August 31, 2000

Emulex hoax suspect in custody

Author: JT Smith

Federal law enforcement authorities on Thursday arrested a suspect in the stock manipulation case of technology company Emulex, which saw its stock plunge more than 50 percent last week as investors reacted to a fake news announcement. "We do have someone in custody in the Emulex case," said Laura Bosley, a spokeswoman for the Los Angeles office of the FBI. Bosley would describe the suspect only as being male, reported CNet. More from ZDNet: The man arrested Thursday for staging the hoax that sent stock of technology company Emulex reeling last week was a former employee of Internet Wire Inc., the press release company through which the damaging hoax report was disseminated, officials said Thursday.

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