Jerome Armstrong Settles SEC Stock-Tout Suit

I filed a story this morning on Watching the Watchers about blogger Jerome Armstrong settling his stock-tout suit with the SEC:

Influential liberal blogger Jerome Armstrong, the founder of MyDD and an originator of the netroots movement, has agreed to pay $29,000 in fines and penalties to settle a 2003 SEC suit accusing him of touting a stock on Internet message boards without disclosing his financial interest in the company.

Some of my fellow liberals threw me under the bus for digging into the allegations last year, but it's the kind of ethical transgression we'd be all too happy to expose against someone with an "R" next to his name. Shilling stocks without disclosing your interest in the companies is a big deal.

The Twenty First Century Democrats, a group that gave Armstrong the Wellstone Award for Political Organizing in April, appear to agree. The group has removed all references to Armstrong from its web site, including his photo and the announcement of his award, which was cached by Google July 20.

| politics | business | 2007/08/09 10:51 AM | 4 COMMENTS

Comments

This is why I love you, Rogers. Well, this and your sweet, sweet can. This kind of thing is way, way riskier for a liberal than a conservative, making you a brave fellow. You make Audie Murphy look like Moby in a tutu.

# 1 | Uncle Mikey | 2007-08-10 07:05 AM | link

After some consideration, I'm not really comfortable with the Audie Murphy/Moby thing. How about I just say you make Atilla the Hun look like a faggot?

# 2 | Uncle Mikey | 2007-08-10 02:52 PM | link

"Some of my fellow liberals threw me under the bus"

At least they didn't throw you under the short bus.

# 3 | cirby | 2007-08-10 08:55 PM | link

That would be fine, Mikey.

I had an interesting, off-the-record conversation with a reporter about Armstrong yesterday. There appears to be a growing amount of dissatisfaction with the situational ethics of our left-wing blogging overlords.

# 4 | Rogers Cadenhead | 2007-08-11 10:23 AM | link

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