EXSO-holics Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : EXSO-holics

EXSO 0.0001000

0.0%

Mar 7 3:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: WEBNATURAL who wrote (1070)	4/8/1999 10:16:00 AM
From: Harold Feller	Read Replies (1) of 1568

Heres one for the books: (COMTEX) B: Internet Hoax Drives Up PairGain Technologies Stock Price B: Internet Hoax Drives Up PairGain Technologies Stock Price Los Angeles-April 8-FWN/UPI--Authorities today are looking for the perpetrator of a hoax featuring a bogus announcement that an Orange County-based technology company was being acquired for $1.35 billion, driving up the price of the company's stock 31% Wednesday morning. Authorities said the hoax involving Tustin-based PairGain Technologies was unusual in its detail and precision. It used a free Web page service owned by Lycos Inc. to create a site that looked and behaved almost identical to that of Bloomberg News, the financial information wire service. The Los Angeles Times said that the false report was then spread on Yahoo, Inc.'s finance message boards, causing investors to bid up PairGain's shares, making it one of the day's most actively traded stocks. The person responsible for the fake Web site was probably trying to boost the stock price in order to unload shares at a better price. * end of story *

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next