No, Local.com Is Not Being Acquired By Microsoft; Second Fake News Release This Week - Eric Savitz (Barron's)

Sign Up | Log In | What is SocialPicks?

No, Local.com Is Not Being Acquired By Microsoft; Second Fake News Release This Week
Oct 02, 2009 12:18 PM UTC

Eric Savitz (Barron's)

Percentile Score: N/A

Tracked Blogger

Profile & Performance

Subscribe to author

Symbol	Sentiment	Start	Return	Closed
LOCM	n/a
MSFT	n/a

Via BARRONS.com: Tech Trader Daily - Barron's Online:

Local.com (LOCM) announced this morning that, contrary to a false press release that has appear online, it is not being acquired by Microsoft (MSFT).

The full statement:

Local.com Corporation today commented that a false press release was issued that stated Local.com was being acquired by Microsoft. The company has not been acquired, nor is it in discussions with Microsoft about a potential acquisition.

Here is a copy of the fake release.

LOCM shares rose 37 cents to $5.76 in after-hours trading last night, and traded as high as $9.65.

This is the second instance this week of a fake release moving stock prices; a similar incident recently briefly drove up shares of Imax.

Read the rest of original post »

Add Comment

Be the first to comment on this story and earn 2 points.

Your Comment

IN THE PRESS

None of the information contained on SocialPicks.com constitutes a recommendation by SocialPicks or its users that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. SocialPicks is not responsible for the posts, discussions, and recommendations of the users on the Site. SocialPicks does not provide investment advice. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the website. SocialPicks' users' past results are not necessarily indicative of future performance. Neither SocialPicks nor any of its users guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the website. You understand and agree that you use the Site and Services at your own discretion and risk and that you will be solely responsible for any damages that arise from such use. Before acting on any information contained on the website, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.