Businessman claims invisible Spray on condom: $400,000 fines for misleading investors

Whenever it comes to condoms, many people are always looking for the best protection and maximum feel and a businessman new this when he made a claim to of invented an invisible spray on condom.

Now for misleading his investors, this very businessman faces fines of up to $400,000.

There are apparently two “misleading” statements to the Australian Stock Exchange dated September 29 and 27, 2005.

These misleading statements have led to The Australian Securities and Investments Commission’s proceedings against Mr. Narain and Citrofresh (the organic anti-bacterial product company).

For Citrofresh stating it could “offer a global solution to reduce and eventually stop the spread” of HIV, the Court declared Citrofresh had engaged in misleading conduct.

So does this mean that the product works and they just made a few statements out of context?

Read story in more detail

READ MORE:

0

DISCUSS

SHARE

Related News and Information

1. 20 Language Talking Translator: 400,000 words and 46,000 sentences
2. New Jersey third state to Enact Anti-Global Warming Law
3. Antibacterial Pen Mouse
4. New Honda Accord hoping to sell over 400,000 of these flagship cars