We have had the technology to do digitally signed authentication for many
years and yet still companies and people do not sign their email and look
what happens, and I mean REAL signatures not just what the Congress thinks
is digitally signed material. Dave
Shares of the Emulex Corporation plunged more than 60 percent Friday
following the distribution of a bogus press release about the computer
network equipment maker's earnings. Trading in the stock was halted for
about three hours after the hoax started showing up in financial news
reports. The hoax wiped more than $2 billion off the company's stock market
value, leaving it around $2 billion.
Emulex's shares finally resumed trading at 1:30 p.m. Eastern time and
recaptured most of their loss. The stock was lately trading down 6, or 5.3
percent, at 107 1/16 after earlier plunging as low as 43.
The fake press release, which appeared on the Internet around the time of
the market's opening bell, claimed that Emulex would restate it fiscal
fourth-quarter earnings as a loss. There were also headlines that the
Securities and Exchange Commission was investigating accounting
irregularities at the company and that Emulex's president and chief
executive, Paul Folino, was stepping down.
[Source: http://www.nytimes.com/yr/mo/day/news/financial/25tsc-emulex.html
From Dave Farber's IP list.
See also http://cnnfn.cnn.com/2000/08/25/companies/emulex/ . PGN] [Dave Farber ]
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