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Article: Smart Online's stocks rebound.
- Article from:
- The Herald-Sun (Durham, NC)
- Article date:
- September 13, 2007
CopyrightCOPYRIGHT 2007 The Herald-Sun. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Monica Chen
Sep. 13--DURHAM -- Smart Online's stocks rebounded Wednesday following the company's announcement of an interim president and chief executive officer.
The Durham-based Web services provider weathered a storm Tuesday when its CEO, Dennis Michael Nouri, and his brother, Reeza Eric Nouri, were arrested and charged with securities fraud and conspiracy.
The men are known by their middle names in court documents.
Smart Online's stock, traded on the over-the-counter Bulletin Board as SOLN, had once been as high as $11.50 -- in 2005.
The stock lost three-fourths of its value to close at 68 cents a share Tuesday ...