The sometimes seamy practice of paid-for research
Between May 14, 1999 and December 4, 2000, Christina Skousen, a 49-year old resident of Novato, California, wrote research reports on eight micro-cap companies. Appearing at a time when equity valuations were soaring, the reports were on the bullish side. Seven of them contained revenue projections that exceeded the companies' most recently reported revenue figures by more than 200,000 percent. On February 22, the Securities and Exchange Commission filed a federal court action against Skousen
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