America's Senior Attacks Short-Selling

America's Senior Financial Services, Jupiter, Fla., has announced an effort to identify short-sellers of its shares on the Over-the-Counter Bulletin Board Exchange and said it may move to certificate-only trading.Adopting certificate-only trading would "sidestep the abuses that exist via short-selling of securities held in 'Street name'," the company said. Nelson Locke, the company's chief executive officer and largest shareholder, said America's Senior recently confirmed short-selling by a party who was "significantly short" and informed the party's broker. "Because our shares are [eligible to be sold in Street name], the broker allowed the short-selling to continue even after being advised that the seller could not cover his short position," Mr. Locke said. "We believe we could reduce this type of harmful conduct by requiring that shareholders have physical custody of actual certificates before selling." Mr. Locke also encouraged shareholders to take their shares out of Street name. America's Senior, the parent company of Jupiter Mortgage Corp., can be found online at http://www.americassenior.com.