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| 2000
News and Press Releases |
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HEADLINE ARCHIVED:
U.S. Emulex "bogus news" suit names Bloomberg, Internet Wire
New York. September 1, 2000
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Nasdaq halted trading of Emulex stock for a time on August 25, 2000, but
only after values of the company's shares had plummeted to 43 usd from
113, wiping out some 2.2 billion usd in market capitalisation. On
Thursday, August 31st, a 23 year-old community college student and
former Internet Wire employee was arrested in Los Angeles and charged
with crafting the false news release. Officials said Mark Simeon Jakob
earned $241,000.00 from the fraud.
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