Private Investor Adds Graphite Corporation and Advanced Marketing Services,
LLC as Additional Defendants in Lawsuit Over Violation of Anti-Spam Laws
SAN DIEGO, May 7, 2013 (GLOBE NEWSWIRE) -- Private citizen, George Sharp, has
named Graphite Corporation (OTCQB:GRPH) ("GRAPHITE") and Advanced Marketing
Services LLC, a disseminator of email newsletters promoting the stock of
overvalued companies, as additional defendants in an ongoing civil action for
violations of California Business and Professions Codes 17529.5 (Anti-Spam)
and the California Legal Remedies Act. The complaint identifies these
defendants and others involved in a scheme allegedly to disseminate spam
emails in order to artificially create a marketplace for the stocks of those
companies 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 used
offshore promoters and/or advertisers to disseminate unsolicited emails,
imploring him to buy GRAPHITE stock; and, in spite of multiple attempts by the
Plaintiff to opt out of these unsolicited 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, expressed concern for investors in GRAPHITE stock, an issue that is
currently undergoing a third aggressive promotion campaign, seemingly to
divest insiders of stock, in what is commonly known as a Pump and Dump scheme.
As virtually all of GRAPHITE stock was recently held by just a few
individuals prior to the commencement of the first promotion 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 have already experienced
under the previous GRAPHITE campaigns commenced last December and February,
respectively.Since December 2012, investors in GRAPHITE shares have absorbed
losses of as much as 80% of their initial investment, seemingly at the hands
of insider dilution.
Updates to this litigation may be viewed by following Mr. Sharp's tweets at
CONTACT: George Sharp
Press spacebar to pause and continue. Press esc to stop.