ATLANTA, Dec. 7, 2009 (GLOBE NEWSWIRE) -- OTC Stock Review has issued an updated report on GetFugu, Inc. (OTCBB:GFGU). On June 30, 2009, OTC Stock Review issued a press release announcing coverage of GetFugu, Inc., which was trading at $0.16. Our report alerted investors to GetFugu, Inc. before the stock price reached a high of $1.43 on September 4, 2009. We see another opportunity for investors as GetFugu, Inc. recently announced it filed a lawsuit against several individuals for trade libel, defamation and other claims arising out of an alleged smear campaign against the Company and its executives.
In our opinion, the lawsuit filed September 14, 2009 by GetFugu and its President, Carl Freer, could explain the recent weakness in GetFugu's stock price. GetFugu claims the misleading tactics employed include anonymous Internet postings styled to look like legitimate press releases, and fraudulent message board postings utilizing fake pseudonyms. Defendants' activities appear to be part of a concerted bad faith effort to artificially deflate the Company's stock price. On December 2, 2009, despite announcing an agreement with Summit Entertainment, to provide GetFugu's next generation mobile search platform for the Studio's feature film, "The Twilight Saga: New Moon," GetFugu's stock dropped more than 13%. We believe that with the Company's successful product launch, investors can now benefit from the commercialization of GetFugu's ecommerce platform.
GetFugu, Inc.'s revolutionary "See It, Say It, Get It" technology is the first carrier agnostic, platform agnostic mobile search platform. GetFugu will change the way people access the web with their mobile phones. It is designed to facilitate and encourage users by integrating the mobile phone's core strengths -- image, voice and location recognition -- into a single customizable application. Additionally, GetFugu offers the only mobile ecommerce platform available worldwide today. The GetFugu platform will soon be available for 97% of the mobile phones available (over 3.3 billion handsets) worldwide.
To download our updated report on GetFugu, please visit: http://www.otcstockreview.com/Files/GFGU/GFGU_Review.pdf.
Additionally, more information on GetFugu, Inc. is available at http://www.getfugu.com.
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