SEC Suspends Companies in Spam Crackdown
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SEC Suspends Companies in Spam Crackdown | Chron.com – Houston Chronicle
Federal regulators on Thursday temporarily suspended the trading in the stock of three companies as part of a crackdown on the use of junk e-mail to hype stocks.
The Securities and Exchange Commission has suspended Alliance Transcription Services Inc., Prime Petroleum Group Inc. and TW Christian Inc., which all trade over-the-counter, through Oct. 17.
The agency said the companies are susceptible to spam stock promotions because they did not provide timely and accurate data on their assets, business operations, financial condition and financing arrangements involving the issuance of their respective shares.
The agency said each company changed its name on Aug. 14, is quoted under a new ticker and purports to have a new business.
MickC @ October 4, 2007