When a company speaks of oil and gas drilling it is likely that sparkles will light in many investor eyes. More experienced traders, however, will know that its a double-edged sword. This can be said for certain in the case of Eco Trade Corp (PINK:BOPT
, BOPT message board
So much effort is put in the promotion of BOPT stock that it has had a negative effect on it. We guess the idea was to compensate for the big drops in price on April 10 and April 12, however, it just worsened the situation. At the moment BOPT's stock has dropped so much that it is being traded at $0.05 compared to $0.45 at the beginning of April.
The pump campaign started April 14 when we received the massive amount of 44 promotional emails. On April 15 the emails were lowered to half of that but that's still a lot. This obviously is the reason for a lawsuit being filed against BOPT as additional defendants alongside Internacional Publizierende Gruppe Limitada for violations of California Business and Professions Codes 17529.5 (Anti-Spam).
The Plaintiff is one Mr. George Sharp who apparently received numerous of emails touting BOPT, just like us. He even claims that after he opted out of the promotional emails they just kept coming in his inbox. The bad news is that Mr. Sharp has a long history of successful lawsuits against companies that try to manipulate their stock prices through promotional emails and press releases.
It just seems that this "vigilante" really knows his rights and he is someone you wouldn't want against you. The latest press release from BOPT claims that Mr. George Sharp is acting in contravention to a settlement agreement that ended with a mutual release executed on June 2, 2010. Also they say that they are suspecting him of shorting the stock.
However, looking at Mr. Sharp's past one would think that he simply has no reason to do so. He just seems to be after justice and his goal is to protect people who want to invest their money in shady companies. A prime example of his previous success is the lawsuit against Victory Capital Holdings Corp (VTYC) currently known as Victory Energy Corp (VYEY) of which Mr. Sharp was former CEO. It was about shady dealings under the new CEO of the company Jon Fullenkamp and ended with Sharp winning the lawsuit and being compensated $207,518.07.
With all that said and looking at the facts that we brought to your attention in our previous article about BOPT we can say that they are a really risky investment choice and people who consider investing their hard earned money should step cautiously and do their research before hopping on their train.