MIAMI, Fla., March 19, 2003 (PRIMEZONE) -- Our-Street.com today filed complaints against Epixtar Corp. (OTCBB:EPXR) with the FTC and the SEC on behalf of consumers nationwide and shareholders of the company. The complaints alleges violations of Section 5(a) of the FTC Act, 15 U.S.C. Section 45(a), that prohibits unfair or deceptive acts and practices in or affecting commerce and Section 10(b)-5 and Section 13(a) of the Exchange Act. The complete text of the complaints can be read at www.our-street.com.
The complaints allege that according to actions by authorities in Missouri and Iowa and in numerous complaints posted on the internet, the company has participated in a practice known as "cramming" or billing victims through local telephone companies for services which the victim was told was free or rejected. The complaint further alleges that in recent SEC filings the company failed to disclose these legal actions and that income generated through this practice and reported in SEC filings gives investors an incomplete perception of the company's financial status.
Our-Street.com is an internet-based public company watchdog that researches companies and files and publishes reports and complaints with various regulatory agencies.