NanoViricides Inc. (NNVC)

[arvitar]

No, there is no problem with the one and only definition of securities fraud:

"Securities fraud, also known as stock fraud and investment fraud, is a deceptive practice in the stock or commodities markets that induces investors to make purchase or sale decisions on the basis of false information,"


When Seymour and Diwan told investors to rely on their fictional, physically impossible (and hence, false) timelines that were contrary to the information provided by the FDA, they committed a deceptive practice that induced investors to purchase NNVC on the bases of false information.

It's a theoretical discussion though. Seymour and Diwan already made their millions through their deception. Now it's all about running out the clock, so they can spend the rest of their lives enjoying their wealth, courtesy of the NNVC shareholders they duped with their too-good-to-be-true story.