Internet Wire Needs to clean up its act..
In August 2000, a hoax press release was sent over Internet Wire about a publicly traded company called Emulex. The press release, which was sent out by a disgruntled Internet Wire employee, caused a 62% drop in the Emulex share price in one day – costing investors $110 million.
Now Internet Wire have replicated the trick, a hoax press release purportedly from small cap biopharmaceuticals firm, Cel-Sci was sent out June 10 announcing an non-existent partnership in Japan. The result? Trading volume five times the average and a significant share price gain.
It’s time Internet Wire took hold of the situation, it’s not good enough to simply say that staff didn’t follow procedures. The fact that this has happened twice in as many years isn’t good enough.
Murphy's Law 