11-29-2007, 01:35 PM
Quote:Bidz.com Inc. Chief Executive David Zinberg late Tuesday denied several allegations in a Monday report by Citron Research, including that the company engages in shill bidding, holds excessive inventory and pays him 30,000 shares each month.
Citron Research _ formerly known as Stock Lemon _ publishes reports online about companies it believes are misleading investors.
In a conference call, the online jewelry auction site operator's CEO called the report "untruthful and negative."
Zinberg also denied that shill bidding occurs on Bidz.com, saying the Culver City, Calif., company has strong policies against it.
He noted that up to 25 percent of the jewelry sold through the site is sold below cost, saying, "If we had shill bidding, we would not have jewelry sold at a loss."...
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