Search results
Results from the WOW.Com Content Network
Stratton Oakmont, Inc. was a Long Island, New York, over-the-counter brokerage house founded in 1989 by Jordan Belfort and Danny Porush. It defrauded many shareholders , leading to the arrest and incarceration of several executives and the closing of the firm in 1996.
Stratton Oakmont, Inc. v. Prodigy Services Co., 23 Media L. Rep. 1794 (N.Y. Sup. Ct. 1995), [1] is a decision of the New York Supreme Court [nb 1] holding that online service providers can be liable for the speech of their users.
Stratton Oakmont specialized in selling "penny stocks" and underwriting initial public offerings for small companies, including for Steve Madden (a childhood friend of Porush), [5] Master Glazier's Karate International Inc., Dualstar Technologies, [9] Select Media Communications, [9] United Leisure Corporation [9] and Questron Technology. [10]
This is an accepted version of this page This is the latest accepted revision, reviewed on 3 February 2025. American former stockbroker (born 1962) Jordan Belfort Belfort in November 2017 Born Jordan Ross Belfort (1962-07-09) July 9, 1962 (age 62) New York City, U.S. Alma mater American University (BSc) Occupations Businessman speaker author Criminal status Released April 2006 after 22 months ...
Congress passed Section 230 of the Communications Decency Act in response to the holding in Stratton Oakmont, Inc. v. Prodigy Services Co.. In Stratton, the court held the service provider Prodigy liable as a publisher, because it deleted material that it thought was offensive, but had not deleted other material that was potentially offensive. [2]
In 1995, Stratton Oakmont, Inc. v. Prodigy Services Co. further clarified Internet service providers' liabilities. Because Prodigy filtered and occasionally removed offensive content from bulletin boards that it hosted, the court held that Prodigy was a publisher of, and therefore liable for, published defamatory content.
The roots of Prodigy date to 1980 when broadcaster CBS and telecommunications firm AT&T Corporation formed a joint venture named Venture One in Fair Lawn, New Jersey. [5] The company conducted a market test of 100 homes in Ridgewood, New Jersey [6] to gauge consumer interest in a Videotex-based TV set-top device that would allow consumers to shop at home and receive news, sports and weather.
Richard Bronson, the founder of 70 Million Jobs created the company due to his inability to find employment following his imprisonment. Bronson was incarcerated for defrauding stock accounts at his over the counter brokerage house which he founded after leaving Stratton Oakmont. [1] [2] [3] The purpose of the company was aiding former felons ...