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  Press release about Shearson's Press Release
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274.  Mrss  
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 More options May 19, 1:31 pm
From: Mrss <hardi...@gmail.com>
Date: Tue, 19 May 2009 10:31:23 -0700 (PDT)
Local: Tues, May 19 2009 1:31 pm
Subject: Press release about Shearson's Press Release
Since their press release opened this can of worms, I decided it was
fair and reasonable to issue a press release on our behalf.  It went
to four major news outlets today.  We'll see if anyone picks it up:

---

OFFICIAL ANNOUNCEMENT OF  EMERGENCE FROM BANKRUPTCY FUELS SALE OF
DELISTED STOCK

May 19, 2009

When Shearson Financial SHSN issued an upbeat press release on
Thursday May 7, 2009, stating that they were emerging from bankruptcy:
 http://www.reuters.com/article/pressRelease/idUS230522+07-May-2009+PR...
news spread quickly over the worldwide web, and by the close of the
market on Friday, May 8th, many investors who were poised for such an
opportunity had bought in.

What Shearson neglected to state in their Thursday afternoon media
splash, was the fact that shares of SHSNQ, which began trading rapidly
after they issued the release, had no value.  An aggressive internet
search turned up their Form 8K from March 12, 2009, stated under Class
7, that under their reorganization, new stock would be reissued and
all holders of SHSN stock would receive nothing.

On Tuesday, May 12, 2009, a little more than two full business days
after Shearson's optimistic press release appeared in financial news
sources and blogs, Shearson Stock was delisted and investors were
wiped out.  By the end of the week, some online traders saw it
reappear at a fraction of its sale price under CUSIP number 82088H204.

On May 20th, Shearson plans to reissue new stock, but according to a
representative, they have made no provisions to convert shares held
under the CUSIP number to their new stock symbol.

When asked about the timing of their press release, Shearson said only
that the trading of delisted stock was an act of negligence on the
part of the brokers and investors.

Numerous complaints about this incident have been filed with the SEC,
and but the Commission is not  authorized to disclose whether or not
they plan to hold an investigaton.

SEC contact: Bonnie 1-800-732-0330   Shearson Contact:
Harry 415-380-9040 
Shearson  bankruptcy lawyer: Gordon & Silver attorney Gregory Garman
702-796-5555  ggar...@gordonsilver.com


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  Re: shsnq
273.  Mrss  
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 More options May 19, 1:46 am
From: Mrss <hardi...@gmail.com>
Date: Mon, 18 May 2009 22:46:14 -0700 (PDT)
Local: Tues, May 19 2009 1:46 am
Subject: Re: shsnq
I just had an idea!  Let's fight fire with fire!  Shearson started
this debacle by issuing a press release.  I'm going to get a press
release out as well!

On May 18, 3:37 pm, hardi...@gmail.com wrote:


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  Re: I sold SHSHNQ shares on Monday and the settlement date is this coming Thursday
272.  Mrss  
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 More options May 18, 8:19 pm
From: Mrss <hardi...@gmail.com>
Date: Mon, 18 May 2009 17:19:55 -0700 (PDT)
Local: Mon, May 18 2009 8:19 pm
Subject: Re: I sold SHSHNQ shares on Monday and the settlement date is this coming Thursday
It looks like we're all screwed.  The best we can do is file
complaints with the SEC and put pressure on Shearson by calling and
bugging them.  They should convert our stock upon reissue to be fair -
if they won't, I feel they deliberately manipulated things.

On May 12, 6:16 pm, aamerchoud...@gmail.com wrote:


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  Re: shsnq
271.  hardi...@gmail.com  
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 More options May 18, 4:37 pm
From: hardi...@gmail.com
Date: Mon, 18 May 2009 13:37:34 -0700 (PDT)
Local: Mon, May 18 2009 4:37 pm
Subject: Re: shsnq
I believe that there is complete truth to it becoming a new symbol.
BUT - those of us who bought stock under the old symbol will get
nothing.

On May 17, 9:22 am, nascar...@gmail.com wrote:


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  shsnq
270.  nascar...@gmail.com  
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 More options May 17, 10:22 am
From: nascar...@gmail.com
Date: Sun, 17 May 2009 07:22:49 -0700 (PDT)
Local: Sun, May 17 2009 10:22 am
Subject: shsnq
how much truth is there to this becoming a new sym. on may 20

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  Re: Shearson Financial Network, Inc. Rip Off
269.  Brookwolf  
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 More options May 16, 11:59 am
From: Brookwolf <brookw...@gmail.com>
Date: Sat, 16 May 2009 08:59:10 -0700 (PDT)
Local: Sat, May 16 2009 11:59 am
Subject: Re: Shearson Financial Network, Inc. Rip Off
I will call Harry and Bonnie on Monday. I will also talk to my son
this weekend about a blanket suit --Sue everyone --The SEC -- Shearson
Financial Networks, Inc.-- Commercial news postings -- anyone and
everyone connected with or remotely connected. WE NEED TO SHAKE THE
TREE AND SEE WHAT FALLS OUT. Let us also send the Presidents web page
a account of this and ask for some sweeping changes to this type of
fraud. I'm tired of being ripped off aren't u??

On May 15, 11:33 am, brad...@gmail.com wrote:


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  Re: Stock conversion
268.  haroldsu...@gmail.com  
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 More options May 15, 2:13 pm
From: haroldsu...@gmail.com
Date: Fri, 15 May 2009 11:13:37 -0700 (PDT)
Local: Fri, May 15 2009 2:13 pm
Subject: Re: Stock conversion
I bought some shares on 10May and it shows X in front of the symbol;
so it is SHSNQX now.. it still has the same value and shows me my
balance and everything.. Does anyone know if X means it has been
cancelled or would it be converted and I would be able to trade on
5/20?.. thanks.

On May 14, 8:22 am, jiri.zmat...@yahoo.com wrote:


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  Re: Shearson Financial Network, Inc. Rip Off
267.  brad...@gmail.com  
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 More options May 15, 11:33 am
From: brad...@gmail.com
Date: Fri, 15 May 2009 08:33:18 -0700 (PDT)
Local: Fri, May 15 2009 11:33 am
Subject: Re: Shearson Financial Network, Inc. Rip Off
Call Bonnie at the SEC! She said they're looking into it. We should
not have been able to trade stocks after they were cancelled on May
7th.  My question is where did my money go?  The interm-CEO at
Shearson states they may no profit of recent transactions.  Scottrade
thinks he's lying or withholding info.
Call them both!
Oh...and the "conversion" of our shares thing seems unlikely as per
Bonnie. That was a suggestion from a shareholder who blogged here but
not common practice according to the SEC.

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Messages 1 - 15 of 274       Older »

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