Replies to post #3058 on The Question and Answer Board (IHUB)

[Lola]

but people just posting crazy things I don't think can get into trouble

Yes they can and have. If it causes harm to the company and what's posted is crazy enough they will get into trouble whether or not they profited from the post.

Lola:)

[MMMARY]

SEC rules and message boards

Actually the SEC was getting tougher in regard to internet enforcement. Too bad Bush just cut their budget and is bringing that new big business chairman in.

Westergaard was just one type of stock promoter, the paid company stock promoter. They must have disclaimers on their posts, press releases, sites... I think this is why companies are getting away from this as it's too regulated and if there are disclaimers everywhere, it doesn't really help the stock price. They now prefer the under the table tout via independent people and companies. This is where the SEC needs to now crack down and they are. I think the private sector needs to get tougher also. When they start class action lawsuits against companies for fraud, such as SEVU, they should go after the stock promoters also, directly compnay contracted or not (hi francois!). If a promoter resides in Canada, does he have to have a disclaimer? I doubt it. Here's a great article about this type of promoter
http://www.investorshub.com/boards/read_msg.asp?message_id=111541

Jagfn seems to me to be under the counter promotion. They make the disclaimer teh responsibility of the "newsmen" and keep them independent to limit their liability and increase their respectability. The "newsmen" are the ones possibly getting money, shares for their touts on the shows. Here's a great article about an under the counter tout promoting shows on financial tv shows. I posted htis on jagfn thread also http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=15842314 Also, remember that female "analyst" who's made millions recommending companies. her recommendations are never really right on either, imagine that ;-)

The sec has gone after a few independent pump and dumpers and forced them to disgorge earnings. I hope they continue. Securities fraud is securities fraud. It doesn't matter if it's a large company commmitting the fraud or a grandmother in Florida. It's still fraud.

Westergaard was sued by the SEC for fraud. I posted the actual sections in that site http://www.mary.cc/wbn He was sued for more than just lack of disclaimer. They sued CCE for the same thing. Both of these companies pumped ASTN and were sued for fraud by the SEC.