as mine whether the Russians realize how corrupt those associated with Wall Street can really be, including hedge funds, some alleged business journalists and their lawyers.
The pps started to slide on Friday BEFORE the lawsuit was filed - someone had prior knowledge. Also, it is a bogus lawsuit and you can't say that announcing the loss of a deal would have as hard or CONTINUED depressive effect on the share price if a class-action lawsuit had not been filed.
There is a world of difference between having a contract not go through (because the other guy didn't come up with the money) and indicating that you are now have possibilities to work with different Russian partners, versus being a company which created a sham contract with a fictitous partner in order to dupe your shareholders.
I just suggested that our German & Mexican partners might be paying for the installation.
Pit, in one email I read, Bleckman said they are installing those systems in Mexico and Germany now, Germany almost complete and the Mexico installation just started. Huff did define operational as customers on line and using the wireless system versus the installation phase. I wonder if our partners in Germany and Mexico are paying for the installations themselves and GTE's revenues will not begin until actual customers on line?
Not necessarily suing, most are reporting to the SEC, DOJ, State Attorney General, State Bar, etc., that a frivilous lawsuit, without any basis in fact, was brought with the intention to bring down the share price of the company so short sellers could cover at a lower price, and that this lawsuit likely was brought at their request and with their knowledge so that they could begin covering even before the lawsuit was announced.
All, this was just a quick draft and I see some errors, like "choses" should be "chooses" and it should read "there was larger than normal selling volume" not "there was a larger than normal, etc." Please read it carefully, change it, delte or add what you want. It is just a template. It's always good to add your own personal experiences, views, knowledge.
FORM LETTER WITH ADDITIONS - could someone please cut and paste and post a complete list of all possible contacts we could mail our letters to? Thanks.
I am a concerned shareholder in GlobeTel Communications Corp.
9050 Pines Blvd, Suite #110 Pembroke Pines, FL 33024
http://www.globetel.net/index.html I want to make you aware that the law firm of Joseph Gentile at Sarraf Gentile LLP, 485 Seventh Avenue, Suite 1005, New York, New York 10018 (telephone: 212-868-3610; e-mail: joseph@sarrafgentile.com). is attempting to instigate a lawsuit on behalf of disgruntled shareholders that claim to have been damaged as a result of misleading information supplied to Investors by GTE on a business deal with Russian investors.
The suit claims the Russian investors never existed and that the entire deal was a scam. This lawsuit is reckless and without merit and is based upon unfounded accusations contained therein - site of law suit: http://biz.yahoo.com/iw/060428/0125940.html.
This bogus lawsuit has caused the share price of GTE to drop significantly since it was made public and as a result I have been financially damaged. Thus, I am asking for your assistance in investigating these allegations and taking whatever corrective actions you deem necessary against the law firm of Joseph Gentile at Sarraf Gentile LLP on behalf of myself and other agrieved shareholders.
There are many troubling aspects to this lawsuit, not the least of which is the fact that it was made public in after hours of the last trading day before a SEC Regulation SHO deadline was to be imposed in the next trading session (May 1, 2006) which would require brokers'clients to cover all naked short positions. GTE has been on the Regulation SHO list for weeks, and all day Friday, April 28, 2006, before the lawsuit became public, there was a larger than normal selling volume and an unexpected drop in GTE’s share price, indicating that certain short sellers had prior knowledge that this lawsuit was coming.
In this regard, a professed short seller of GTE, Zachary Prensky, who runs an web investing blog titled “Upside Surprise” contacted a GTE shareholder several weeks ago and told that shareholder that a law firm Prensky knew was preparing a lawsuit for shareholder fraud against GTE and was looking for a lead plaintiff. That email has been forwarded to GTE management.
Another extremely troubling aspect is the source for the “facts” alleged in the lawsuit. It appears that the entire evidence for this lawsuit was based on articles written by Seth Jayson, a writer for the Motley Fool, who is currently one of the journalists under investigation by the SEC in a probe regarding whether market sources are using reporters to spread misinformation about publicly traded companies, in attempts to influence stock prices. http://www.post-gazette.com/pg/06088/677765-28.stm
Mr. Jayson has written many articles highly critical of GTE which are biased, full of conjecture and innuendo, and cast a negative spin on GTE through omission, twisting of facts, half-truths, falsehoods, using denigrating terms to describe GTE’s management, products, and ventures, and giving the worst possible interpretation to GTE's business (e.g., repeatedly mocking GTE’s rigid high altitude airship, calling it a “blimp” and suggesting it is a pipe dream when many reputable U.S. firms and the Department of Defense are actively pursuing high altitude airships, including GTE which is building its HAA with the assistance of NASA and the U.S. Air Force, facts Mr. Jayson choses to repeatedly ignore).
The following message (see next paragraph), written by a GTE shareholder describes that shareholder's visit to the law firm of Sarraf & Gentile after the lawsuit was filed, and raises serious questions regarding what Mr. Jayson’s connection to this lawsuit might be, and whether, as with the many derogatory articles he has written about GTE, he has been acting in concert or at the behest of hedge funds or others who have been shorting GTE stock (over 7 million shares currently shorted), short sellers who stood to gain much if they could cover on or before May 1, 2006 at a lower prices. As noted, the share price began falling all day before the lawsuit was announced and plummeted after, in after hours trading. The SEC and the DOJ should investigate the connection between short sellers and this lawsuit, and trace the money via the clearing houses and brokers, to find out who exactly was covering their short positions on Friday, April 28, 2006, based on advance knowledge of the press release announcing this lawsuit at 4:10 PM that day. Included in that list should be the lawyers who brought this suit and Seth Jayson, Zachary Prensky, and friends, relatives, and associates of these individuals.
Shareholder message:
Posted by: nilremerlin
In reply to: None Date:5/1/2006 9:40:35 PM
Post #of 24843
I visited the offices of Sarraf Gentile a little after 6pm today. The place was kind of quiet then, hardly anyone there, and I walked in and found a guy in his office, and asked him if Joseph Gentile was there.
He said "No, he's not here, but I can sign for whatever you're delivering, and..." (I was in my bike messenger garb)
I interrupted him and said I was not there to deliver, and was a shareholder of GTE, and I wanted more information on the lawsuit.
He said "What do you want to know?"
I said "Well, what have you got that hasn't been published? What are you basing your evidence on?"
He said "Well, have you seen the news this morning?"
I said "Yeah, so what? What does that have to do with your case?"
He said "Well, research was done that revealed that Internafta doesn't exist."
I said "Who did this research, and by what means did they discover this"
He said "The research was done by journalists (plural) who came to that conclusion after searching for companies that do business in Russia"
I said "Are you talking about Seth Jayson?"
He said "Yes"
I laughed, and said "Who are the other journalists involved? You do realize that a good deal of what Seth Jayson writes is conjecture, speculation, and assumption, and I would hope that you would have more solid evidence than that to go on"
He said "No other journalists are involved, just Seth"
I said "But you said journalists, plural?"
He said "My mistake, it's just Seth Jayson's research that we're going on. If GlobeTel can prove that Internafta exists, we'll drop the case"
I said "But GlobeTel is the defendant, and it's you that has to do the proving, and in the January 6th 8K, it clearly shows that GlobeTel was requested by InterNafta to keep their contact info confidential (I showed him the copy of the 8K). Would you have GlobeTel betray that confidence in order to prove to you their existence? Wouldn't that be unethical?"
At this point the guy looked real uncomfortable, and said "Is there anything else I can help you with?"
I said "Yes, you're claiming that the April 11th Seth Jayson article states that Seth came to the conclusion that InterNafta doesn't exist, but I don't see that anywhere in that April 11th article? (I showed him a copy of the article).
He said nervously "It may have been in one of his earlier articles. Is there anything else I can help you with?"
I said "Do you have any evidence to back you up that isn't speculation, conjecture, assumption, or another mistake?"
He said "That's all I can tell you"
I said, as I was leaving "Then you'd better drop the case, unless you like to lose...Seth Jayson, LOL!"
And thus concluded my visit to Sarraf Gentile...I'll be back when Gentile is there!
nilremerlin
Based on the above, I request that you look into the conduct of the parties involved in bringing this lawsuit, keeping in mind the flimsy basis for this suit, who stood to gain by bringing it, the fact that Sarraf and Gentile, two recent law-school graduates, appear to be in the habit of bringing frequent class-action lawsuits with little merit, and in a newspaper article describing their search for plaintiffs in a class-action suit against Coors, admit to trolling the internet searching for potential clients.
As noted in a recent "Bob O'Brien's Sanity Check" blog regarding the unethical conduct of clients and lawyers in class-action lawsuits: "What does that do to the suits filed against companies under false pretenses? What about the settlements collected in those suits? What about the ongoing actions? If this guy was acting as a pretense for ambulance chasers to sue, that means that their business model was to pick targets, contrive a case using their pet plaintiff, and then sue, hoping the comapny would settle. . .. If they were doing stuff like that, what are the odds that they also filed suits solely to move stock prices for their hedge und buddies?
I think the odds are very high in this case that criminal acts have been committed under the RICO statutes, securities laws, and state and federal law in bringing this bogus lawsuit with the specific intent to bring down GTE's share price and harm GTE and GTE investors.
Regards,
Sorry, Villas, but you have to be joking. I know Internafta was a real entity and they had a contract with GTE. I read Russian news articles describing Internafta as a corporation formed by Suleiman Kerimov, a Russian billionaire, and member of the Duma (Russian parliament) and owner of Nafta Moscow, formed specifically for this joint wireless venture, and describing a contract with GTE. GTE also had one of the most prestigious law firms in the world working on the contract and stated so many times in very public prs. I called that law firm and they confirmed they were handling it for GTE. GTE also filed the contract with the SEC.
Can you point to one article in the Russian press that claims the contract was a fraud? Have you contacted GTE's "alleged" international law firm and had anyone there tell you such a contract did not exist?
I see Vanguard just upped their # of GTE shares 70% in the last quarter. Do you believe the fund manager was duped and increased his position in a company which engages in fraudulent behavior, and that he didn't bother to investigate that contract and and everything about GTE's business divisions carefully before increasing his investment significantly, especially given the fact that Seth Jayson is constantly calling the Russian deal and everything about GTE into question? Right.
Yes, makes sense - I will add my ideas to it, using it as a base, and post as draft letter, and everyone should add what they want - it's also good to add your own personal experience/thoughts to any form letter.
O.K. Will do. Will try to get it done in the next hour!
Good point - they did not have a lead plaintiff at the time they filed this phony lawsuit.
Also, I would add that Sarraf & Gentile appear to have a history of filing a large number of class action lawsuits of questionable merit, and have admitted in a newspaper article (do internet search of Coors case) to trolling the internet, searching for potential clients.
And, I would ask whomever we send this to, to check into the heavy selling which went on all day prior to this lawsuit coming out at 4:10 PM, and into any relationships between Sarraf or Gentile and hedge funds shorting GTE, and whether either Sarraf or Gentile or any of their friends, relatives, and associates shorted GTE prior to this lawsuit pr.
Excellent work, Design, but I would also attach a copy of Nilremerlin's message re his visit to the law offices of Sarraf & Gentile (it really puts forth the whole lie of this lawsuit and highlights the obviously cozy relationship between Sarraf & Gentile and Seth Jayson, who is already being investigated by the SEC), information about Zach Prensky of Upside Surprise fishing for plaintiffs (as he shorted the stock), and the fact that the phony S & G lawsuit came on the last trading day before Reg Sho directive requiring brokers to get naked shorts to cover by May 1st.
Posted by: nilremerlin
In reply to: None Date:5/1/2006 9:40:35 PM
Post #of 24843
I visited the offices of Sarraf Gentile a little after 6pm today. The place was kind of quiet then, hardly anyone there, and I walked in and found a guy in his office, and asked him if Joseph Gentile was there.
He said "No, he's not here, but I can sign for whatever you're delivering, and..." (I was in my bike messenger garb)
I interrupted him and said I was not there to deliver, and was a shareholder of GTE, and I wanted more information on the lawsuit.
He said "What do you want to know?"
I said "Well, what have you got that hasn't been published? What are you basing your evidence on?"
He said "Well, have you seen the news this morning?"
I said "Yeah, so what? What does that have to do with your case?"
He said "Well, research was done that revealed that Internafta doesn't exist."
I said "Who did this research, and by what means did they discover this"
He said "The research was done by journalists (plural) who came to that conclusion after searching for companies that do business in Russia"
I said "Are you talking about Seth Jayson?"
He said "Yes"
I laughed, and said "Who are the other journalists involved? You do realize that a good deal of what Seth Jayson writes is conjecture, speculation, and assumption, and I would hope that you would have more solid evidence than that to go on"
He said "No other journalists are involved, just Seth"
I said "But you said journalists, plural?"
He said "My mistake, it's just Seth Jayson's research that we're going on. If GlobeTel can prove that Internafta exists, we'll drop the case"
I said "But GlobeTel is the defendant, and it's you that has to do the proving, and in the January 6th 8K, it clearly shows that GlobeTel was requested by InterNafta to keep their contact info confidential (I showed him the copy of the 8K). Would you have GlobeTel betray that confidence in order to prove to you their existence? Wouldn't that be unethical?"
At this point the guy looked real uncomfortable, and said "Is there anything else I can help you with?"
I said "Yes, you're claiming that the April 11th Seth Jayson article states that Seth came to the conclusion that InterNafta doesn't exist, but I don't see that anywhere in that April 11th article? (I showed him a copy of the article).
He said nervously "It may have been in one of his earlier articles. Is there anything else I can help you with?"
I said "Do you have any evidence to back you up that isn't speculation, conjecture, assumption, or another mistake?"
He said "That's all I can tell you"
I said, as I was leaving "Then you'd better drop the case, unless you like to lose...Seth Jayson, LOL!"
And thus concluded my visit to Sarraf Gentile...I'll be back when Gentile is there!
nilremerlin
Pit, what do you make of this msg. from Yahoo board?
Hum, something is cooking. Maybe shorts??
Smell the ^%$* on this board from the short/bashers.
Someone just purchased my call, (800 contracts) for July @ .45 for $7.50. Hum, someone knows something and its not the short/bashers!!