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 »
Croatia is among the European leaders in the implementation of mobile payments, according to a recent global study of the sector by Arthur D Little, the world’s first management consulting firm
more »
It is now possible to search Russia for offers or bids to sell or buy businesses via the Internet, by means of a special search engine called "Investor Searcher"
more »
Linux creator Linus Torvalds had a few things to say this week about the way potential security issues are disclosed to fellow open sourcers
more »
NUMBER OF INTERNET USERS REACHES 675,000, MOBILE USERS 544,100
more »
British Airways has launched a new Internet site, making it easier and quicker for customers to find what they need at the click of a button
more »
The Internet has been around for much longer than most people think, with its roots able to be traced back to the 1960s. Clear goals have driven some, whilst others have become household names almost by accident. Find fascinating facts on a phenomenon that has changed communication to an extent which was previously totally unimaginable.
more »
Hewlett-Packard and Intel designed the Itanium chip together, but HP is handing the project over
more »
Internet Will be Provided to 300 Remote Villages of Lithuania
more »
The European Commission is to warn eight European Union member states to bring their regulatory regimes for electronic communications into line with common standards or face legal action in the Court of Justice
more »