Operation Spamalot

“The Securities and Exchange Commission on Thursday suspended trading in 35 companies whose shares were touted in e-mail spam campaigns.

The SEC said it took the action to protect investors from fraud, because the accuracy of information in e-mails about the companies was questionable. The SEC did not identify who had sent the e-mails or say whether any of the companies was responsible.

E-mails heralded with messages such as “Ready to Explode,” “Ride the Bull” and “Fast Money” clog people’s inboxes — an estimated 100 million of them a week — and spark dramatic spikes in trading and stock prices before the spamming stops and investors lose their money, the SEC said.”

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