Global Links was raised in a Senate Banking Committee hearing that spring, when Sen.
Risk management software is not always good at figuring out how those global links work.
The media statement has "damaged Global Links' reputation and its ability to raise funds, " the lawsuit claims.
Global Links owns a development in Arizona and office property in Las Vegas.
Global Links is, in fact, a sub-penny stock company and has done several such reverse splits over the last few years.
Two individuals managed to buy more than 110% of Global Links shares in the confusion after the 350-to-1 reverse split occurred.
The DTCC media statement that is the subject of Global Links' defamation suit was first published by the DTCC on Aug. 31.
The DTCC was referring to two Forbes.com stories about Global Links, but it didn't mention Forbes.com by name in its media statement.
The data show suspicious trading in Global Links far earlier and to a far larger degree than any previously released by the SEC.
This prompted a flurry of letters between the DTCC and Global Links, culminating in Global Links' filing of the federal lawsuit late last month.
Questionable trading activity was not lost on Global Links Chief Executive Frank Dobrucki , who told shareholders in March 2005 that he believed there was fraud occurring.
Data released to Patch earlier this month had shown trade fails of 10 million shares starting in mid-April, a time when 4 million shares of Global Links were issued and outstanding.
Global Links has also sued the DTCC for defamation over a line in the media statement that suggested sub-penny stock companies try to artificially raise their stock prices by doing 350-to-1 reverse splits.
Companies like Global Links have claimed that the high degree of trade settlement failures have caused irreparable damage not only to their stocks but also to their ability to carry on as companies.
An SEC spokesman had no comment on the data, which showed Global Links trade fails totaling 27.3 million shares on Feb. 4, coinciding with the first day that Feb. 1 trades should have settled.
"It became very clear that we had no control of the volume or price of our stock in any way, " said Global Links Chief Executive Frank Dobrucki , in a March 15, 2005, letter to shareholders.
But late Tuesday, a Nevada federal court judge canceled a hearing for Wednesday that was to decide on Global Links' request for a temporary restraining order forcing the DTCC to retract a "media statement" that currently appears on its Web site.
New data from the U.S. Securities and Exchange Commission reveals trade settlement fails in early February 2005 that were 27 times greater than the total number of shares Global Links (other-otc: GLLC - news - people ) had issued at the time.
Data obtained under a Freedom of Information Act request by David Patch, a well-known blogger in the movement to eradicate manipulative naked short-selling, showed an astonishingly high degree of trade settlement failures in Global Links shares in the days and weeks following a 350-to-1 reverse split in February 2005.
Primary Global Research links corporate executives and industry insiders with investment managers.
FORBES: The Galleon Net Widens -- Insider Trading or Witch Hunt?
Law firms themselves are going global, through links and cross-border mergers.
The latest generation of Opticom gear does away with infrared in favor of a combination of cellular radio and Global Positioning System links, which can pinpoint a vehicle's location and speed.
It is clear that Russia understands the importance of greater integration with the global economy, including links with the WTO, OECD and the EU and making itself more attractive to both foreign investment and talent.
Main Two Links for the Global Trends 2030: Alternative Worlds report overview and blog post series.
Until recently, the demand for global hotel brands and good air links mainly came from overseas business travellers, mainly Chinese and Europeans, and the business and leisure sector afforded by domestic oil and gas wealth.
Both Qantas -- known as the "Flying Kangaroo" airline -- and BA are partners in the Oneworld Global Alliance, an umbrella which links 10 of the world's carriers, including American Airlines and Cathay Pacific.
The HELP initiative has established a global network of catchments to improve the links between hydrology and the needs of society.
To facilitate links between local, regional and global levels, and harmonizing top-down and bottom-up approaches whilst taking into account social issues.
About 1, 000 American troops are in the southern Philippines training local soldiers to combat Abu Sayyaf rebels, which the Bush administration links to the al-Qaeda global militant network.
All of which makes for a happy mix of old and new, helping Dubai sustain the links with its mercantile past while feeding a global appetite for the region's much-loved traditional fruit.
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