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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Mama Bear who wrote (20157)9/20/2000 10:11:07 PM
From: Gary M. Reed  Read Replies (3) of 436258
 
he claimed in one of his messages that a company trading at $2 per share would be trading at more than $20 per share "very soon."

And therein lies his mistake. Tout a $2 stock by saying it's going to $20 and you're a criminal. Tout a $50 stock by saying it's going to $1,000 and you're an analyst.

...The postings Lebed made to Internet website message boards included baseless price predictions and other false and/or misleading statements...The posted messages always caused the price and volume of the touted stocks to increase dramatically.

Sooo...what's the difference between posting such rubbish on a message board, vis-a-vis putting it on a brokerage firm letterhead, calling it "research" and faxing a copy to The Ferret so she can pimp it for you from the floor of the NYSE each morning? Am I right in assuming the SEC is more concerned with the way false and misleading statements are distributed, rather than the false and misleading statements themselves?
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