businesswire

Businesswire.com and lawyers are teaming up to fool the unsuspecting shareholder.

Businesswire.com, the self-proclaimed “global market leader in commercial news distribution,” allows law firms fishing for clients to pass off attorney advertisements as legitimate news.

For example, moments after a merger is announced, class action lawfirms use Businesswire.com to announce they are “investigating the merger.” These firms are merely fishing for shareholders that they can sign up and use to sue the company being bought. As a result, the “News” section of Yahoo Finance, Google Finance, and other websites are then flooded with these advertisements. Meanwhile, Businesswire.com is profiting handsomely at the expense of shareholders collecting $400 or so for every such “news” release.

Goal: Get Businesswire.com to stop permitting law firms to use their service to publish attorney advertisements.

businesswire flooding the world with advertising

businesswire flooding the world with advertising

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