Legal-seeming spamMuch stock-spam email is illegal because it violatesSection17(b) of the Securities Act of 1933, which bars people from promoting stocks for pay without disclosing their compensation.
Yet much of the new penny stock spam goes to great lengths to comply with the law -- or at least toseemlegal. One recent stock-touting email measured a robust 1,204 words, 700 of which were devoted to an ostensible legal disclaimer.
We decided to decode that 700-word disclaimer to help translate the legalese. Note: All offset text is from an actual penny stock email received in mid-February 2012. The "Translations" are our own.