Businesses with an Internet presence must be vigilant to make sure that securities laws and regulations are not violated. While this clearly applies to company-managed websites and blogs, it also means that employees and executives need to be careful about what they say in other forums, including on Twitter or third-party message boards. The CEO of Whole Foods was taken to task for a series of message board postings he had made under a pseudonym, talking down his company’s competitor, Wild Oats. When Whole Foods later acquired Wild Oats, the SEC investigated to determine whether his postings had been an illegal attempt to affect Wild Oat’s stock price. While the SEC ultimately took no action against him or Whole Foods, the incident demonstrates
