Jakob, a former employee of (Press Release) distribution service InternetWire, suffered a loss of nearly $100,000 as a result of short-selling stock in Emulex Corporation, a maker of fiber optic equipment. To cover his losses, Jacob wrote a fake release stating that the CEO of Emulex had resigned and that the company was changing its quarterly earnings from a profit to a loss. Then Jakob sent it to Internet Wire posing as Emulex publicity.
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