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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: RealMuLan who wrote (20958)	1/10/2005 7:26:06 PM
From: RealMuLan	Read Replies (1) of 116555

Former MarketWatch columnist paying more than $540,000 in settlement on stock trading WASHINGTON A former columnist for online financial news publisher C-B-S MarketWatch-dot-com has agreed to pay more than 540-thousand dollars to settle civil fraud charges he used his newsletter to pump up stock prices and then profited. Thom Calandra neither admitted nor denied wrongdoing in the settlement with the Securities and Exchange Commission. The lawsuit was first filed in federal court in San Francisco, where MarketWatch is based. The S-E-C alleged that Calandra reaped the illegal profits through a practice known as "scalping." Prosecutors said Calandra bought shares of small companies, wrote highly favorable profiles recommending the companies, and then sold his shares when the stock price had been driven up by his promotion. Copyright 2005 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.http://www.kesq.com/Global/story.asp?S=2790488

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