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 »
IBM will start selling its Web software with enhancements to let companies conduct fully automated electronic commerce on the Internet without people clicking on browsers.
more »
search.lt presents newest links
more »
A massive 98.7 percent of Singapore companies have Internet connections, and business-to-business (B2B) e-commerce is expected to be worth 109 billion Singapore dollars
more »
Specialists from the State Protection Office (UOP) have developed an e-mail safety code scheme for use in NATO countries' national security systems
more »
Move may make software pricier for many firms
more »
The "Homepage" Internet-Worm Does Not Pose a Threat to Kaspersky Anti-Virus Users
more »
Bank of America signs with ASP but can license software later
more »
Sales of Pocket PCs, and particularly Compaq's iPAQ handheld, surged in Western Europe in the first quarter of 2001 while Psion handhelds lost ground and Palm had mixed results
more »
Sony's robot dog is learning some new tricks and, as a true high-tech pet, will be able to fetch e-mail.
more »
MICROSOFT will announce this week that Windows XP is slated to ship in late October
more »