Wayt writes, “Andrew Murstein, the 57-year-old president and chief operating officer of Manhattan-based Medallion Financial Corp., allegedly came up with the scheme as the rise of Uber and Lyft caused investors to sour on taxi-related stocks.
“In a bid to change investors’ minds, the SEC says, Murstein hatched a plan: hiring media strategists to write articles boosting his company without disclosing that they were being paid. The strategists then used fake names to place at least 50 articles about Medallion Financial on sites including Seeking Alpha, TheStreet, HuffPost and Crain’s New York Business from 2014 to 2017, according to the complaint.
“‘Murstein allegedly paid for more than 50 articles and hundreds of positive comments, which were really paid advertisements placed across the web in an effort to deceive investors about the value of Medallion’s stock,’ SEC New York regional director Richard Best said.”
Read more here.
Rest of World editor in chief Anup Kaphle sent out the following on Monday: We are excited…
The Financial Times has hired Veena Venugopal as its India newsletter editor. She has been working at…
Benjamin Parkin has been named Middle East and Africa news editor at the Financial Times, based…
Wired has struck an exclusive partnership with 404 Media, a tech news site launched last…
Bloomberg's Middle East News team is fast and innovative, and our mission is to deliver…
Bloomberg News is one of the biggest financial and business news organizations in the world.…