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Stock Watch: Report of Possible SEC Action Sends Opus360 Lower

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Stock Watch: Report of Possible SEC Action Sends Opus360 Lower

By Nora Macaluso
E-Commerce Times
Part of the ECT News Network
04/12/00 12:00 AM PT


Opus360 fell 3 3/13 to 8 1/2 Tuesday, after the Wall Street Journal's Heard on the Street column said the B2B e-commerce company might face a Securities and Exchange Commission enforcement action.

The Journal said the company, which matches high-tech workers with employers, sent "inappropriately hyped e-mails" about the value of potential stock options to employees ahead of its initial public offering.

The New York-based Opus360 completed its IPO Friday, when it sold 7.7 million common shares at $10 each. The stock ended its first trading day at 12 1/2.

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