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 engine specialist AltaVista Co. Tuesday revealed that it would lend the latest version of its search engine software Hewlett-Packard Co.'s HP-UX 11.0 operating environment this summer.
more »
TWO SMALL DEVELOPMENT shops are looking to help companies use .NET Web services with Linux and Java.
more »
Identical names outside ICANN's jurisdiction have been claimed at different registries. When these sites go live, prepare for some bitter fighting.
more »
General Motors is taking another small technology company for a test drive.
more »
Plan Today for E-Business Future
more »
search.lt presents newest links
more »
Microsoft on Friday released the first of two expected final testing versions of Windows XP.
more »
New Zealand Proposes Tax On E-Commerce
more »
Delta Electronics, among others know, as a major manufacturer of power supplies, will start production of optical transceivers in China, probably in July or August.
more »
TWO NEW INTERNET TLDs (top-level domains) -- .biz and .info -- went live Wednesday, the ICANN (Internet Corporation for Assigned Names and Numbers) said in a statement Tuesday.
more »