Conspiracy Entertainment Addresses Unauthorized Filing on the Berlin Stock Exchange.Business Editors SANTA MONICA, Calif.--(BUSINESS WIRE)--June 8, 2004 Conspiracy Entertainment Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CPYE CPYE Connecticut Partners for Youth Entrepreneurship CPYE Committee for the Promotion of Youth Exchange Projects (Berlin, Germany) ) announced today it learned that it is one of many U.S. publicly traded companies whose stock is being considered for listing on the Berlin-Bremen Stock Exchange without the Company's prior knowledge, consent or authorization. This morning, the Company has directed its counsel to immediately contact officials at the Berlin-Bremen Stock Exchange to demand the termination of the filing. According to various accounts in the media, the listings appear to be part of an effort by domestic and foreign brokers to circumvent the recent NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). and SEC restrictions against "naked short selling Naked short selling, or naked shorting refers to the practice of selling a stock short without first borrowing the shares or making an "affirmative determination" that the shares can be borrowed. ." 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. is a trading practice whereby investors borrow stock from a broker to sell with the hope that the stock price will decline before they have to return the shares back to cover their position. Naked shorting Naked Shorting The illegal practice of short selling shares that have not been affirmatively determined to exist. Ordinarily, traders must borrow a stock, or determine that it can be borrowed, before they sell it short. involves groups of people working together to manipulate the market by selling fictitious shares of stock in an effort to force a company's share price to go down. By attempting to list the company's common stock on the Berlin-Bremen Stock Exchange, market manipulators may have sought the benefit of an "arbitrage" loophole that none of the present regulations are designed to close. CPYE intends to follow the lead of other companies listed on the Berlin-Bremen Stock Exchange, all without prior authorization prior authorization, n See predetermination. prior authorization Health insurance A cost containment measure that provides full payment of health benefits only if the hospitalization or medical treatment has been , in demanding both discontinuation of the application to be listed and evidence of the individuals and firms that were ultimately behind the unauthorized listing application. Investors interested in purchasing shares of CPYE should only purchase their shares from the NASD Over The Counter Bulletin Board (OTCBB) under the symbol, CPYE, as shares traded on the Berlin-Bremen Stock Exchange or any other foreign exchange are not currently recognized by Conspiracy Entertainment. About Conspiracy Entertainment Corporation Based in Santa Monica, CA, Conspiracy Entertainment Corporation is a developer, publisher and marketer of entertainment software in North America and Western Europe. The company develops and licenses properties from several sources, including global entertainment and media companies, and publishes software for DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. media, wireless devices, personal computers and videogame consoles including those manufactured by Nintendo, Sony Computer Entertainment, and Microsoft Corporation. For more information, please visit our website at www.conspiracygames.com. The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a "safe harbour" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements relating to results of operations and financial condition and business development activities, as well as capital spending and financial sources. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Conspiracy Entertainment. For more information regarding these risks and uncertainties, review Conspiracy Entertainment filings with the Securities and Exchange Commission. |
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