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Fake Press Release Costs Mining Company $300 Million

29
Jul
2014

An anti-coal campaigner sent a press release to journalists and media organizations in Australia purporting to be from ANZ bank and claiming that the financial institution would not lend the mining company Whitehaven Coal the money it needed for expanding its operations. The result of the hoax was disastrous for the mining company, as the share market value dived by AUD 314 / USD 295 / 219.6 million. The incident occurred in January, 2013, and on July 25, 2014, Jonathan Moylan, the hoa…

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