HPIL Holding is refuting the contents of what it says was a "fraudulent" news release, and has contacted the FBI about the incident.
A news release posted through Accesswire indicated that HPIL had received an acquisition offer from Telesun Technology to acquire the company for 1 cent per share. The release included a purported quote about the transaction from HPIL Chairman and CEO Nitin Amersey.
But the company in a statement said it has no knowledge of any such offer and stressed that its CEO has made no statement about an acquisition offer. The allegedly fraudulent news release appeared March 8 and was removed the same day.
Amersey in the genuine release said the HPIL may not have been the only company targeted by this scheme, saying two or three other firms may also have been victimized.
"We will not let this incident deter us from moving ahead with our business ventures and plans," he said.
