Baltimore complains to FSA about stalking shareholder
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Posted in Financial News, 26th April 2004 09:22 GMT
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Former dotcom darling Baltimore Technologies has complained to the Financial Services Authority (FSA) about Acquisitor Holdings, its largest shareholder.
Baltimore claims the group pushed down its share price by making negative comments about the company and then snapped up the cheaper shares.
According to Baltimore, Acquisitor Holdings made misleading statements between 22 and 30 March. These comments, the complaint alleges, pushed down the company share price. On March 30 Acquisitor bought 400,000 Baltimore shares.
In response, Acquisitor has threatened to sue Baltimore for defamation. Last month Acquisitor led attempts to oust the Baltimore board.
Baltimore Technology used to be a security software company. It is now a cash shell with approx. £25m in the bank and its board wants to use the money to build a green energy company. Acquisitor wants the money to be redistributed to shareholders. ®
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