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SEC investigates fake Twitter story

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In the vast space of the Twittersphere, amidst increasing limitations on content policies and clampdowns on trolls – due to a mass of parody and unverified accounts lies a minefield of potential litigation death traps.

Given the rate at which stories travel and influencers act online with the potential to reach the masses in a series of characters and minutes, Twitter, Facebook and Instagram have a history of providing verification for the more influential accounts and handles.

Twitter is increasingly being pressured to look all accounts when the repercussions involve not only damage to pride but pockets as well.

In July, the SEC announced that it would take the appropriate steps to investigate a fake story published on Bloomberg.market’s Twitter handle and whether the writer’s of said story sought to gain financially by manipulating public opinion and causing a sharp fluctuation in the company’s’ share price. The story claimed that Twitter had received a $31 billion buyout offer. Because of which, shares for the social media platform surged.

The falsified Bloomberg report (Bloomberg only use the Bloomberg.com URL to publish stories) was a primary example of how false content on the internet can not only impersonate a person or account, manipulate and influence people but also markets – a growing worry as we increasingly depend on a virtual reality.

Role of WebPreserver

WebPreserver is an innovative eDiscovery tool, essential for the effective and easy creation of evidence from social media and preservation of digital content for litigation purposes; an essential cost and time effective tool for legal professionals, litigation support and law enforcement officials.

With the easy installation of a Plug-in and single-click capture technology, WebPreserver software creates snapshots of evidence from any content place in the internet and stores them in PDF and WARC formats for use in litigation. Digital content is authenticated in line with Federal Rules of Evidence, the E-Sign Act and other standards of compliance by way of a digital e-signature and automated time-stamp.

Not only is strong, reliable evidence created form online content, WebPreserver software also provides secure resources for the archiving, preservation and sharing of this content. Once a Snapshot is created, it can be downloaded or stored on our online platform and shared with clients and colleagues in personal folders, with the additional features of keyword tagging.

Ensure that when engaging in litigation you maintain a high standard of records management and technical compliance; WebPreserver is a simple but effective means of doing this. Avoid sanctions and additional administrative and Discovery costs with the proper utilization of this leading eDiscovery software.

The information and materials on this blog are provided for general and informative purposes only and are not intended to be construed as legal advice. Content on this blog is not intended to substitute the advice of a licensed attorney, as laws are subject to change and vary with time, from jurisdiction to jurisdiction. Content on this blog may be changed without notice and is not guaranteed to be complete, correct or up-to-date.

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