|Sept. 1, 2000
8:00 AM ET.
Alert No. 11.
News from the Web
On the Hill
Tech Law Journal is a free access online publication that
provides news, records, and analysis of legislation, litigation, and
regulation affecting the computer and Internet industry.
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P.O. Box 15186, Washington DC, 20003.
Copyright 1998 - 2000 David Carney, dba Tech Law Journal. All rights
8/31. The FCC amended its rules
to allow frequency hopping spread spectrum systems in the 2.4 GHz band.
The goal is to allow wider bandwidths so that Internet devices will
operate at higher data speeds, thereby enabling the development of
new and improved products such as wireless computer local area
networks and wireless cable modems. (ET Docket No. 99-231.) See, release
[MS Word] and First
Report and Order [PDF].
8/31. The SEC filed a
complaint in U.S. District Court (C.D.Cal.) against Mark Jakob
alleging that he perpetrated the Emulex
Internet hoax on Aug. 25. The complaint alleges that Jakob sent
a fraudulent press release to the Internet Wire regarding Emulex,
and traded in anticipation of resulting stock price changes. The
scheme caused the share price of Emulex, a Southern California
high-tech company, to temporarily loose $2.2 Billion in market
value. The complaint alleges violation of the antifraud provisions
of Section 17(a) of the Securities Act of 1933 and Section 10(b) of
the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. See, SEC release
release. In addition, the FBI arrested Jakob.
8/31. A jury in the U.S. District Court, EDNY,
returned a verdict against Computer
Associates (CA) in a shareholder case arising in 1991. The jury
found that CA gave differing prices to shareholders when it
purchased Online Software International, in violation of the best price
8/31. The Census Bureau
estimated that U.S. retail e-commerce sales for the 2nd
quarter of 2000 was $5.518 Billion, a 5.3% increase from the 1st
quarter. See, release
by Commerce Sec. Norman Mineta.
8/31. IMUnified, a coalition
of companies which provide instant messaging, announced the
completion of technical specifications that will enable functional
interoperability among its members' instant messaging services.
IMUnified includes AT&T, Excite@Home, iCAST, the MSN, Odigo,
Phone.com, Prodigy, Tribal Voice and Yahoo! See, MSFT
8/24. The Harrisonburg Police Department (Virginia) and the RIAA
Anti-Piracy Unit, executed a criminal search and seizure warrant at
Town and Campus Records in Harrisonburg, seizing over 568 alleged
bootleg sound recordings, a majority of which were on CD-Rs.
Editor's Note: This column includes all News Briefs added to
Tech Law Journal since the last Daily E-Mail Alert. The dates
indicate when the event occurred, not the date of posting to Tech
for Patent Infringement, Intel v. Broadcom, U.S. District
Court (Del.). (HTML, TLJ)
8/30. DOJ pleadings filed in the U.S. District Court (DC) regarding
the consent agreement for the wireless joint venture of SBC and
BellSouth. (All documents are in HTML in the DOJ web site.)
|Quote of the Day
"This kind of electronic terrorism cannot be tolerated. We are
very gratified by the swift action taken by the FBI, the U.S.
Attorney's Office and the Securities and Exchange Commission ... The
matter received immediate and focused attention from both law
enforcement agencies and multiple securities' exchanges. The quick
results from this cooperative effort demonstrate to others
contemplating a similar hoax that the outcome to be expected is
immediate apprehension and prosecution." Paul Folino, President
and CEO of Emulex.