While honest sites like FalconStocks.com get overlooked by scam sites with huge advertising budgets and outright lies, there are a few of us out there trying to stop scam sites like AwesomePennyStocks (fraud) from fleecing the public.
Last week, George Sharp, responded to the hundreds of emails and telephone calls he has received from wounded investors seeking retribution for losses, by joining his lawsuit as additional plaintiffs. As previously announced, Mr. Sharp has launched litigation (San Diego County Division of California Superior Court Case No. 37-2013-00048310-CU-MC-CTL) for violations of California Business and Professions Codes 17529.5 (Anti-Spam), during a scheme to disseminate spam emails in order to artificially create a marketplace for the stocks of worthless companies at artificially high prices, in what is commonly known as a pump and dump scheme.
Named as defendants in the case are: Degroupa Tenner Morales Media Corp. and Centro Azteca S.A., the current and former publishers of the Awesome Penny Stocks series of newsletters; and, Victory Mark Corp Ltd., the publisher of newsletters Select Penny Stocks, Preferred Penny Stocks and Penny Stock Heroes. Several companies promoted by the newsletters were also identified as defendants, including: Xumanii (XUII); Harbor Island Development Corp (HIDC); Red Giant Entertainment, Inc. (REDG); VuMee, Inc. (VUME); Pub Crawl Holdings, Inc. (PBCW); PacWest Equities, Inc (Pink Sheets:PWEI); Amwest Imaging, Inc. (AMWI); Goff Corporation (GOFF); Swingplane Ventures, Inc. (SWVI); World Moto, Inc. (FARE); Taglikeme Corp (TAGG); and, Pharmagen, Inc (PHRX), which was known as SunPeak Ventures, Inc and traded under the symbol “SNPK”, during that promotion.
In an attempt to stem the tide of inquires he is receiving, Mr. Sharp advises parties interested in seeking reimbursement for losses incurred due to these nefarious schemes, to contact legal counsel, as he is unable to add additional plaintiffs to his litigation.
Mr. Sharp also cautions investors not to invest in penny stocks promoted through email advertisements, as these are almost always devious attempts to separate innocent investors from their savings, by selling worthless near-worthless stock at heavily over-inflated prices. Mr. Sharp suggests exercising careful due diligence by examining company regulatory filings, including financial statements, found at SEC.gov and OTCmarkets.com.