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 »
Windows users were warned today to be on their guard for a new Trojan that poses as a racy attachment to a saucy email
more »
Global ranking of communications technology puts U.S. at No. 11, while Sweden takes top spot
more »
search.lt presents newest links
more »
Credit card harvester 'MiMail I' spreading worldwide
more »
Microsoft Corp. on Monday will announce the release of its Virtual PC technology to manufacturing
more »
search.lt presents newest links
more »
European powerhouse Vodafone Group plc announced it will begin selling BlackBerry devices and servers from Research In Motion Ltd
more »
The automotive industry will drive online spending to a projected $1.3 billion by the end of 2003, according to data from Borrell Associates Inc., representing a 15 percent increase over 2002
more »
The U.S. government doesn't have the ability to crack some sophisticated types of encryption, putting investigators of terrorism threats at a disadvantage
more »
While critics in the United States grow more concerned each day about the insecurity of electronic voting machines, Australians designed a system two years ago that addressed and eased most of those concerns
more »