The Question and Answer Board

[jimmenknee]

Disclosure has always been a head scratcher for me-- wouldn't they be in violation of the anti-fraud and anti-touting provisions of federal securities laws if they didn't? Example:

"...The authors of the spams, online newsletters, message board postings and Web sites unlawfully touted more than 235 Microcap companies, by either: (1) lying about the companies; (2) lying about their own "independence" from the companies; and/or (3) failing to disclose adequately the nature, source and amount of compensation paid by the companies. The creators of the Internet touts purported to provide unbiased opinions in their recommendations, but failed to disclose that they had received in total more than $6.3 million and nearly two million shares of cheap insider stock and options in exchange for touting services. In some instances, the fraudsters sold their stock or exercised their options immediately following their recommendations, a deceptive practice commonly referred to as "scalping." "
http://ftp.sec.gov/news/headlines/netfraud.htm