2 ms·
See also: https://www.sec.gov/news/pressrelease/2016-60.html https://www.sec.gov/news/pressrelease/2016-60.html > The SEC alleges that Tobin Smith and NBT Grou
by btown 9y ago
See also: https://www.sec.gov/news/pressrelease/2016-60.html https://www.sec.gov/news/pressrelease/2016-60.html
> The SEC alleges that Tobin Smith and NBT Group Inc. were paid to prepare and disseminate e-mails, online blogs, articles, and other communications touting the stock of IceWEB Inc., a data storage company. Smith and NBT did not fully disclose their compensation to investors, who did not have the benefit of knowing that part of their pay was tied to a sustained increase in IceWEB’s share price. The promotional material also contained false and misleading statements intended to artificially increase the trading volume and share price of IceWEB’s stock.
Whether or not it happens on a blog, fraud and failure to sufficiently disclose conflicts of interest are generally frowned upon by market regulators.