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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

Penny stock promoters sue E*Trade for racketeering originally appeared on BloggingStocks on Thu, 06 Dec 2007 18:23:00 EST. Please see our terms for use of feeds.

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