The Securities Sleuth

TROUBLE AT JACKSON HEWITT TAX SERVICE

(NYSE: JTX)

April 18, 2007

Thank goodness tax time is over. But the last two weeks have
been a difficult time for investors and customers of Jackson Hewitt Tax Service (NYSE: JTX). On April 3, 2007, JTX stock plummeted 18% after it was disclosed that the US Department of Justice sued the operators of more than 125 Jackson Hewitt tax preparation offices accusing them of cheating the Treasury of more than $70 million through a "pervasive and massive series of tax-fraud schemes "

So, if you just filed your taxes and indicated that Jackson Hewitt
prepared your return, don't be surprised if the IRS takes a few
extra minutes when they review your return.

Of course, it is JTX investors who are most affected, in particular
those who purchased JTX shares between January 4, 2006 and
April 3, 2007.

Powell Industries (NASDAQ: POWL) Plans to Restate

Houston-based Powell Industries (NASDAQ: POWL), a manufacturer of equipment to track and control electricity flow announced on April 13, 2007 after the close of trading that it plans to restate financial statements and its assessment of internal controls. The Company explained that the accounting errors were discovered in the course of a review of the financial results by a new controller of the division shortly after joining the Company.

Negative Developments at Electronic Clearing House, Inc. (NASDAQ: ECHO)

Investors in Electronic Clearing House, Inc. (NASDAQ: ECHO) have
been stunned by recent developments. On March 27, 2007, the price of ECHO dropped more than one third after the Company announced its agreement with Intuit to terminate the merger agreement entered into by the companies on December 14, 2006. The Company also disclosed that it had been cooperating as a witness in a federal investigation relating to its Internet Wallet customers that provided services to online gaming websites. The Company agreed to disgorge $2.3 million. It appears that investors who purchased ECHO between December 14, 2006 and March 26, 2007 are affected.

Other cases under investigation are:

CTS Corporation (NYSE: CTS)
Inphonic, Inc. (INPC)
Jackson Hewitt Tax Service Inc. (NYSE: JTX)
Fremont General Corporation (NYSE: FMT)
Occam Networks (OCNW)
Thor Industries, Inc.(THO)
U.S. Auto Parts Network, Inc. (NASDAQ: PRTS)

Now with respect to securities cases that have recently settled. If you are an affected investor – you purchased any of these stocks during the relevant class period, you may wish to contact the claims administrator to obtain additional information. Remember, if you don’t submit your claim form, you won’t receive your share of any settlement.

Catalina Marketing Corp. (POS)
Class Period: October 14, 1999 to August 25, 2003
Claim Deadline: May 21, 2007
Claims Administrator: Gilardi

Spear & Jackson, Inc. (SJCK)
Class Period: February 1, 2002 to April 1, 2003
Claims Deadline: June 26, 2007
Claims Administrator: Garden City

Information regarding other recent settled cases, including the cases listed below can be found at www.securitiessleuth.com.

Winstar Communications (WCII)
Ibis Technology Corp. (IBIS)
Astropower, Inc. (APWR)

Again, you should contact the claims administrator (rather than us). However, if you are an affected investor in any of the companies under investigation, you many wish to contact us so that you can consider your options.

Likewise, if you happen to be aware of corporate restatements or other financial fraud -- especially if you're a victim -- you're encouraged to contribute to the Sleuth by giving your own tip-offs at http://securitiessleuth.typepad.com or by e-mailing info@securitiessleuth.com. You can also call Mark McNair at 877-511-4717. If you have a friend or colleague you think would benefit from The Sleuth, please pass along this issue and ask them to sign up at http://www.cartville.com/app/join.asp?MerchantID=47994.

Warmest regards,

Mark McNair