The Securities and Exchange Commission halted trading in shares of development stage software company Pingify International Inc. Wednesday morning due to suspicious activity by a website that pumped up the stock’s value, MarketWatch reports.
“It appears to the Securities and Exchange Commission that the public interest and the protection of investors require a suspension of trading in the securities of Pingify International Inc. because of concerns regarding potential manipulative activity in Pingify’s common stock that appears to be related to a promotional campaign currently being conducted through various Internet web sites,” the SEC order of suspension of trading reads.
