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Phony SEC press releases along with other documents are nothing new, especially in the Internet age. The fee has in the past pursued enforcement actions against individuals who have designed and released them.
A vibrant social media network dedicated to Oriental stocks has developed over the last couple of years. The fake SEC grievance was posted and reposted by dozens of Twitter users. In addition, it found its way to several market concentrated blogs and Web sites.
The particular complaint was a fairly clear fabrication. Marred by sentence errors, it carried the litigation release number "21053.Inches The true SEC document known by that Parajumpers Long Bear number is the news of a permanent injunction against the Victor Ragucci in April The new year.
Block, who, by his personal admission, takes short postures in the stocks he brazenly accuses, has certainly made predators. His scathing research reports possess predated the implosions of
Rino International in addition to
China MedieExpress. A third report, in(DGW), came days before the
Nyse halted trading in the stock.
A fourth, which arrested the Toronto listed
Sino Woods of brazen fraud, has stimulated concern among investors this accounting problems exist at Chinese companies beyond the smaller cap names that entered the public markets through hide avenues, such as reverse mergers. The particular Sino Forest controversy, which has consumed even world class investors including hedge fund manager Ruben Paulson, has has helped cause the Cina stock fraud phenomenon to help make the front pages of the global major newspapers, along with the much talked about troubles of(LFT), an Can be listed stock that journeyed public through an IPO. (Paulson possesses reportedly unloaded his position within Sino Forest.)
Block got his or her start almost exactly a year ago, when he put out a report about
Orient Paper
(ONP ) that triggered a long short battle which
played out on these very Web pages.
Orient Paper provides denied Block's allegations and has eliminated the utter disasters that are fitted with afflicted his other concentrates on; its stock recently dealt with at $3.19. (Block is an acronym by his research on the paper company.)

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