The US Securities and Exchange Commission (SEC) is taking legal action against 27 individuals and several companies over hundreds of fake “impartial” blog posts that appeared on well-known financial websites. In many cases- about 250 articles- the bloggers were secretly paid to write bullish articles to promote mainly small biotech stocks such as Lion Biopharma (LBIO), Arch Therapeutics (ARTH), Galena Biopharma (GALE) and Oncosec Medical (ONCS).
I found Arth mentioned in an article about fake stock promotion ... looked like bad news for Arth initially. The list of companies may have just been examples rather than companies falsely promoted.
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