Wow! This posted email combined with the others proves clearly that Derek Hall a Saleen Automotive employee, is releasing confidential Saleen Automotive information to specific investors in advance of filing their required 8-K & 10-K (which are Delinquent) to the SEC and public shareholders.
I believe that this release of information falls under the category of Insider Trading (see below). The penalties, fines and legal fees could be staggering (see below). Look out.
If that does not do enough damage, the civil suits against Saleen Automotive from shareholders who did not receive this information advantage and lost value in their shares can also file lawsuits to recover their losses (Not all SLNN shareholders trade from this site).
If you care at all for Derek Hall at Saleen Automotive, you might want to let him know that he is now exposed very clearly to an SEC investigation by providing you with this confidential information that was then posted on this investor website. All the information required as evidence for an investigation are on one screen print.
Have fun trading tomorrow. If you realize any gains from the buying or selling of SLNN shares it may come at a big cost later.
Definition of Insider Trading:
Insider trading is the trading of a public company's stock by individuals with access to nonpublic information about the company. This is because it is seen as unfair to other investors who do NOT have access to the information, as the investor with insider information could potentially make far larger profits that a typical investor could not make.
"Insider trading" refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security. Insider trading violations may also include "tipping" such information, securities trading by the person "tipped," and securities trading by those who misappropriate such information.
PENALTIES; SANCTIONS
General. Violation of the prohibition on insider trading can result in a prison sentence and civil and criminal fines for the individuals who commit the violation, and civil and criminal fines for the entities that commit the violation.
TherapeuticsMD, Inc. (the "Company") can be subject to a civil monetary penalty even if the directors, officers or employees who committed the violation concealed their activities from the Company.
Criminal Penalties. The maximum prison sentence for an insider trading violation is now 20 years. The maximum criminal fine for individuals is now $5,000,000, and the maximum fine for non-natural persons (such as an entity whose securities are publicly traded) is now $25,000,000.
Civil Sanctions. Persons who violate insider trading laws may become subject to an injunction and may be forced to disgorge any profits gained or losses avoided. The civil penalty for a violator may be an amount up to three times the profit gained or loss avoided as a result of the insider trading violation.
