SAN DIEGO, Aug. 2, 2012 (GLOBE NEWSWIRE) -- George Sharp, a private citizen who has filed a civil action for violations of California Business and Professions Codes 17529.5 (Anti-Spam) and the California Legal Remedies Act against IDO Security, Inc., (OTCBB:IDOI) ("IDOI"), Empire Post Media, Inc (OTCBB:EMPM) ("EMPIRE") and Mustang Alliances, Inc. (OTCBB:MSTG), as well as various officers and shareholders of those companies announced today that he continues to receive spam emails promoting IDOI, which Mr. Sharp assumes is a scheme to artificially create a marketplace for the stock of that company at artificially high prices. The Complaint was filed by George Sharp in the San Diego County Division of California Superior Court (Case No. 37-2012-00101057-CU-NP-CTL) on July 23, 2012.
In his complaint, Mr. Sharp states that the Defendants deliberately hired offshore promoters and/or advertisers to disseminate unsolicited emails under the identities Stock Castle, Wall Street Penny Stock Advisors, Hottest Penny Stocks, Magic Penny Stocks, Obscure Stocks, and Ultimate Penny Stock, imploring him to buy IDOI, EMPIRE and MUSTANG stock; and, in spite of multiple attempts by the Plaintiff to opt out of these emails, the spam continued to be sent to his inbox. Under BPC § 17529.5, violators are subject to pay damages of up to $1,000 for each spam email to each recipient. Mr. Sharp is also seeking a preliminary injunction against the defendants in order to prevent the practice from continuing.
Mr. Sharp, continued to express concerns for investors in IDO Security, Inc. stock, an issue that is currently undergoing such a promotion campaigns, seemingly to divest insiders of stock in what is commonly known as a Pump and Dump campaign. Mr. Sharp fears that investors in that stock will see the kind of harsh losses typically realized as a result of such campaigns, and as experienced by investors in EMPIRE and MUSTANG shares.
Mr. Sharp commented, "The continued dissemination to me of spam emails, even after I filed and announced this lawsuit, is a clearly indication of the intent of some or all of the Defendants, to dump their stock in spite of any possible consequences. This is a blatant disregard for the law regarding spam or the losses always incurred by most participants in these schemes." To this end, Mr. Sharp noted that while IDOI issued a press release claiming no culpability as alleged by the litigation, it did not disavow the alleged intent of the spam emails or the subject promotion campaign.
Mr. Sharp holds no interest in any of the stocks mentioned. Mr. Sharp invites those who have received unwanted emails from these alleged spammers to contact him. Updates to this litigation may be viewed by following Mr. Sharp's tweets at www.twitter.com/goniffs. A copy of the complaint is available upon request.