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 »
search.lt presents newest links
more »
Japan has moved a step closer to Prime Minister Yoshiro Mori's goal of creating an e-nation when parliament approved a bill adopting the Information Technology (IT) revolution as a national goal.
more »
New type of media came to Lithuania. Now it is rather controversial and there are a lot of legal and moral problems to be discussed.
more »
search.lt presents newest links
more »
Latvian, Lithuanian and Estonian senior government officials, judges and intellectual property specialists gathered in Riga last week
more »
A Web site offering citizens a chance to auction their vote to the highest bidder is back online today using a pure Internet protocol (IP) address.
more »
International attention was inadvertently focused on Manila's software community earlier this year when the most damaging computer virus ever released crippled computers worldwide.
more »
Ericsson's Estonian operation Wednesday launched a unit for third generation mobile network planning that will be designing new networks primarily for the international market.
more »
Web media streaming giant RealNetworks has teamed with Sony to introduce a new version of its RealAudio technology, which allows sound to be broadcast via the Internet.
more »
3Com lifted the curtain Tuesday on Audrey, a countertop appliance designed to give gadget-happy families a quick way to surf the Web and shoot off email.
more »