Rvplus, Inc. (fka RVPL)

[scion]

V. PETERSON’S PSEUDONYMOUS POSTS ON INVESTORSHUB.COM

146. InvestorsHub.com, a website, describes itself as a “forum for serious investors to gather and share market insights in a dynamic environment using an advanced discussion platform” (emphasis in original).

147. In 2012 and 2013, InvestorsHub.com hosted a message board dedicated to RVPlus (the “Message Board”).

148. From October 7, 2012 through July 30, 2013, Peterson made at least 127 posts on the Message Board. Each time, Peterson used the screen name “dick_schmidt.”

149. In his posts, Peterson claimed to “live in Boston” and to be an RVPlus shareholder who was buying RVPlus shares in the public market and holding the shares because of their value.

150. Peterson’s posts routinely touted RVPlus’s stock.

151. For example, on October 10, 2012, RVPlus’s stock opened at $0.40 per share.

152. That day, as described in paragraph 98 above, Peterson emailed the Nigerian government to inform it that ECCO2 would delay delivering on its promises of providing goods and services under the Nigerian Memorandum.

153. The same day, Peterson posted on the Message Board. He claimed that the value of the Purported Nigerian Agreement made RVPlus stock worth “over $10 a share 1:1. Even only counting first year’s contract revenue it should be over $2 a share. Way under valued [sic].”

154. Five days later, on October 15, 2012, RVPlus’s stock again opened at $0.40 per share.

155. The next day, Peterson again posted on the Message Board. He forecasted: “@ RVPL $1 share price by next month. I agree. Probably higher.”

156. When investors expressed concerns about RVPlus or its stock, Peterson repeatedly posted messages suggesting that certain false statements in RVPlus’s filings and press releases must be true.

157. For example, when investors voiced concerns about the validity of RVPlus’s financial statements, Peterson claimed that “Fed filings don’t lie” and advised other shareholders: “I would buy up as much as possible.”

158. On July 19, 2013, soon after the Commission issued an order suspending trading in RVPlus’s securities, Peterson posted that “the CEO and company can file the necessary forms needed to be back on track around the same time they are filing their 10k so not a total loss.... They could file everything and be back to trading by this time next month.”

159. In a later post on the same day, Peterson posted that “[f]alsifying $17 mill on books and $1.9b in contracts would be suicide.”

160. On July 24, 2013, Peterson continued to defend RVPlus’s purported agreements and financials. He posted: “8K Contracts are extremely valid. Each 8K contract was with a federal government agency. Each party in contract is either a affiliate [sic] of UN or some Ministry or something or office of Foreign affairs…. If they contracts [sic] were bogus the CEO would have detained the CEO or whoever was responsible for faking something this extreme…. Let’s use our common sense here.”

...
more
https://www.sec.gov/litigation/complaints/2016/comp-pr2016-53.pdf