A US man is being sued for allegedly posting a misleading financial information on Yahoo's! Finance bulletin board last October.
Published:
4 January 2002 y., Friday
The Securities and Exchange Commission (SEC) alleged that 24-year-old Kentucky man Ned Sneiderman posted a false press release which claimed that broadband outfit Extreme Networks was buying IT firm Viasource.
The posting helped double Viasource's stock price although both companies moved quickly to deny that the press release was genuine. The SEC claims Mr Sneiderman bought Viasource stock immediately before posting the fake statement but was unable to cash in on the rise since shares in both companies were suspended.
A few mostly US companies have been subject to crude but successful attempts to ramp up prices with the release of false press releases on the Net. These include Pairgain and Emulex.
In March 2000, The UK's Financial Services Authority (FSA) issued a number of warning to investors warning them to be on their guard about share tips published on bulletin boards.
Šaltinis:
theregister.co.uk
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Software company announced new structure_ of it_s business.
more »
ParallelGraphics Web3D project tracks MIR's Final Journey Back
more »
Norwegians to Implement Largest-Ever E-Business Project
more »
Orbitz - the airline industry's embattled Internet-ticketing project - will strengthen rather than stifle competition in the travel industry, according to a new report commissioned by Orbitz.
more »
A World Wide Web of Organized Crime An Eastern European ring may have lifted over a million credit-card numbers from the Net.
more »
Software can now produce encrypted worms
more »
After opening its quarterly forum to public input, the International Corporation for Assigned Names and Numbers (ICANN) has been criticized for protecting the monopoly of US domain name registrar VeriSign
more »
For the past year, Eastern European-based hackers have been systematically exploiting known Windows NT vulnerabilities to steal customer data, according to reports from the FBI and SANS Institute.
more »
Despite a slow start, the Internet appliance market is poised to grow dramatically, with shipments of more than 174 million units expected by 2006
more »
search.lt presents newest links
more »
An Internet startup that plans to create its own top-level domain names is likely to cause bigger trouble for Web surfers than for the Internet Corporation for Assigned Names and Numbers, ICANN officials say.
more »