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Pastimes : Business Wire Falls for April Fools Prank, Sues FBNers
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To: Berney who wrote (225)4/28/1999 5:23:00 AM
From: Bill Ulrich  Read Replies (1) of 3795
 
3 simple reasons. We wanted to point out a few things.

1. Many people have a "I read it on the net, so it must be true" attitude, and they don't realize that companies simply pay a fee to have their own words distributed. In the case of many scam stocks, such as MTEI, people read that company's excessive land/resource valuations, in press releases, as "Gospel". Later, the SEC halted trading, and a lot of people woke up to a harsh reality. Another classic is RMIL, which hasn't traded in about 16 months. Plenty of examples on this thread as well as #Subject-27618

2. The "ticker-spamming" issue is another source of misinformation. Check out the "shoulders of giants" post as an example: #reply-9171320

We're simply showing people certain practices that unsavory companies like MTEI have used—and still do… Not everybody is aware of how these things operate.

3. It was an April Fool's Joke.
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