I spoke with a CEO who had their Company illegally listed on the Berlin Exchange twice without their knowledge or consent a few years ago. In both instances the initiator was a broker (unaffiliated with the Company), but in both cases the Company was able to have the ticker delisted and it never occurred again.
So its not simply an issue of finding out there was a WGAS listing, but also why didn't WGAS:
- issue a subpoena of the trading records of the initiator of the listing
- do anything to shut the rogue listing down when it found out (also need to establish when the company found out)
- why was there no PR issued by WGAS
- was this reported to FINRA, SEC, or State Department (to apply pressure since its a foreign jurisdiction)
Simple question for SEC and FINRA: did anyone from WGAS contact them to report any irregularity.
The paradox of iHub: buy high, sell low