Youbet stock in free fall
Youbet stock closed at $2.00 yesterday and is currently trading at $1.54.
this seems to be why -
Youbet.com disclosed in 8-K after the close yesterday, that the U.S. District Court has issued and served a search warrant on the co's headquarters (UBET) 2.00 : UBET is trading down in pre-market activity, following an 8-K released yesterday after the close, stating that on Oct 4, 2007, a search warrant was issued and served by the U.S. District Court for the Central District of California on the co headquarters. The warrant was issued for various records including, among other things, business records of their I.R.G. business related to the wagering activities of certain customers. The co stated, "At this point, we understand that the company is not a target of the investigation. We are cooperating with the U.S. government in their investigation."
this seems to be why -
Youbet.com disclosed in 8-K after the close yesterday, that the U.S. District Court has issued and served a search warrant on the co's headquarters (UBET) 2.00 : UBET is trading down in pre-market activity, following an 8-K released yesterday after the close, stating that on Oct 4, 2007, a search warrant was issued and served by the U.S. District Court for the Central District of California on the co headquarters. The warrant was issued for various records including, among other things, business records of their I.R.G. business related to the wagering activities of certain customers. The co stated, "At this point, we understand that the company is not a target of the investigation. We are cooperating with the U.S. government in their investigation."
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