Private Investor Sues IDO Security, Inc., Empire Post Media, Inc. and Mustang Alliances, Inc. Over Violation of Anti-Spam Laws
24 Julio 2012 - 9:30AM
A private citizen has filed a civil action for violations of
California Business and Professions Codes 17529.5 (Anti-Spam) and
the California Legal Remedies Act against IDO Security, Inc.,
(OTCBB:IDOI) ("IDOI"), Empire Post Media, Inc (OTCBB:EMPM)
("EMPIRE") and Mustang Alliances, Inc. (OTCBB:MSTG), as well as
various officers and shareholders of those companies and others
involved in a scheme allegedly to disseminate spam emails in order
to artificially create a marketplace for the stocks of those
companies at artificially high prices. The Complaint was filed by
George Sharp in the San Diego County Division of California
Superior Court (Case No. 37-2012-00101057-CU-NP-CTL) on July 23,
2012.
In his complaint, Mr. Sharp states that the Defendants
deliberately hired offshore promoters and/or advertisers to
disseminate unsolicited emails under the identities Stock Castle,
Wall Street Penny Stock Advisors, Hottest Penny Stocks, Magic Penny
Stocks, Obscure Stocks, and Ultimate Penny Stock, imploring him to
buy IDOI, EMPIRE and MUSTANG stock; and, in spite of multiple
attempts by the Plaintiff to opt out of these emails, the spam
continued to be sent to his inbox. Under BPC § 17529.5, violators
are subject to pay damages of up to $1,000 for each spam email to
each recipient. Mr. Sharp is also seeking a preliminary injunction
against the defendants in order to prevent the practice from
continuing.
Mr. Sharp, expressed concern for investors in IDO Security, Inc.
stock, an issue that is currently undergoing such a promotion
campaigns, seemingly to divest insiders of stock in what is
commonly known as a Pump and Dump campaign. As virtually all of
IDOI stock was held by a few individuals, prior to the commencement
of the promotions, Mr. Sharp fears that investors in that stock
will see the kind of harsh losses typically realized as a result of
such campaigns, and as experienced by investors in EMPIRE and
MUSTANG shares.
Mr. Sharp commented, "I have no idea how these spammers came to
add my email addresses to their lists, but even after attempting to
opt out through their Unsubscribe links, the emails kept coming. It
just goes to show the lengths that some unscrupulous promoters will
go in order to aid their clients' intentions to divest themselves
of stock."
Mr. Sharp holds no interest in any of the stocks mentioned. Mr.
Sharp invites those who have received unwanted emails from these
alleged spammers to contact him. Updates to this litigation may be
viewed by following Mr. Sharp's tweets at www.twitter.com/goniffs.
A copy of the complaint is available upon request,
CONTACT: George Sharp
george@clippercp.com
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