Fake Press Release Causes IMAX Shares to Surge

In today’s pre-market, shares of IMAX (IMAX) rose as much as 6% on the news that it was being acquired by Disney. There’s one problem. It’s not being acquired by Disney. The press release was a scam.
Whoever did, just cut and pasted the press release for the Marvel purchase and added the name IMAX. Smart move! They also added this sentence, “If you can get in at a good price tomorrow morning at the open, it maybe something to ask the advise of your broker on.” Gee I wonder what gave them away.
I’m guessing now they better seek the advise of their lawyers.

Posted by on September 30th, 2009 at 2:29 pm

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