Here is one evryone might like to read.
canoe.com files suit against radio talk show host
WASHINGTON (Reuters) - The Securities and Exchange Commission sued the host of a national radio talk show for allegedly
promoting the stock of a company without disclosing he was being paid by the company to do so.
The SEC said Wednesday it sued Jerome Wenger, 52, who hosts "The Next SuperStock" radio program on more than 10 radio
stations across the country.
The SEC alleged that Wenger promoted Transco Research Corp., a New York-based company that distributes pre-paid telephone
cards and cellular telephones, in return for $4,000 in cash and 59,000 shares of company stock that he later sold for $71,000.
The suit, filed in U.S. District Court for the Southern District of New York, seeks civil penalties and an order forcing Wenger to
return his profit plus interest.
Neither Wenger, of Bethesda, Md., nor Transco could be reached for comment.
Wenger, who also publishes a newsletter and runs an Internet site with the same name as his radio show, allegedly featured the
company on his program and an affiliated radio show about 40 times between June and September without revealing his alleged deal
with Transco, the suit charged. |
