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1. Dendreon Shares Rise on Hoax Press Release
By Adam Feuerstein
9:59 a.m. EDT
Dendreon (DNDN) shenanigans: Yesterday at 12:56 p.m., someone posted a phony press release on the company's InvestorVillage.com message board claiming that the FDA granted "fast track" status to Dendreon's prostate cancer drug Provenge. The phony press release was dated May 6, 2009.
The date stamp one day in the future was a quick tipoff that this was a hoax press release, as was the fact that FDA granted Provenge fast track status in 2005.Still, the fake got the job done for whoever posted it. Dendreon's stock price went from $21.83 to $22.33 in a bit more than an hour after the fake press release was posted to the IV message board -- more than enough for a quick trade. No positions
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