Federal regulators on Thursday temporarily suspended the trading in the stock of three companies as part of a crackdown on using junk e-mail to hype stocks.1
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 issuing 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.
Footnotes
- SEC Suspends Companies in Spam Crackdown | Chron.com – Houston Chronicle, (2007), https://web.archive.org/web/20071011011545/http://chron.com:80/disp/story.mpl/ap/fn/5187542.html (last visited Oct 4, 2007). ↩︎
About the Author
Mickey Chandler is a Consultant & Attorney with over 28 years of experience in Email Deliverability & Privacy Law. He has a strong background in email authentication infrastructure (SPF, DKIM, DMARC), ISP and mailbox provider relations, anti-spam policy and compliance, CAN-SPAM and state anti-spam law gained through overseeing the Abuse & Compliance team at Salesforce Marketing Cloud, originating the ISP relations role at Informz (now part of Higher Logic), and working in the fight against spam since 1997. He holds a B.A. in Government, a B.S. in Computer Information Systems, and a J.D. from the University of Houston Law Center. He is a certified CIPP/US professional and a certified CIPM professional.
