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Those press releases were also distributed by Business Wire, a paid Internet news service, and ended up on news services like Bloomberg and investor Web sites like Marketwatch.com and TheStreet.com (TSCM). The stock traded as high as $22 a share on Mar. 9 and is now trading at less than $1 a share.
''We're pleased that the SEC is helping us guard information we're distributing to consumers,'' says a Business Wire spokesman. An eConnect spokesman denies that the company has any relationship with Sayre.
FAST AND LOOSE. Once a relatively mundane communications device, a press release now has the might to dramatically drive the price of a stock...
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