Today XUMANII (XUII) crashed following the release of a lawsuit put forth by George Sharpe. Mr. Sharp alleged that the promoters were in violation of anti-spam laws.
According to the
article on yahoo:
Named as defendants in the case are: Degroupa Tenner Morales Media Corp.
and Centro Azteca S.A., the current and former publishers of the
Awesome Penny Stocks series of newsletters; and, Victory Mark Corp Ltd.,
the publisher of newsletters Select Penny Stocks, Preferred Penny
Stocks and Penny Stock Heroes.
The problem is, I don't think any of the promoters actually are in violation of the anti-spam laws. Their subscribers voluntarily sign up for the alerts, and all of the emails come with links that allow you to unsubscribe. Consequently, I don't expect the lawsuit to stick or the pump to be over yet. As I write this, it is already on its way to at least partial recovery. While I'm not confident enough to buy this myself, I think it's more likely than not that it will return to the .40s tomorrow. That being said, if you're unfamiliar with the nature of pump and dumps, and you're reading this because you are completely confused by what has happened today, I advise you to close your position. This stock already has too many red flags even before you start looking at fundamentals.
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