“In its prospectus, a penny stock named Caribbean Pacific Marketing proudly described itself as an “emerging growth company” when it began to sell shares to the public this summer.
To someone uninitiated to the Orwellian nature of recent legislation, that phrase might have seemed downright deceptive. As the prospectus made clear, it was not a growth company; it was barely even a company at all. It hoped to start a business with the proceeds from the offering.”
Read Floyd Norris’s full New York Times article here