the Trustworthiness of Web Sources
asked me how I felt about the myth that too many citations too quickly would be something that might get a site penalized.
My Answer: It's quite possible that the value of citations has something to do with how trustworthy the source of those citations might be. This paper from Google describes how to gauge how trustworthy a web source might be. If a business accrues a lot of citations from trustworthy sources, it is quite possible that the business would be fine.
If you haven't read it, it is worth going through.