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May 31, 1999

Net watch

How IROs manage the freedom that technology provides

Ah, for the days of blissful ignorance when the unruly masses on the web could be ignored. Those days are over. The posting of a false announcement on the internet in April about a corporate takeover sent Pairgain Technologies' stock up 30 percent before the rumor was debunked. Gary David Hoke, a Pairgain engineer, was charged with securities fraud for posting the fake report, which he designed to look like the Bloomberg News web site. He then placed a notice on a message board at Yahoo –

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