09 Aug 2007

Leftwing Nutroots Founder Jerome Armstrong Fined by SEC for Stock Manipulation

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New York Times:

Prominent liberal blogger Jerome Armstrong has agreed to pay nearly $30,000 in fines in a settlement with the Securities and Exchange Commission over allegations that Armstrong touted the stock of a software company on Raging Bull, an Internet bulletin board, in 2000, without disclosing that he was being paid to do so.

Armstrong, the co-author of “Crashing the Gate: Netroots, Grassroots, and the Rise of People-Powered Politics,” with Markos Moulitsas of Daily Kos, and the founder of the Democratic activist site MyDD.com, consented to a civil penalty of $20,000, plus disgorgement of $5,832, and $3,235 in interest.

SEC litigation release.

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