The moderator of this board has been spamming his ASCO pick on multiple message boards for 2 years now.
When a post is made on another board about another stock, a P.S. is added many times (normaly on a day when the stock is up.....hmmm...) and he tells everybody to add 'ASCO, the tomorrow stock of today' and claims it is a MUST HAVE for any portfolio.
The stock has been touted for 2 years now and those that listened watched the stock go from the $1.80's down to .70 and the rumors I hear are the company is not all they claim to be.
When I contacted the company, I asked if they paid to have their company promoted. I was told 'Yes, all company's have to pay to market their business'. I then said I understood the company needed to be marketed and that it takes money to do so, or shares of stock, but I did not think paying message board posters to promote your company was an ethical way of marketing and asked if they have ever compensated anybody to post about the company on a message board. They tried to skirt the question by saying 'we employ many ways to get our name out there and can not comment on the different ways we do so'.
To me, that is an admission, imo, that they did or still do pay to have message board posters pump their company. If they had not paid shares to message board posters, I believe they like any company would have denied it 110%.
I then asked if a message board poster was compensated to promote the company on a message board was it not illegal to not disclose? They said it was not illegal for them, but they could not speak on behalf of individuals and the laws that govern this.
It is my belief that it is indeed illegal to be compensated to promote a stock without disclosing such on the message boards.
If so, I hereby request that anybody that was compensated to promote this company, please step forward and disclose so that you are not included in the report being sent to the Authorities by other shareholders (not me as I never touched this POS. Seeing as the person that was touting this picks a stock and it then plumetts, I knew better then to touch this, but I am helping the stuckholders that got the shaft on the bogus touts while the touter was likely dumping shares when telling others to buy)
To those pm'ing me and e-mailing me about class action lawsuits against the company and certain message board posters, I am not a lawyer and suggest you speak to one as I cannot answer those questions. To those that were asking if any criminal offenses occured, again you would need to speak with your attorney to see what remedies are available to you in that regard.
I am merely helping a few people that got the royal shaft on this and then came in to information that showed some possible wrongdoings. |
