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January 4, 1987

INVESTIGATION INTO POSSIBLE STOCK MANIPULATION REQUESTED BY AT&E

By CBR Staff Writer

AT&E Corp, the telecommunications company in San Francisco, has asked the National Association of Securities Dealers’ market surveillance division conduct an investigation of possible stock manipulation by people selling its shares short: it seems that, despite several fundamental developments in the company’s efforts to hook telephones to wrist-watches – including the signing of long-term contracts with Hattori Seiko watch company of Japan, Plessey Semiconductors of the UK and AP Industries of the US – the company’s stock just keeps falling in value; over the last quarter, the price of the stock has fallen from $19 to $10 a share, while short activity has increased from about 50,000 to 400,000 over two months; it’s not paranoia if they really are out to get you…

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