***News...News...News...***
Folks, I thought you all might be interested in this...
THE AGENCY's 23 enforcement actions filed across
the country involve fraudulent dealings in junk e-mail known
as “spam,” online newsletters, message board postings and
Web sites, the SEC said.
The defendants, in touting the cheaply priced securities
of more than 235 small companies known as microcaps,
violated federal securities laws either by lying about the
companies, lying about their own independence from the
companies, and/or failing to reveal adequately how they
were compensated by the companies, the SEC said.
The SEC says the targeted groups allegedly claimed
they were providing unbiased opinions in their
recommendations but failed to disclose that they got more
than $6.3 million and nearly two million shares of cheap
insider stock and options in exchange for their promotional
efforts.
Companies named in the probe include Future
Superstock, StockstoWatch.com, Princeton Research and
Global Penny Stocks.
Richard Walker, the top enforcement official at the
SEC, said Future Superstock is a “poster child” for the
sweep. The SEC complaint alleges that the online firm
touted 25 issuers to over 100,000 subscribers. In turn,
Future Superstock is alleged to have earned $1.2 million in
cash and stock from the issuers. The online firm claimed it
performed research with respect to the securities that were
recommended. The SEC disputes that claim.
The bold company is one that was involved with Tridon Enterprises... Very very interesting
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