This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

Aly Nazerali, the plaintiff in a libel trial against the Deep Capture website, was cross-examined on Friday about his role in what defence lawyer Roger McConchie dubbed the "obvious pump" of Imagis Technologies, a lively facial-recognition promotion from the early 2000s. To Mr. Nazerali's repeated denials, Mr. McConchie claimed that the go-private offer Imagis received from Treyton Thomas's Pembridge Group was clearly part of a pump-and-dump and that Mr. Nazerali knew "from day one" that Mr. Thomas was running a scam.

By way of background, Mr. Nazerali had previously testified that Imagis received a go-private offer from Pembridge on March 6, 2002. (The offer is of interest because on the day it was announced, Imagis's shares touched a 52-week high of $5.66, up $1.76 over the previous day.) All this came about shortly after Imagis hired Pembridge as a financial adviser on Jan. 3, 2002, Mr. Nazerali had said.

Mr. Nazerali's testimony is part of a lawsuit he is pursuing against Deep Capture, Patrick Byrne, Mark Mitchell and others over 21 chapters that appeared on-line in 2011. He complains that the chapters falsely accused him of, among other things, running a pump-and-dump of Imagis.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS