Fraudulent Report Used to Drive Up Stock

from the day-traders-getting-a-little-too-desperate dept

Interesting story of how the combination of a faked Bloomberg store and it spreading over a Yahoo! message board induced a jump in PairGain’s stock. While I’m sure the story was very cleverly done (as claimed in the article) don’t you think people would notice the fact that the supposed Bloomberg report appeared on an Angelfire website? That would be my first clue that this was a total sham.

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