Robert Andrew Hainey and Internet Marketing Solutions

Litigation Release No. 17570 / June 17, 2002

Securities and Exchange Commission v. Robert Andrew Hainey and Internet Marketing Solutions, Civil Action No. 02 MS 261 (June 13, 2002)

On June 13, 2002, the Commission filed an application with the United States District Court for the District of Columbia for an order to enforce investigative subpoenas served on Robert Andrew Hainey and Internet Marketing Solutions. The subpoenas sought documents and testimony from Hainey and documents from Internet Marketing Solutions regarding, among other things, potentially misleading disclosures on their website, stocktopics.com, and in their e-mail spams entitled "Wall Street Alert."

The Commission's application alleges that Hainey and Internet Marketing Solutions have not fully complied with the subpoenas issued by the Commission. In its application, the Commission argues, among other things, that these parties have no valid justification for their failure to comply. A hearing on the Commission's application has not yet been scheduled