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LSDefine

Simple English definitions for legal terms

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.

body of laws | boilerplate

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General chat about the legal profession.
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ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
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