SAN DIEGO, Jan. 17, 2013 (GLOBE NEWSWIRE) -- Private citizen George Sharp announced today that Attorney Luke Zouvas has been subpoenaed to give testimony regarding a civil action filed by Mr. Sharp for violations of California Business and Professions Codes 17529.5 (Anti-Spam) and the California Legal Remedies Act. Amongst the Defendants named are IDO Security, Inc., (OTCBB:IDOI), Empire Post Media, Inc (OTCBB:EMPM), Mustang Alliances, Inc. (OTCBB:MSTG) and Premier Brands, Inc (OTCBB:BRND). Mr. Sharp has identified the defendants as allegedly being involved in a scheme to disseminate spam emails in order to create a marketplace for the stock of those companies at artificially high prices. The Complaint was filed by George Sharp in the San Diego County Division of California Superior Court (Case No. 37-2012-00101057-CU-NP-CTL) on July 23, 2012.
Within his complaint, Mr. Sharp states that the Defendants deliberately hired offshore promoters and/or advertisers to disseminate newsletters through unsolicited emails under the identities Stock Castle, Wall Street Penny Stock Advisors, Hottest Penny Stocks, Magic Penny Stocks, Obscure Stocks, and Ultimate Penny Stock, imploring him to buy IDOI, EMPM, MSTG and BRND stock under what is known as a Pump & Dump campaign. In spite of multiple attempts by the Plaintiff to opt out of these emails, the spam continues to be received. Under BPC Section 17529.5, violators are subject to pay damages of up to $1,000 for each spam email to each recipient. Mr. Sharp is also seeking an injunction against the defendants in order to end the practice.
According to Mr. Sharp, Mr. Zouvas' deposition will be the first of many towards identifying the operators of the newsletters. Mr. Sharp alleges that the mostly British Virgin Island contact addresses provided by these newsletters are invented, a violation of SEC Rule 17(b). According to Mr. Sharp, Mr. Zouvas contacted him on behalf of a client, in order to settle in advance any future claims that Mr. Sharp may have against that client. Just days after executing a Settlement Agreement and General Mutual Release, Mr. Zouvas' client began a similar spam email campaign, still ongoing today.
Mr. Zouvas has expressed to Mr. Sharp his disinterest in being involved in schemes designed to defraud the public and has agreed to fully cooperate with the ongoing discovery process in hopes of identifying the operators of the spam email factory. As such, a subpoena of Mr. Zouvas' client is imminent.
Mr. Sharp holds no interest in any of the stocks mentioned. Mr. Sharp invites those who have received unwanted emails from these alleged spammers to contact him. Updates to this litigation may be viewed by following Mr. Sharp's tweets at www.twitter.com/goniffs. A copy of the complaint is available upon request.