Farmers warned to be vigilant about 'shares scam' phone calls
Glanbia Plc has urged shareholders to be vigilant against what the company describes as 'boiler room' fraudsters seeking to scam money from investors.
Shareholders were warned to be particularly wary of unsolicited phone calls from overseas companies seeking to sell or buy Glanbia shares at inflated prices.
Glanbia said a number of shareholders had recently experienced “such unsolicited and unauthorised approaches”.
“Please be aware that companies, typically from overseas, sometimes make unsolicited contact with shareholders to buy their share or sell their share on their behalf at prices which can be significantly higher than the market price of the share,” the letter stated.
Shareholders were cautioned that these companies usually used “high pressure tactics” and sought to convince people to make a “quick decision” or risk losing out on a “large return on their investment”.