The Alberta Securities Commission (ASC) is warning investors of a securities promotion website that appears to be part of a “pump and dump” scheme. A pump and dump involves individuals who heavily promote or “pump” the purchase of specific company stock to drive up the price of the stock. The individuals involved in the promotion then sell or “dump” their shares at the increased price and stop promoting the stock, which leaves other investors with stock that is worth far less than what they initially paid for the stock.
ASC staff are concerned that Liberty Analytics is a sister site of Skymark Research. The principals behind the Liberty Analytics site appear to be the same as those behind the Skymark Research site and the Emerging Stock Report site. Skymark Research and some of its employees are subject to an ASC Interim Cease Trade Order that was granted August 20, 2010 and extended September 3, 2010. Copies of the Interim Cease Trade Order and Extended Interim Cease Trade Order, can be found on the ASC website at www.albertasecurities.com
To help protect investors, ASC staff ask that anyone who has been contacted by someone claiming to represent Liberty Analytics to contact the ASC Public Inquiries Office at 403-355-4151 or 1-877-355-4488.
For more information on Pump and Dump schemes and how to Check First before you invest, visit the For Investors section of the ASC website at www.albertasecurities.com
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
For further information please contact:
For Media Inquiries: Mark Dickey
Senior Communications Advisor
For Investor Inquiries: ASC Public Inquiries
Toll Free 1.877.355.4488