Filed under: Law

Sebastian River Holdings, a penny stock company, says it is suing E*Trade Financial Corporation (NASDAQ: ETFC) for “collusion amongst E-trade and its employees to unlawfully, manipulate the company’s stock.” The penny stock company also said that it would be “…suing under the civil section of the Racketeer Influenced and Corrupt Organizations Act (RICO).”

Sebastian River Holdings also accuses E*Trade of freezing customer accounts and not allowing “investors” to buy shares of Sebastian River Holdings.

Why wouldn’t E*Trade want its clients buying Sebastian River stock?

Continue reading Penny stock promoters sue E*Trade for racketeering

Permalink | Email this | Comments

Share This

This entry was posted on Friday, December 7th, 2007 at 3:20 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.