If someone writes you a check for $1,000.00 and post dates it.......and you cash it and its no good......is that a crime?
answer : No
Really? Is it "not a crime", or is it just a crime unlikely to be prosecuted because it's an isolated case, and the perp may have some kind of excuse? What about the "pattern of behavior" stuff? What if the person had written large numbers of post-dated checks that turned out to be no good? What if all that added up to tens of thousands of dollars?
Are you comparing that to a penny company whose "forward looking statements" are way too enthusiastic? Revenue "projections" that are off the mark? In that case it would depend on whether the company had actually lied; if it had made untrue and unrealistic statements "with scienter".
One inaccurate statement in one press release probably won't pique the authorities' interest, unless it's a real whopper. But a series of crazy claims could end badly for management. There've been plenty of SEC lawsuits filed for "material misrepresentation" in press releases, SEC filings, and even OTCMarkets disclosures.
