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Due diligence and LexisNexis to the rescue

Incredibly, The Inquirer has picked up another outlandish rumor that appears borderline fraudulent.  Cher Price is the author of an article on the site claiming Intel could bid $23 per share in a separate takeover bid of ATYT, or ATI Technologies for us technical folks.  The rumor is partially visible on Fidelity's AMD portfolio site here, claiming the following in its entirety:

Jul 25, 2006 (JAGfn.com via COMTEX) -- (ATYT) (INTC) (AMD) Rumor that ATI TECHNOLOGIES INC (ATYT) will get a $23 bid from (INTC) over current (AMD) bid.

JagNotes, for those who do not remember the dot-bomb era as well as I do, was a horrible example of what could go wrong with a dot com site.  The site spun off JagFN.com, which was to be the network's live broadcast website with news commentary and analysis.  Unfortunately, JagFN.com has been defunct for at least four years now, and JagNotes became a little more than a link aggregator during that time as well. JagFN.com and JagFN.tv are now a CPC link farms.

Yet that has not stopped whoever is operating JagFN.com to continue to submit news wires to feeds.  The owners of JagFN.com, Popular Enterprises LLC, are also the proud owners of link farms located at web---sites.com and clickclickonline.com.  Our friends at The Register have a few choice words Popular Enterprises.

JagFN.com has made a number of dubious claims over the past few months:

July 13, 2006: Johnson & Johnson will make a $35 bid for Bristol Myers Squibb
July 5, 2006: Microsoft will make a bid for RealNetworks
November 10, 2005:  Qualcomm will make a $30 bid for Interdigital
June 23, 2005: Patterson-UTI Energy will make a $12 bid for Grey Wolf

For some people who actually track some of these companies, not only are these rumors unsubstantiated, they are downright asinine.  Searching the Yahoo Financial forums for JagFN alone yields dozens of claims (none of which have been correct since 2002) of takeover bids -- the new owners of JagFN seem to only publish rumors with regard to takeovers.  JagFN used to report these sorts of stories when it was a legitimate news outlet, but over the last two years it seems there is a clear indication that the JagFN "feed" is nothing more than a very small entity attempting to stir up headlines for its own purposes.

DailyTech attempted to contact JagNotes for any comment on the relation between JagNotes and the JagFN feeds, but we did not receive a reply from the company.  The JagNotes front page has the ATI rumor listed, though we were not able to read the full article without paying the company $100, which we declined. 





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