InvestorsHub Logo
Followers 810
Posts 65047
Boards Moderated 0
Alias Born 03/30/2007

Re: janice shell post# 227568

Wednesday, 06/30/2010 12:28:42 PM

Wednesday, June 30, 2010 12:28:42 PM

Post# of 285932
53. The Defendants have also failed to disclose in some cases the full amount of the compensation they receive for touting stocks on PennyStockChaser.

54. For example, from September 2009 until January 2010, the website said PennyStockChaser had received 140,000 shares of Atlantic's stock from a third party. In reality, an Atlantic affiliate had transferred 430,000 shares of Atlantic stock to Meadow Vista in exchange for touting Atlantic's stock on the website.

55. Furthermore, the PennyStockChaser website states it received 350,000 shares of MSE's stock from a third party. In truth, an MSE affiliate transferred 483,334 shares of MSE's stock to Meadow Vista on October 21,2009 in exchange for touting MSE's stock on the website.

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.