All of the following is quoted from documents filed in this case stemming from the alleged misappropriation of some stock promoters’ email lists: OTC Solutions LLC , Golden Dragon Media Inc, and Pudong LLC v. John Does 1-50 (link to Justia summary).
First, check out the original complaint from June 29th, 2010.
Each Plaintiff has numerous lists (“Subscriber Lists”), comprising anywhere from 25,000 to 65,000 subscribers. Each list has grown as a result of significant marketing efforts by Plaintiffs, which includes Internet-based advertising costs in excess of $30,000 per day. Each Plaintiff has numerous lists (“Subscriber Lists”), comprisinganywhere from 25,000 to 65,000 subscribers. Each list has grown as a result ofsignificant marketing efforts by Plaintiffs, which includes Internet-based advertising costs in excess of $30,000 per day.
That is a pretty impressive list size, and by my count the pumpers named above have 20 different websites between them that are currently functioning (I am sure they have others that I am not aware of). Advertising costs of $30,000 per day translates to $10.95 million per year. That number seems high relative to the amount of compensation disclosed in these pumpers’ emails.
I will blog more on this lawsuit. Please leave a comment if you have any clue what happened to it though. The most recent update in PACER was from last December and nothing was filed to close the case in any way. Please check out most of the important filings on this case, which have been uploaded to Scribd.
One thought on “Some facts about how stock promoters Golden Dragon Media & Pudong LLC work”
Awesome research project. Yeah if $10M/year then the money is coming in somewhere, they’re not doing this to lose money. Glad to see you blogging again.