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 »
Just a few weeks ago, the world's tiniest video camera was as small as a grain of rice. Today, the world's NanoEst camera is even smaller.
more »
During the experiment two research groups managed to overcome a symbolic 100 TB/s optical fiber data transmission speed limit.
more »
Apple’s long–awaited online storage service for iTunes could be named iCloud, if only rumours are to be believed.
more »
The founders of video-sharing site YouTube have bought bookmarking service Delicious from Yahoo.
more »
The successful raid by hackers on Sony’s PlayStation Network is already being ranked among the biggest data thefts of all time.
more »
Apple has denied that its iPhones and 3G iPads have been secretly recording their owners' movements.
more »
Customers who have waited nearly 10 months for the white version of the iPhone 4 won’t have to wait much longer. The Great White iPhone 4 is finally here.
more »
Researchers at Georgia Tech University are teaching a robot the basics of dialogue. Named "Simon", the robot has already been taught how to attract a person's attention but eventually, it's hoped he'll be able to interact and converse with humans in daily life.
more »
3D? Terribly lame when it's tossed into devices as a bullet point feature. Trimensional for iPhone takes a picture of your face and maps your mug in a 3D model.
more »
The European Union is to investigate whether internet service providers (ISPs) are providing fair access to online services.
more »