Asensio & Co.: Pro-Investor Commentary On Andersen Jury Verdict Available.Business Editors NEW YORK--(BUSINESS WIRE)--June 10, 2002 Asensio & Company, Inc. will make its President available for comment on the issue of an auditor's role in protecting investors, and securities market regulation in general, shortly after the Andersen verdict is announced. Interviews can be arranged by calling Lorena at (212) 702-8803. Asensio & Company, Inc. recently published a report outlining the existing accounting industry regulations governing a public accountant's duties to investors in cases of fraudulent securities transactions. While these highly specific rules exist, they are routinely ignored and have not been incorporated into securities law that protects investors. The report is available upon request at info@asensio.com. Asensio & Company, Inc. has provided commentary on investor protection issues on television business shows including ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. World News Tonight with Peter Jennings, Lou Dobbs Moneyline, The O'Reilly Factor, CNN CNN or Cable News Network Subsidiary company of Turner Broadcasting Systems. It was created by Ted Turner in 1980 to present 24-hour live news broadcasts, using satellites to transmit reports from news bureaus around the world. , CNNfn, CNBC CNBC Center for the Neural Basis of Cognition (artificial intelligence) CNBC Consumer News and Business Channel CNBC Congress of National Black Churches, Inc. and local news broadcasts. Asensio & Company, Inc. has also commented on National Public Radio and nationally syndicated CBS radio, Radio America, Talk America, WOR Radio Network The WOR Radio Network is a slate of nationally syndicated radio programming produced and distributed by flagship radio station WOR in New York City. The programming is primarily general interest variety talk. Schedule The WOR Radio Network operates two separate feeds. and USA Radio Network The USA Radio Network is a syndicator of talk radio programming established in 1985. It provides programming to approximately 1,100 radio stations around the world, plus the American Forces Network and XM Satellite Radio, and can be heard on the internet from USA Radio's website. as well as various local broadcasts. Asensio & Company, Inc. has been the subject of major news stories in Business Week, Fortune, Forbes, Money and Worth magazines as well as The New York Times, The New York Times, The Morning daily newspaper, long the U.S. newspaper of record. From its establishment in 1851 it has aimed to avoid sensationalism and to appeal to cultured, intellectual readers. Wall Street Journal, Barron's, The Miami Herald and The Los Angeles Times Los Angeles Times Morning daily newspaper. Established in 1881, it was purchased and incorporated in 1884 by Harrison Gray Otis (1837–1917) under The Times-Mirror Co. (the hyphen was later dropped from the name). . In total, Asensio & Company, Inc. has been prominently mentioned in well-over 200 news articles and other media related to investor protection issues. John Wiley & Sons, Inc. published a book about Asensio & Company's short selling Short Selling The selling of a security that the seller does not own, or any sale that is completed by the delivery of a security borrowed by the seller. Short sellers assume that they will be able to buy the stock at a lower amount than the price at which they sold short. titled "Sold Short: Uncovering Deception in the Markets" that can be ordered on the Internet at http://www.asensio.com or http://www.amazon.com. Asensio & Company, Inc. is one of the nation's leaders in analyzing and publishing reports on companies engaged anti-investor, anti-free-enterprise conduct. In 1996 Asensio & Company, Inc. invented the practice of identifying certain specific companies that were being promoted using baseless positive projections and then publicly advocating investor action and media attention to counter those bogus stock promotions. The practice, which was first reported in a Business Week cover story and a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Times business section front page above-the-bold story almost six years ago, has become known as "hostile adversarial" short selling. Since 1996 Asensio & Company, Inc. has been involved with 27 "hostile adversarial" short selling transactions. 19 of these companies' stocks fell by over 80% after they failed to meet expectations. Some of these cases are chronicled in a book titled "Sold Short: Uncovering Deception in the Markets" authored by Mr. Asensio and on Asensio & Company, Inc.'s Internet site located at www.asensio.com. The cases reveal dozens of questionable anti-investor transactions by Wall Street's most prestigious institutions, including leaders of a National Stock Exchange caught in stock dealings that later led to Federal criminal convictions, and accountants who aided a bankrupt penny-stock company cheat the State of New Jersey of hundreds of millions. Asensio & Company, Inc. publishes research on securities it believes are overvalued Overvalued A stock whose current price is not justified by the earnings outlook or price/earnings (P/E) ratio and thus, expected to drop in price. Overvaluation may result from an emotional buying spurt, which inflates the market price of the stock or from a deterioration in a . A complete documented history of Asensio's published work with short-selling transactions, and the firm's definition of gross overvaluation o·ver·val·ue tr.v. o·ver·val·ued, o·ver·val·u·ing, o·ver·val·ues To assign too high a value to: overvalued the painting. , is available on the Internet at http://www.asensio.com. Asensio Brokerage Services, Inc. is actively engaged in short selling. Asensio Brokerage Services, Inc. is a broker-dealer registered with the SEC and is a member of the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). . The firm predominantly advises private institutional clients. Short selling involves a risk not associated with the purchase of stock including, but not only limited to, unlimited loss and stock borrowing risks. Additional information is available upon request. Copyright 2002 by Asensio & Company, Inc. All rights reserved. This report should not be construed as an offer to sell or solicitation of an offer to buy any securities. Opinions expressed are subject to change without notice. This report has been prepared from original sources and data which we believe to be reliable but accuracy is not guaranteed. This research report was prepared by Asensio & Company, Inc. whose stockholders, officers and employees may from time to time acquire, hold or sell a position in the securities mentioned herein. |
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