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On February 27, 2001 Winstar Communications, Inc. announced strong fourth quarter results. Winstar’s highly favorable announcement, and unanimous congratulatory announcements by the seven major Wall Street firms that follow Winstar, caused Winstar’s stock to rise 18.5% to an intra-day high of $14 per share giving Winstar’s equity a $1.3 billion market capitalization. |
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Solv-Ex Corporation had been one of U.S. history's most persistent and successful fraudulent stock schemes when Asensio & Company, Inc. focused its research and investigative capacity on its managers and their alleged business plans. During its 17 years of activity from 1980 to 1997 Solv-Ex raised over $139 million through a sophisticated combination of unregistered offerings and fraudulent claims. At its high Solv-Ex had a market value of over $440 Million. It also had enough cash to hire lawyers and private investigators in an attempt to intimidate its detractors and finance a public relations campaign that included ads in The Wall Street Journal promoting its corporate image. Asensio & Company was the target of most of Solv-Ex's attempts to discredit its opponents. In total Asensio & Company published 27 Solv-Ex research reports detailing management's fraudulent activities. On July 14, 1997 Solv-Ex's stock was halted for 65 days. On September 17, 1997 Solv-Ex was delisted. |
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