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 »
LIVE Linux-Verband e.V., a German association promoting the interests of Linux users and software developers in the country, is mulling whether to drop the German subsidiary of The SCO Group Inc. as a member
more »
Applications and nominations for this year’s annual global ATM security awards will be evaluated by three independent international judges
more »
DAB, a decade-old digital radio broadcasting technology based on Europe's Eureka-147 standard, is poised to take off in volume later this year
more »
search.lt presents newest links
more »
National Bank launches 163 salary projects on plastic cards
more »
There's no doubt that eBay really is a vast improvement on the old Exchange and Mart when it comes to getting rid of unwanted items
more »
Howard Carmack, the notorious 'Buffalo Spammer' accused of sending more than 825 million unsolicited e-mails from illegal EarthLink accounts, has been arrested and arraigned in New York on four felony and two misdemeanor counts.
more »
Demand for information technology workers is at a four-year low, according to a survey from the Information Technology Association of America
more »
search.lt presents newest links
more »
Software giant fixes flaw, could face massive penalty
more »