Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
AlanC -
Your'e not calling Tracy a scumbag and a criminal, are you?
About the Author
Tracy Coenen
Tracy Coenen is a forensic accountant and fraud examiner in Chicago and Milwaukee who investigates white collar crimes, including cases of financial statement fraud, embezzlement, tax fraud, and insurance fraud. She is the author of Expert Fraud Investigation and Essentials of Corporate Fraud and more than 100 articles on fraud featured in industry publications.
http://www.sequenceinc.com/index.php?option=com_content&view=article&id=389&Itemid=53
Two points:
Point #1 - I suggest there are far more incidences of stock PROMOTION than there is "paid stock bashing".
Much more lucrative for a share price to increase than it to decline. A share price can only crumble 100%, but it can see 1,000x percent gains over a week. For instance, several penny stocks were labeled as "Float Lock Downs" (FLD) recently, and one in particular went from .7c to 70c in just weeks. That's a 9,900% gain! However, if shorted from the top at 70c down to .01c (this equates to trip zeros, mind you--$0.70 down to $0.0001) best ROI is 99.99%
9,900% vs 99.99%
Now throw in the elusive "NSS Theory". Costs the mysterious and shadowy NSSers nothing right? Well, when do they get to "cash in" on their 100%? I guess they supposedly did when the Enrons, Lehman Brothers, and Bear Stearns of the world folded up shop.
9,900% vs 100%
But what is the profit margins when they have to go tally up all the stock bashers salaries, working day and night. What's the going rate again, 5c ($0.05) per post? But wait, don't forget the overhead for the person that actually has to go out and verify each and every post to calculate the bashers' paychecks. Talk about a boring job.
I suggest, 1,000x percentage gainers happen 1,000x more often than the total collapse of a company. There is another penny stock being labeled as the "Biggest Scam of the Century" still lingering, and it's so obvious what happened and will become more so when all the court documents become publicly available, it's truly maddening!
Point #2 - Yes, the lawsuits are frivolous when they indiscriminately add defendants that have no bearing what-so-ever to the crux of the case that involves lying (contempt), false documents, evidence destruction, concealing of witnesses, and obstruction of justice. There is yet another penny stock where a lawyer chose this course of action, and is facing possible disbarment!
A close third point for you:
nothing against the law as long as libel doesn't occur
Not proof of anything.
Just an example of where a FRIVOLOUS lawsuit actually played out (rather than being dropped altogether) against a public company trying to strong arm "Main Street". Another counter-suit one is ongoing with a NY Law Firm and it's questionable involvement with another company currently going through Chapter 7 proceedings and a SEC/DOJ investigation/lawsuit (both clvi and criminal proceedings).
Libel is only libel if there is malice and an intent to cause harm--knowingly and intentionally.
Having negative sentiments or opinionated views on a particular topic is still protected under the US Constitution and the Bill of Rights.
For example--the "NSS Theory" is the #1 Tactic (and red flag) of OTCBB/Pinksheet scam companies, closely followed by SLAPP-style lawsuits.
Thought we we're talking about the unremarkable charts!
It's odd that so many MMs are willing to be complicit in the "NSS Game" by allowing counterfeit stock to enter the public trading realm, when regulators can come in at any time for an audit.
Seriously. If this is so easy to spot, you would think tons more would be busted on a daily basis!
That is a strange ~*pattern*~.
This is a decent board.
I appreciate it allowing the opposing side to counter-argue the NSS theory.
Worst case from here = 96% loss (.25c to .01c)
504s can't really profit much at these levels...bottom calling?
NO. NOT YET!!!
SOLD?!?
Slapping the ASK, LION! Slapping 'dat ASK!!!
Just supporting your neighborly 504s that came out again today! All 6 million of them!
haven't you been reading my posts?
Looking for the WNBD DOUBLE!!!
Extreme "in depth" analysis, huh?
They are quite "likeable"!
So, anyone ready to watch the Final Four?
I'm looking forward to the #1 NSS case out there to finally be exposed! Sometime in April, right? From what I understand, the Chapter 7 auction is only days away too!
I have a difficult time associating the daily FINRA data being provided to anything, really.
Yet, this is the very foundation of the "games" being played...
Apparently, the NSS THEORY is the #1 tactic scam microcaps employ to promote their publicly traded securities.
I find it funny, how the ~*pattern*~ of those companies that claim NSS, actually turn out to be the culprits themselves, resulting in insiders most likely being fined, arrested, or jailed.
I have yet to see any NSS claims come to fruition. Patrick Bryne's case is the one and only that actually may manifest into something...otherwise, in my opinion, NSS is a "scam tactic" closely followed by SLAPP lawsuits.
Double standard here?
Are you telling me I cannot post in opposition to your February 15th posts?
Why were they permitted to stay then? I do not understand why those two posts were allowed, and I'm now being told these are "Off Topic"!
A new form of lawsuit called a "CyberSLAPP" suit is threatening to overturn the promise of anonymous online speech
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=59943122
well shucks ..
you mean folks might have to be held accountable
for what is put out there .. hmmm
since exactly when did freedom of speech enable
entities to libel .. malign and slander?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=59943274
This is a relevant board, isn't it?
The "games" microcaps play with filing SLAPP lawsuits is a tactic well regarded here, is it not?
I'd be more than happy to point that out, if you'd prefer.
Why?
That is factual information. He was involved and later brought up on further charges.
Tracey, on the other hand, she was able to overcome the insurmountable odds of winning an anti-SLAPP lawsuit from a company obviously using shareholder's money filing a FRIVOLOUS lawsuit on the attack of FIRST AMENDMENT RIGHTS!
People have risen up, fought and died for the Constitution!
When's the last time you heard someone died for a free market?
http://www.sequenceinc.com/fraudfiles/2010/08/16/another-reason-why-more-anti-slapp-legislation-is-needed/
Another reason why more anti-SLAPP legislation is needed
Posted on August 16th, 2010
Michael Tanczyn of Medifast
Medifast General Counsel Michael Tanczyn, Esq. at the deposition of Sam Antar. (click to enlarge)
UPATE: On February 17, 2010, Medifast Inc. filed suit in US District Court, Southern District of California, alleging defamation, violation of California Corporations Code, and unfair business practices. On March 29, 2011, Judge Janis Sammartino dismissed all of Medifast’s claims against me in her ruling on my anti-SLAPP motion.
I am currently on the receiving end of a SLAPP suit, thanks to my good friends at Medifast (NYSE:MED) and their scam-like pyramid-like multi-level marketing division Take Shape For Life (TSFL).
SLAPP = Strategic Lawsuit Against Public Participation
It goes like this… Someone criticizes your company. You get mad. You decide to use your millions or billions of dollars to shut them up. But more importantly, it shuts up anyone else who would dare to criticize you or your company, lest they should also be on the receiving end of a lawsuit they can’t afford to fight.
The case bringing attention to SLAPP suits today involves real estate developer H. Walker Royall, who got mad about a book written on one of his projects. He sued Carla Main, the author, and her publisher, a guy who wrote a blurb praising the book, someone who reviewed the book, and the newspaper that printed the review.
The article about this crazy lawsuit does an excellent job of explaining SLAPP suits and why more legislation protecting those sued is necessary:
SLAPP plaintiffs use the court system to bury opponents in a crush of legal fees and paperwork of Bleak House proportions. They are not about winning damages. They usually don’t expect to be successful, and their targets often don’t have the money to defend the case. For the wealthy like Royall, and corporations equipped with teams of lawyers and swollen legal budgets, the cost-benefit analysis is easy: Foot the expense of a lawsuit through whatever means available — usually a defamation or libel claim — and enjoy the benefit of intimidating current and future critics into silence.
Anti-SLAPP motions in cases such as this generally stop the litigation process all together and force the plaintiff to prove a probability of prevailing – - before the enormous costs of the discovery process begin. In Texas (where this suit is), however, this type of motion isn’t available and the defendant is left to deal with all the legal expenses immediately.
Not many states have anti-SLAPP laws. That’s why a federal anti-SLAPP law would make sense.
In California, where Medifast filed suit against me and my co-defendants, anti-SLAPP motions are supposed to stop the process immediately. In my case, however, the judge made the unfortunate decision of allowing Medifast to conduct discovery before responding to our motion, as the law requires.
What’s so amusing about this is the fact that Medifast asked the court to allow discovery because they couldn’t possibly respond to our motion (i.e. prove their case the way the law requires) without first doing discovery.
Hello! This is the whole point of anti-SLAPP legislation…. to force plaintiffs to know what they’re doing before they file suit against an innocent defendant. In this case, Medifast alleges defamation… that the defendants said untrue things about the company. The defendants did, indeed, discuss facts and figures about Medifast and their TSFL “coaches.” And pray tell, who is in the best position to know if those facts and figures are true or false? Medifast, of course.
Nonetheless, Medifast successfully argued to the judge that it had to conduct expensive and time-consuming discovery against me before they’d know if they could actually prove their case.
I already know the answer to the question: Medifast can’t prove their case against me because they have no case against me. Everything I wrote about the company was either:
a. A simple reprint of what other authors wrote about the company, posted on my site to give consumers a chance to read it and draw their own conclusions.
b. Absolutely true.
c. A statement of opinion protected under the First Amendment of the United States Constitution.
To make things interesting, Medifast added in allegations of some vast conspiracy between the defendants to harm the company.
I know the answer to that question too: I was not involved in any conspiracy. Working with colleagues on a project of mutual interest does not automatically create a conspiracy. Medifast has zero evidence of my involvement in any conspiracy because no such evidence exists or ever existed. There is no conspiracy.
And now that Medifast has had the benefit of discovery, and has seen from more than a thousand pages of documents I produced that there is neither a conspiracy, nor any defamation, they should quickly drop me from their suit, right?
Wrong. They have to make sure that no one dares to speak out about Medifast and criticize its business model again. The only way to do that is to continue to drown the defendants in legal fees and the burdensome process of litigation. That will teach us a lesson… and everyone else, too!
Let me help refocus some more:
"Total vindication ... SLAPP suit"
Names are not important; concept is.
Concept = FRIVOLOUS Lawsuits against FIRST AMENDMENT RIGHTS!
America's very core document, THE BILL OF RIGHTS, is under attack!
I could care less about him. Did you overlook the title?
In case you did, let me help:
"Total vindication for Tracy Coenen in SLAPP suit"
I know. PhDs and US Naval Retirements!
Despicable liars!
Medifast “Take Shape For Life” Lawsuit: Total vindication for Tracy Coenen in SLAPP suit
Posted on March 29th, 2011
http://www.sequenceinc.com/fraudfiles/2011/03/29/medifast-take-shape-for-life-lawsuit-total-vindication-for-tracy-coenen/
More than a year ago, Medifast Inc. (NYSE:MED) sued me, my company Sequence Inc, Barry Minkow, his company Fraud Discovery Institute, Robert FitzPatrick, William Lobdell, and an anonymous message board poster for defamation. Barry Minkow and FDI initiated an investigation of the company in 2008, and the rest of us researched the company and contributed our opinions to FDI’s reports on the company and its multi-level marketing division Take Shape For Life (TSFL).
We criticized the company and its MLM business model. We expressed negative opinions about the disclosures Medifast makes about this “business opportunity.” I dared to suggest that Medifast might be a weight loss pyramid scheme.
A year after the first report on the company was released by FDI, Medifast sued us for $270 million, alleging defamation, criminal conspiracy, unfair business practices, and market manipulation. The defendants each filed anti-SLAPP motions, basically saying that Medifast was attempting to silence critics in violation of our First Amendment rights.
It was clear to me that Medifast was trying to intimidate anyone who might dare to criticize the company. Give a negative opinion of Medifast and TSFL, and you too could be subject to a malicious multi-million dollar lawsuit filed by a company with deep pockets. And don’t expect those suing you to play fair. Medifast took the opportunity to blatantly lie to the court on multiple occasions.
The defendants each filed anti-SLAPP motions in the case, requiring the defendants to prove that their activity is protected conduct (such as free speech protected by the First Amendment), and requiring the plaintiff to demonstrate a probability of prevailing on their claims.
After months of discovery and hundreds of thousands of dollars in legal fees, the process ended with oral arguments in front of Judge Janis Sammartino. In a final ruling issued today, the judge granted my anti-SLAPP motion and I am dismissed from the case.
What does this mean? The truth has prevailed. Total vindication for Tracy Coenen in the malicious lawsuit brought by Medifast Inc. The judge ruled that I did not defame Medifast, and now Medifast is on the hook for all of my legal fees, which are in the hundreds of thousands of dollars. It should be noted that Bill Lobdell, Barry Minkow, ibzreporting.com, and Fraud Discovery Institute were all dismissed from the case as well. Medifast is allowed to proceed against Robert FitzPatrick on the issue of libel per se.
While it may be true that Barry Minkow has engaged in some bad acts, I did not know about any of them and I did not participate in any of them. I was simply a consultant doing work for a client, and I stand behind the work I did. While Barry may have lied to the court, fabricated documentation, destroyed evidence, concealed witnesses, and intentionally hid information, I was not involved in any of those bad acts and did not know that they were occurring. I never engaged in any misconduct in any litigation, and I was not involved in the concealment or destruction of any evidence.
The court has ruled in the Medifast case, and I have been exonerated. It has taken a long time and a lot of money, but the judge has made it clear that I did not defame Medifast, and the company was not justified in bringing suit against me. (Analysis of the judge’s decision coming in future articles.)
http://www.sequenceinc.com/fraudfiles/2011/03/29/medifast-take-shape-for-life-lawsuit-total-vindication-for-tracy-coenen/
That's the LIMEGROVE'S GRAND OPENING!
April Fool's Early!!!
And right back down!
Good for the SPNG stuckholders, I guess!
Spiked on less than 500 shares at one cent!
STRONG! STRONG!
Not bad for signing some opinions letters, huh?
Paper trading WNBD is bad for your health just as much!
Unbelievable!!!
Non-existent proof to prove something exists?
How perplexing!!!
Accountability of Free Speech?
Can you help me find that in the Bill of Rights? I can't seem to find that anywhere.
Besides, the allegations in this lame lawsuit can easily be proven.
And I quote:
Upon information and belief, at some point during the period from early February 2011 to early March 2011, defendant Little or one or more John Doe defendants commenced a scheme to manipulate the public market for DCPI common stock and artificially drive down the price of DCPI common stock in order to obtain illicit profits on short sales of DCPI common stock.
Paragraph 11, Sentence 1.
A “short sale” is a transaction by which a person may sell shares of stock that the person does not own, but such a sale is lawful only if the person is able to borrow the same shares of stock by the time that sale is settled. Such a “short sale” is profitable only if the price of the company’s stock drops by an amount greater than the cost of borrowing the stock.
12. During February and March 2011, market data began to reveal a potential short selling manipulation scheme. In particular, market data showed that at least tens of thousands of shares of DCPI common stock had been sold short in transactions where the seller had not borrowed the stock by settlement date. A failure to comply with the borrowing requirement by settlement date may be evidence of illegal “naked” short sales and such “naked” short sales represent a “red flag” indicating the existence of a market manipulation scheme.
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7821487-11550-32492&type=sect&dcn=0001185185-11-000371
Yeah, great.
More lawsuits infringing on the Right of Free Speech!
Can't talk negatively about things without being sued these days.
Oh, wait. Yes you can. Plaintiff's have to "show cause" and that "malice" was intended and used.
This is another JOKE and FRIVOLOUS lawsuit. Most certainly a RED FLAG!
You may get one DOUBLE out of WNBD.
Otherwise, a second one from 1/2 cent to 1 cent isn't really justified.
A $20M market cap isn't substantiated with the current state of affairs. Only money WNBD is making so far is from the sale of their securities!
Nope. I like 100% gains.
DOUBLES are great. WNBD's share structure won't allow that too many times, unfortunately.
1/2 cent should be a problem. Let's hope those pesky 504s give it a rest!
Annual report right around the corner, closely followed by Q1's!
That's considered "normal trading" to some apparently.
Too bad more people don't understand the "tiers" of the securities market.
Grey Sheets are always the best for "trading"...until you get caught (stuck)!
Nope! Big Government doesn't decide the market's sentiment.
And since "Main Street" brings the money to "the show", seems to me...
MAIN STREET RUNS THE SHOW!!!
Big Government just puts on the production!
Last Post - Eade: Sounds as if the Honorable Judge Percy Anderson is raising the stakes a bit.
In other words, if Eade is serious, he needs to play nicely and work with iHub's legal counsel in formulating a joint report by May 16, 2011.
Guess Honorable Judge Anderson is forcing Eade to "play nicely"..."Everyone can play in the sandbox!"
My guess, this ends with a failure to submit a joint report.
Easy way for the judge to dismiss the case without wasting his time.
Due to the lack of response, I'm guessing this is boring everyone...me included. This is my last post about Eade's frivolous lawsuit! Still have my "senses" on "HIGH ALERT" for any mysterious Russian activity in my area. Packing heat and ready for action!
Love the "Open Carry" laws!!!
I thought the "Sasser Motion" was scary the shorts into purchasing!
What happened today? Only 8,100 shares traded. Our commission cost more than that!
I don't need "big government" to make a sound judgment for me!
In my opinion, SAEI is doomed!
Funny thing is, with the current share structure, this is just a "flip"...from 1/4 cent to 1/2 cent!
INSTANT DOUBLE!
Flip WNBD! Don't trade! Don't invest!
Eric will only steal your money!
Am I scared? WEEEEEEeeeeeee.....
I knew it!!!
Money, greed and testosterone. (Throw in a little tobacco and alcohol).
Dangerous, dangerous mix!
Why bother asking Janice? We all know there are no examples.
It's one big COVER UP! Some massive conspiracy between the media, bashers, the SEC, the US Congress, hedge funds, offshore entities...everyone, except those retail investors (who were warned ad nauseum) that chose to trade OTCBB/Pink Sheet securities and subsequently get ripped off!
Yes...YES! YES!
The criminals are stealing CDIV shareholders blind with their NSS.
Drop you hard-earned money here! They steal YOURS too!