Business Services Industry
Dallas-Based Lender FirstPlus Seeks SEC Probe into Possible Internet Fraud.
Knight Ridder/Tribune Business News, September, 1998 by Power, Stephen
Knight Ridder/Tribune Business News
Sep. 15--Dallas-based lender FirstPlus Financial Group Inc. said Monday it has asked federal regulators to investigate a trader whom it says has used the Internet to spread "false and misleading information" about the company.
FirstPlus, which has seen its stock price fall more than 65 percent in the past three months, did not identify the trader or say what type of information had been spread. The company described the alleged perpetrator in a statement only as "an individual connected with an investment fund that, together with its affiliates, is a trader of the company's stock."
FirstPlus' chairman and chief executive Daniel T. Phillips could not be reached for comment Monday. The company said in a...
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