L,

The situation I was referring to was misleading public statements about a company's fortunes from a CEO. In the case of the company I am thinking of, the CEO made many public statements about deals which were about to close, etcetera. Some people on the bulletin boards even met with him, and he would tell them about all of these things which were agreed to and just had to be announced. He had a meeting with shareholders, just  as Dr. Nash recently had, where he gave a long list of things that were going to happen. Many of these public disclosures were in the form of TSE-approved press releases.

When the bottom fell out, it turned out that he had been lying all along. Maybe he hoped these things would happen, but they were not even close.

Interestingly, in that case, there was a detractor on SH that everyone loved to hate because he kept saying that the whole operation was a big smokescreen. Even though he was an ex-employee, everyone dismissed him. They outed him, and reported him to the CEO, who said they were watching him, and were considering suing.

Turned out he was right and we were wrong. And the securities commission did nothing about the fraud.

Why haven't I mentioned the company name? Only because I don't want to start a thread about another company on this LBE forum.

Bluenoser