SAN DIEGO, May 15, 2013 (GLOBE NEWSWIRE) -- Private citizen, George Sharp, responds 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 (OTCQB:XUII); Harbor Island Development Corp (OTCQB:HIDC); Red Giant Entertainment, Inc. (OTCQB:REDG); VuMee, Inc. (OTCQB:VUME); Pub Crawl Holdings, Inc. (OTCQB:PBCW); PacWest Equities, Inc (Pink Sheets:PWEI); Amwest Imaging, Inc. (OTCQB:AMWI); Goff Corporation (OTCQB:GOFF); Swingplane Ventures, Inc. (OTCQB:SWVI); World Moto, Inc. (OTCQB:FARE); Taglikeme Corp (OTCQB:TAGG); and, Pharmagen, Inc (OTCQB: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. Mr. Sharp also recommends popular websites, PumpsAndDumps.com and PromotionStockSecrets.com as sources of due diligence and promoted stock trading analysis.
Mr. Sharp, continues to express concern for investors in Xumanii stock, the current subject of just such a Pump and Dump scheme perpetrated by these defendants. As virtually every share of Xumanii stock was held by just a few individuals prior to the commencement of the current promotion campaign, Mr. Sharp fears that investors in Xumanii stock will see the kind of harsh losses typically realized as a result of such campaigns. Mr. Sharp alleges that hundreds of millions of dollars have been lost by investors in schemes concocted by these defendants.
Mr. Sharp holds no interest in any of the stocks mentioned.
Updates to this litigation may be viewed by following Mr. Sharp's tweets at www.twitter.com/goniffs.