Operation Spamalot - SEC takes action against Stock spammers

Posted Monday, March 12, 2007 8:21 PM by hwaldron
Probably, most of us have received those annoying stock spam advertising messages that tell us to hurry up and buy them up, so you can make a 10-fold return on your investment   The SEC has taken recent action in suspending trading for 35 companies (most likely those who were actually participating directly in these schemes).  The practice hasn't ended as I personally recieved more of these today, but this type of action might reduce the overall volume of these types of messages.  

Operation Spamalot - SEC takes action against Stock spammers
http://www.avertlabs.com/research/blog/?p=217
http://www.sec.gov/news/press/2007/2007-34.htm

quote:

The Securities and Exchange Commission (SEC) announced in a press release on March 8 that it has suspended trading in securities of 35 pink sheet companies that have been the subject of recent stock spam campaigns.  Stock spam has increased in volume in recent times and now represents a significant percentage of what we see each day. In 2006 alone we saw more than 300 different stocks being spammed. 

Comments

No Comments