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April 11th, 2004
Concerns That Nanotech Label Is Overused
What exactly is nanotechnology? The definition is no longer academic as more investors become attracted to anything that carries a nanotech label. On Thursday, Asensio & Company, an investment firm, faxed a letter to Eliot Spitzer, the New York attorney general, charging that misuse of the nano label has become a favorite tactic for fraudulent stock promotion. Asensio asked Mr. Spitzer to investigate Merrill Lynch for including many companies that have little or nothing to do with nanotechnology in an index of 25 publicly traded nanotechnology companies that Merrill introduced on April 1.
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