Due to a loss of clients and reputation amid a slew of widely-publicized fraud allegations, offshore broker Lines Overseas Management claims to be scaling back its activity in U. S. penny stocks.
Effective June 30, 2005, LOM Holdings Limited says the group will “dramatically curtail client activity in the US bulletin board and pink sheet over the counter market”.
LOM announces ‘withdrawal’ from penny stock market
19 years ago
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Agora, Inc. Frank Porter Stansberry Lines Overseas Management Pirate Investor LLC