Looks like PDAR and about 60 other trying to stop it.
Trezac Exits DTC, Presidential Air Will Sue
February 26, 2003 (financialwire.net via COMTEX) -- ((FinancialWire) ((FinancialWire) Add Presidential Air Corp. (OTCBB: PDAR) to the list of almost five dozen companies now taking action in one form or another against naked short selling, and add Marshall Shichtman, Esq., of Marshall Shichtman and Associates, Hicksville, NY, as an attorney making a name for himself after extracting his client, Trezac Corp. (OTCBB: TRZC) from a reluctant Depository Trust Corp.
Presidential Air said its attorneys, Jenkins & Gilchrist Parker Chapin LLP, will be filing a "lawsuit against certain broker dealer firms for violations of fair-trading practices, share price manipulation, negligence and/or fraud, surrounding the practice of illegal naked shorting for profit and gain."
Shichtman acknowledged in an interview that despite the DTC's statements that companies will no longer be able to exit, he was able to successfully remove Trezac. He said that in addition to the necessary legal arguments, the extraction involved "finding a middle ground to protect both the market participant as well as the market issuers." He said there is no cookie-cutter approach.
The complete list of the 60 companies now associated on one side or another of the naked short seller controversy includes A.G. Edwards, Inc. (NYSE: AGE), Federal Agricultural Mortgage Corp. "Farmer Mac" (NYSE: AGM), Allied Capital (NYSE: ALD), American Motorcycle (OTC: AMCYV), American International Industries (OTCBB: AMIN), Ameri-Dream (OTCBB: AMDR), Bluebook International (OTCBB: BBIC), Blue Industries (OTCBB: BLIIV), Bentley Communications (OTCBB: BTLY), Biocurex (OTCBB: BOCX), Critical Home Care (OTCBB: CCLH), Composite Holdings (OTC: COHIA), Edgetech Services (OTCBB: EDGH), Endovasc Ltd. (OTCBB: ENVC), Enviro-Energy Corporation (OTCBB: ENGY), Environmental Products & Technologies (OTC: EPTC), FreeStar Technologies (OTCBB: FSTI), GeneMax Corp. (OTCBB: GMXX), Global Path (OTCBB: GBPI), Goldman, Sachs & Co. (NYSE: GS), Group Management (OTCBB: GPMT), Hop-On (OTC: HPON), H-Quotient, Inc., (OTCBB: HQNT), International Biochem (OTCBB: IBCL), Intergold Corp. (OTCBB: IGCO), InternetStudios, Inc. (OTCBB: ISTO), ITIS Holdings (OTCBB: ITHH), Jag Media Holdings (OTCBB: JGMHA), Knight Securities, LP (NASDAQ: NITE), Lair Holdings (OTCBB: LAIR), MBIA (NYSE: MBI), MetaSource Group, Inc. (OTCBB: MTSR), M. H. Myerson & Co., Inc. (NASDAQ: MHMY), Midastrade.com (OTC: MIDS), Make Your Move (OTCBB: MKMV), MSM Jewelry Corp. (OTC: MSMJ), Nutra Pharmaceutical (OTCBB: NPHC), Nutek (OTCBB: NUTK), Pitts & Spitts (OTCBB: PSPP), Sales OnLine Direct (OTCBB: PAID), Pacel Corp. (OTCBB: PCEL), Presidential Air Corp. (OTCBB: PDAR), PayStar Corporation (OTCBB: PYST), Petrogen Corp. (OTCBB: PTGC), PrimeHoldings.com, Inc. (OTC: PRIM), Reed Holdings (OTC: RDHC), Sionix Corp. (OTCBB: SINX), Soundcomm Technologies (OTC: STEH), Sports Resorts International (NASDAQ: SPRI), Technology Logistics (OTC: TLOS), Ten Stix, Inc. (OTCBB: TNTI), Tidelands Oil (OTCBB: TIDE), Toronto-Dominion (NYSE: TD), Trezac Corp. (OTCBB: TRZC), US West Homes (OTCBB: USWH), Vega Atlantic (OTCBB: VATL), vFinance, Inc. (OTCBB: VFIN), Vtex Energy (OTCBB: VXEN) and Wizzard Software (OTCBB: WIZD).and WorldTradeShow.com (OTC: WTSW).
Clickable links for FinancialWire news are at www.financialwire.net. For FinancialWire audio news, click on partner ON24 at www.on24news.com
URL: www.financialwire.net
(C) 2003 financialwire.net, Inc. All rights reserved.
-0-
AI
