SEC suspends high-rising stock over suspected manipulation

The U.S. Securities and Exchange Commission temporarily suspended the stock of NeuroMama Ltd. because of suspected manipulation.

The Playas de Rosarito, Mexico-based internet portal and search engine's shares have risen more than 300 percent this year, valuing the company's over-the-counter stock at $34.4 billion.

In suspending NeuroMama’s stock, the SEC cited concerns regarding the accuracy of information in the marketplace about the company, identity of the people in charge, false statements that the business has a pending application for the Nasdaq and alleged manipulative transactions.

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