Friday, October 17, 2003


Silicon Valley Biz Ink :: The voice of the valley economy  

Silicon Valley Biz Ink :: The voice of the valley economy: "Optima Technology Calls for SEC investigation and Government Oversight of VeriSign-Network Solutions
< back

IRVINE, Calif., Oct. 17 /PRNewswire/ -- Optima Technology Corporation
recently filed a complaint with the Department of Justice and SEC with regards
to Network Solutions, now owned by VeriSign (Nasdaq: VRSN) alleging that
Network Solutions gave away its domain name without its permission.
'Something needs to be done, it's quite clear that VeriSign is not going to
take action to regulate their business model. Regardless of the fact that I
am not fond of government oversight, there comes a time when it is necessary
to call for government oversight. My company has formally requested that the
Department of Justice and SEC launch a full investigation into this company's
business practices. I am willing to bet they are no better than those of the
late ENRON. With regards to this problem, our attorneys were recently
contacted by the Federal Bureau of Investigation; we are cooperating fully in
this matter with the FBI,' said Barry Eisler, Optima's president.
Mr. Eisler goes on to add: 'How long are companies going to put up with
their domains being stolen, right now it's so easy to steal a domain name from
VeriSign. If the proper safeguards were in place, this could not have
happened. But because VeriSign had a choice and chose to keep higher profits
verses having the proper safeguards in place; my company and others like the
recent case of www. sex. com, who like us lost millions of dollars in revenue,
all caused by a decision the board of directors made at VeriSign."

If I were a stockholder of VeriSign stock...

Comments: Post a Comment

This page is powered by Blogger. Isn't yours?