SAN DIEGO, April 15, 2013 (GLOBE NEWSWIRE) -- Private citizen, George Sharp, has named Eco-Trade Corporation (OTCQB:BOPT) ("ECO-TRADE") and Internacional Publizierende Gruppe Limitada, a disseminator of email newsletters promoting the stock of overvalued companies, as additional defendants in an ongoing civil action for violations of California Business and Professions Codes 17529.5 (Anti-Spam) and the California Legal Remedies Act. The complaint identifies these defendants and others involved in a scheme allegedly to disseminate spam emails in order to artificially create a marketplace for the stocks 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.
In his complaint, Mr. Sharp states that the Defendants deliberately used offshore promoters and/or advertisers to disseminate unsolicited emails, imploring him to buy BOPT stock; and, in spite of multiple attempts by the Plaintiff to opt out of these emails, the spam continued to be sent to his inbox. Under BPC § 17529.5, violators are subject to pay damages of up to $1,000 for each spam email to each recipient.
Mr. Sharp, expressed concern for investors in ECO-TRADE stock, an issue that is currently undergoing such an aggressive promotion campaigns, seemingly to divest insiders of stock, in what is commonly known as a Pump and Dump campaign. As virtually all of ECO-TRADE stock was recently held by just a few individuals, prior to the commencement of the promotions, Mr. Sharp fears that investors in that stock will see the kind of harsh losses typically realized as a result of such campaigns. Mr. Sharp alleges that insiders of ECO-TRADE, including recently replaced director and President, William Lieberman, have been involved in other such Pump and Dump campaigns, including those regarding other Lieberman controlled entities, Trilliant Exploration Corp, Mammoth Energy Group, Inc, and Fox Petroleum, Inc., an issue recently removed to the Grey Markets after OTC Markets, Inc. determined that it was involved in a series of questionable promotions.
Updates to this litigation may be viewed by following Mr. Sharp's tweets at www.twitter.com/goniffs.