Comment from internet fraud lawyer Steven Philippsohn on the reports of a Japanese internet service provider accused of a share price manipulation scheme.
The company allegedly altered the value of its share price by intentionally planting rumors about itself on on-line chat rooms in an elaborate ploy to boost shareholder confidence. The allegations have lead to a massive dumping of stocks across the Japanese stock exchange as investors fear that other over-performing companies in the industry may have manipulated their stock value in a similar way.
Although this took place in Japan, there have in the past been examples in other financial markets, of traders, share tipsters and companies themselves attempting to maintain or increase share prices with no real basis for doing so.
Where shareholders suspect that the value of their shares have been manipulated in some way by the operation of some fraud they should seek advice immediately before their shares are rendered worthless. Victims may have a variety of remedies which enable them to identify, freeze and seize the assets of those responsible.
