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LSDefine

Simple English definitions for legal terms

boiler room

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A quick definition of boiler room:

A boiler room is a place where people call strangers and try to convince them to buy things like stocks or services. They might lie or trick people into buying things that aren't worth it. They usually target people who don't know much about what they're selling. Some countries have laws to stop this kind of behavior, but some boiler rooms operate in other countries to avoid getting in trouble.

A more thorough explanation:

A boiler room is a type of telemarketing operation where salespeople make unsolicited phone calls to potential investors in order to convince them to invest in a particular stock, service, or product. The salespeople often use deceptive tactics to persuade people to invest, such as making false claims, exaggerating the value of the item, and downplaying the risks involved. They may also pressure potential investors to make a quick decision without doing any research.

For example, a boiler room might call someone and tell them that a certain stock is about to skyrocket in value, even though there is no evidence to support this claim. The salesperson might also tell the person that they need to act quickly in order to take advantage of this opportunity, even though there is no real urgency.

Boiler rooms are illegal in many countries, including the United States. The Securities and Exchange Commission has rules in place to prevent broker-dealers from engaging in deceptive practices, and the Penny Stock Reform Act requires penny stockbrokers to disclose certain information to potential investors. However, some boiler rooms operate outside of the country they are targeting in order to avoid legal consequences.

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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