Stratton Oakmont was a Long Island

Long Island

Long Island is an island located in the southeast part of the U.S. state of New York, just east of Manhattan. Stretching northeast into the Atlantic Ocean, Long Island contains four counties, two of which are boroughs of New York City , and two of which are mainly suburban...

, New York

New York

New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...

, "pump and dump

Pump and dump

"Pump and dump" is a form of microcap stock fraud that involves artificially inflating the price of an owned stock through false and misleading positive statements, in order to sell the cheaply purchased stock at a higher price....

" boiler room

Boiler room

* A boiler room is a room where a boiler is kept, it may also refer to:* Boiler room , building's mechanical room* Boiler room , ship's engine room...

 brokerage house founded by Jordan Belfort

Jordan Belfort

Jordan Belfort is an American author, motivational speaker and former white collar criminal who spent 22 months in jail for offences related to stock market manipulation and running a boiler room....

, Danny Porush, COO Steven Carter and CFO Kenny Greene that was shut down in the late 1990s. Jordan Belfort wrote a book about it entitled The Wolf of Wall Street. Belfort was convicted of securities fraud

Securities fraud

Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws....

 in 1999 and served 22 months of a 4 year sentence.

Alabama Securities Commissioner Joseph Borg

Joseph Borg (regulator)

Joseph P. Borg is an American financial regulator who has served as the Securities Commissioner of Alabama since 1994. In this position, he is responsible for prosecuting financial crimes which affect Alabama residents. He has also served as the president of the North American Securities...

 pushed the formation of a multi-state task force which eventually led to the prosecution of Stratton Oakmont after his office was inundated with complaints regarding the brokerage.

Certain websites, such as IMDb, state that there is currently a movie due to start production at some point in 2010. Leonardo Dicaprio

Leonardo DiCaprio

Leonardo Wilhelm DiCaprio is an American actor and film producer. He has received many awards, including a Golden Globe Award for Best Actor for his performance in The Aviator , and has been nominated by the Academy Awards, Screen Actors Guild and the British Academy of Film and Television...

 has been flagged to star as Jordan Belfort and Martin Scorsese

Martin Scorsese

Martin Charles Scorsese is an American film director, screenwriter, producer, actor, and film historian. In 1990 he founded The Film Foundation, a nonprofit organization dedicated to film preservation, and in 2007 he founded the World Cinema Foundation...

 is slated to direct.

See also

• Stratton Oakmont, Inc. v. Prodigy Services Co., 1995 WL 323710 (N.Y. Sup. Ct. 1995)
  Stratton Oakmont, Inc. v. Prodigy Services Co.
  Stratton Oakmont, Inc. v. Prodigy Services Co., 1995 WL 323710 , was a controversial 1995 U.S. New York Supreme Court decision which found that online service providers could be held liable for the speech of their users.-Facts:...