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If the board name change is felt incorrect, talk to Admin of Ihub, they are the ones who made the decision and changed the name of the board to reflect the name of the company. Not sure why anyone wouldn't want the board to reflect the name of the company BNPD, but who knows.
Just can't change the ticker until it is official with SEC filings at OTCBB.com. No matter how much it is stated or hyped.
What's in four letters anyway down in pinky land other than maybe more phonetically pleasing.
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=F935ehzn7CYbsbMPJ4T5xA%253d%253d&nt7=0
Also in Ibox, also the hype on company name change has been stated over and over and over and over ............ for weeks here on the board. Along with PR's from the Company itself.
But now maybe the BNPD company hype doesn't want the name change. LOL
I put in the request for name change of the board to Texas Oil and Minerals Inc. as per state filings.
Ticker change will only be changed when it is official at OTCBB.com per IHub criteria.
http://otcbb.com
Board will continue to be the same with only a name change and ticker change when or if it happens at the OTCBB
The general consensus definitely "speaks" loud and clear here with BEHL.
Now charts are pretty worthless with POS .0001 stocks like BEHL with its 15 Billion maxing out A/S. One reason is that on any longer term chart, just about every indicator on the candles just goes to nothing and makes it a blur of around .0001 (the lowest the pps can go other than NO BID or zero)
On a yearly chart (3 day candles), one can see however that case and the fact of about a year ago the SCAM of BEHL and another company "buying" BEHL and giving "free shares" which was about a year after yet the same SCAM of some other shell involvement or "company" buying BEHL. Some time before that was the SCAM and PUMP and DUMP of PSC (now shut down by the SEC).
In the past couple of years, the pps was about .04-.05 on a "new" company pump, and then as one can see the SCAM of about a year ago was quickly around .004-.005 on the "new" company pump.
Now it is about .0001 with its regularly diluted A/S of 15 BILLION. Isn't doing so well with the "new" company pump this time. No wonder, really how many times can too many be fooled with the same SCAM along with the pps has just hit the lowest it can go at ZERO and of course the 15 BILLION share structure. I half expect them to do a "free share" or "buyback" scam or at least attempt to pump the idea.
But here are a two year chart with weekly candles showing the PSC PUMP and DUMP,
1 year chart with 3 day candles showing that "new" company pump,
and then 6 month chart with daily candles with shows this "new" company pump. Getting to be like clock work.
As little as charts are worth down in scum land, it does still show what any BEHL "market" says. The "rinse and repeat" is never positive, but when it has gotten down to bouncing around .0001 and the share structure and debt of 15 BILLION A/S, the dirt really has to get piled up.
So what else is new for the promo site and promoter, they keep doing that. Months after, the promoter goes back and edits the lies and tries to cover up the tracks. The promoter and promo site is only after the gullible and any new suckers’ money. It's the only thing low life has. That is to hang out at a want-a-be promo site that backs up and supports the low life criminal nature of this shell ticker and its promoter.
Then some "longs" or "bag holders" talk about "just want to get the money back" from BEHL. Gee, what happened to just listening just a little way back when many of us were giving out realistic info long ago and wanting to save it from being lost and exposing the low life.
When the pps was 1,000's of percent higher and stating things like "there isn't any filings with BNPD", "no legal business", same fraud as last year with the same "friendly" people.
We stated, look at all the dilution, no verifiable anything that any of the fluff PR's stated. NONE. On and on with realistic expectations (which then came true over and over).
Now were coming around again, another year, and some have the audacity to even try to put out that there is "no rinse and repeat"
The chance of recouping now to thousands and thousands of percent higher is just ridiculous. Even hundreds of percent is going to be rough and against extremely high odds to do.
The moral thing of course and effort that should be put forth is to NOT LOOSE others money and not back up criminal and BS people behind the BEHL pinky SCAM. Remember, "an ounce of prevention is worth more than a pound of cure".
Haven't heard much from ones who "just want to see shareholders make their money back" about what is going to happen with a maxed out 15 BILLION share structure and debt that is going with this shell no matter who buys it or what business "fluff PR" (which has no validity at all) is going to have.
ALL the other INVALIDATED PR's may have had at least some less of a share structure. Why they constantly increased it to the 15 BILLION. How is that share structure and debt of BEHL going to "make the money back". Common sense needs to come in here and just looking at the plain numbers. Yes, BEHL can increase the A/S more before an R/S as long as they have some suckers to buy into the BS of the promoter. But that still is a NEGATIVE result and still will just delay a bit the inevitable R/S.
Now is the time to stand up against the Pinky BS, maybe create some sort of defense against the criminal and rip off type pinky like BEHL and its promoters. Not "wish" for ones who didn't listen to the ones who stood up before and expressed the truths and facts about BEHL's demise. Time for wishing return on all the lies and low life promotions is gone.
The future will involve the facts about that this shell ticker BEHL is in a process RIGHT NOW of "rinse and repeat". It can't get away from the FACTS of the 15 BILLION share structure. The FACTS of the way the shell owners, brokers, promoters, whoever one want to think it is, makes money, or "finances", dilutes, etc, from a public shell trip zero ticker.
The FACT that at some point the dumping has to end with a maxed out 15 BILLION A/S and the FACT that only leaves certain options to make more money for the insiders, shell owners, promoters. Especially when the pps is down at the bottom trip zeros. NONE of those options are any good for shareholders who want to continue to BEHLieve there is a Santa Claus that is going to come in on his sleigh and “give their money back”.
Being fooled is one thing, being fooled forever is another. And to take advantage of the fools or to continue to try to fool and scam is the very lowest of the BEHL epitome.
Another fact about the "negative volume". Usually one will see it when there is a lot of volume and the pps goes plummeting down. In this case, the BEHL toxic shell ticker has already gone down as far as it can go with the pps.
So the debt dumping of shares and maxing out the 15 BILLION A/S, the pps just sits at the bottom, mixed in with NO BID when the dumping takes any interest out. Maybe just to the little interest that mistakenly take advice to buy or hold more of the toxic shares from "company" (used loosely) promoter sources that just have been wrong consistently or just supporting the criminal nature of the shell as the pps has gone down to the very bottom.
The only thing one can have with a maxed out share structure of 15 BILLION is negative consequences. And that doesn't matter what business the toxic shell such as BEHL might want to portray or fluff up.
But there is definitely more "debt dumping" or "cleaning" to go and there are shares available if one wants to loose money. Just too bad that all that happens is more dilution and/or "rinse and repeat" cycles with more negative volume.
But some say it's just Santa Claus and Xmas for the insiders, promoters, shell and debt owners, etc of the ticker. For them all the "cleaning" is just "gifts". For any common shareholder though, it's just like being stolen from.
It's more debt dumping. It's what's called sometimes as negative volume. Just plain toxic shell "cleaning".
It will make it go through its process of "rinse and repeat" and get to the maxed out 15 BILLION A/S share structure though.
What's left after that?
Shell ticker setting idle due to it's got every last sucker dime or
Increase in A/S again if there can be some bids to sell the stinky .0001s for the most part or
R/S to continue the "rinse and repeat" cycle.
Any pump or hype about any "new" business, "new" company, etc, etc will only fall into one of those or combination. It's the pinky market "singing". A little off key, but what does one want for bad karaoke? LOL
We can see that some are at least coming around and admitting that we were right all along. That is the fact that there was no business, no product, no business plan and only a dirty shell "cleaning" (same as debt dumping). Exactly what was being informed by most of us here is that in fact now starting to be admitted by the sheep and that BEHL was only in the business of selling shares in order for hopefully another fluffy story to buy into. Again doesn't matter what business that story is.
One has to let whoever wants to believe in Santa Claus and the fact that no one can get in touch with him is because then Mr. Claus would have nothing but constant people bothering him for presents at Xmas. LOL
NO matter if one wants to tout an "imaginary friend" named Burton or the fact that Pawson, DF, and gang is responsible for a dirty shell. A dirty shell with nothing but a NO BID status always effecting it and 15 BILLION A/S with nothing but a R/S rinse and repeat coming. The end result is and will be the same at this point.
But it can be said that maybe it is at least starting to sink in to at least some. If Santa Claus makes that work for them, so be it.
It is quite interesting how few BEHL "investors" who discuss their "free shares" don't realize that it can show the desperation that BEHL has become and it is like discussing all the "free shares" that an investor has received from the scam that took place with BEHL and BNPD. My opinion is that any holding of any type shares at this point is just bad BEHL investment strategy. But thats just me, everyone has the right to loose their money away at anything they might want.
The BEHL ticker has not produced anything but lies and desperation for the shareholders. 15 BILLION A/S that is getting maxed out and a R/S on the way is the only thing that will be given in the future.
Let me direct you to this post once again.
No such person as Burton. Only a empty toxic shell that put out again some fluff news that NONE of the things that the "news" in a PR came about. The only thing that came about was what most of us said was going to happen. Then it happened. The only "turn around" was fleecing of investors that didn't listen and didn't "judge" the facts and just "waited" for more losses that happened.
Waiting to put judgment is just irresponsible investing. One must take a look at any "new" management or people behind the curtain of BEHL. What about the qualifications? What is their history and capabilities? What is the share structure and debt? What is all the history of the shell, due to that history will just become part of any future. Looking at things like this and more, or "judging" can intelligently determine the odds of any profit or true business to be formed.
Going on a pinky PR of a shell that has constantly been BS and never anything that the shell's PR states come to pass is just ludicrous and just set up for more losses. Same thing goes for going on the constant lies that the ones behind the shell BEHL continue to allow out.
R/S is coming, share structure and debt along with all the dirt will come to nothing but more heartache for any who do not "judge" before and just "wait", proving the ones who desperately continue to back the criminal nature of this shell wrong.
None of that changes the share structure or the certainty that this will just continue to flounder in the pps and result in an R/S or increase in more A/S and then R/S. That is if the SEC doesn't step in somewhere. For the most part, the odds of any "recoup of investment" is pretty astronomical and just more losses on the way if one holds or buys into this.
The fact that statements of departure of "scapegoats" are just lies and the fact that Pawson, DF (or whatever his name is that he lied about) has had control over the demise of the ticker is just confirmation of the analogy. The fact that lies and BS are even being promoted is proof itself. Where are those police reports or court documents backing up anything that is trying to be promoted?
The analogy definitely applies and the cycle just continues. What do we have on the supposed "new" people involved with yet another made up pinky story?
I have posted some links, and documents have proven connection, maybe you could post some verifiable links about any "new" management’s ability to do anything with the fluff PR's statements or supposed business that is just another shell story.
To continue to promote the criminal nature and more losses attached to this ticker is in my view, not going to be any success in "recouping ones investment". Best just to move on to another better chance with the money, what little there is left. IMHO
I believe that these statements easily hold true, judging from statistical data and history of all pinks, at least low NO BID - .0001 (or trip zero stocks especially). These statements definitely apply here with this toxic shell, and it doesn't matter what story it might have.
I did. Off your post about them and BNPD company. Thats what came up with this.
I definitely understand any "so what" to so called "irrelevant events" instilling one kind of BNPD investment strategy and I appreciate your thanks. And I thank you for yours. Really shows to me things about this BNPD pinky stock with it's so called professional associates that will do real well with the SEC uplisting having such a "honor badge" and positive effect with them. LOL
And no matter what one thinks about the SEC, they are the ones who have to be dealt with for the supposed pinky "uplisting" and it is their criteria that has to be dealt with.
That's why pinks like BNPD usually 99% of the time just talk and hype an "up listing" and it never comes to pass for one excuse or another. Another reason that large and/or reputable attorney firms don't usually touch pinky shells like BNPD with a ten foot pole.
I definitely understand any "so what" to so called "irrelevant events" instilling one kind of BNPD investment strategy and I appreciate your thanks. And I thank you for yours. Really shows to me anyway things about this BNPD pinky stock with it's so called professional associates that will do real well with the SEC uplisting.
And no matter what one thinks about the SEC, they are the ones who have to be dealt with for the supposed pinky "uplising" and it is their criteria that has to be dealt with.
That's why pinks like BNPD usually 99% of the time just talk and hype an "up listing" and it never comes to pass for one excuse or another. Another reason that large and/or reputable attorney firms don't usually touch pinky shells like BNPD with a ten foot pole.
http://investorshub.advfn.com/boards/board.aspx?board_id=7820
http://investorshub.advfn.com/
And of course the main link that BNPD filings can't be found
http://www.sec.gov/cgi-bin/browse-edgar
I tried to help out by already giving you google, pacer, etc. etc. I gave out some links, your turn.
How about giving some links and real DD (not just "I talked to my broker" type statements) and give real links on how Gouger is the right man for the job (not just repetitive copy and paste from the company fluffed resume), how the attorney is the right legal council for dealing with the SEC.
I would welcome some links and verifiable info that is not just the same old one line hypes or "so what" BS or defense to violations, securities fraud, etc. etc. Or the same old pinky hype of BNPD ticker change.
All I see is BNPD hype and pump and promotion with the so called defense.
Something about the "so what" BNPD theory that is floating around and such great DD that comes from the "so what" BNPD investment strategies. Some things like:
"So what" that the CEO of the company has a history of safety and permit violations with the state and questionable ways of doing business. One should always question and not just take the constant repetitious type statements that are only copied and pasted over and over from the company themselves.
“So what” legal council has a dubious history with stock manipulation, consulting shares with what becomes bankrupt companies, connection with known foreign scam stock promoters or promotions. An attorney who has been suspended permanently from the appearing or practicing before the SEC commission. Great legal council to deal with the SEC and supposed "up listing".
“So what” if BNPD is just another continuous pinky hype and nothing but promotional pump with the same old "up listing" pinky talk that very rarely ever comes to pass. The hype that the four letters are changing and BNPD will make everyone rich kind of hype.
“So what” that any real DD on the company and its associates is just hyped away or sluffed off with more one line BNPD hype or "so what" type statements.
So what? A very questionable BNPD investing strategy and listening to anything that comes from the "so what" BNPD hype sure brings on certain criteria in ones thinking of BNPD.
Now of course just trading the BNPD hype is quite something else, but there is realization to the fact that with every pinky BNPD pump comes with it the BNPD dump at some point. When it happens, it takes it down so that it creates nothing but BNPD losses.
But hey, so what? Right.
To funny. What, miss all those BEHL "gifts" that the "turn around" expert was giving out? LOL
Well there are more desert sea-monkey shares of BEHL to be had. One can throw some money away and buy as much as one wants at the local Pinky "market" gift shop in the intermission of the BEHL R/S movie playing near you. LOL
Ah, the old ridiculous "FORD" talk made by the same ones who were talking "FORD" over a year ago when BEHL was being bought for thousand upon thousands of percent more than it is now.
Buying and/or holding BEHL is kind of like buying "FORD" now (or then) for what $1,000,000 a share? LOL Total loss.
Still nothing to do with BEHL due to again over and over again on the "FORD" subject, BEHL is not a real company, just a very dirty POS shell that and nothing but liars and thief's behind it as promoters with just a super sub penny pinky with its over-bloated share structure about to get worse with the only spin is to talk about some unconnected subject like "FORD" stock. LOL
Of course the timing of buying and holding BEHL when it was %1000's higher does show some of the worst investment strategies that the "market" has. Bad strategy that the "market" continues to have to offer due to buying BEHL now will just be worth again in the future something to talk about that is 1,000% in the hole again after the R/S.
By Tom Hals
WILMINGTON, Delaware | Fri Jul 8, 2011 4:54pm EDT
WILMINGTON, Delaware (Reuters) - The U.S. Supreme Court's dismissal of a massive sex-bias case against Wal-Mart Stores Inc may have handed Wall Street a new weapon in its battle against angry investors who lost billions on securitized home loans.
At first glance, last month's ruling in the Wal-Mart case may seem far removed from lawsuits over complex mortgage investments blamed for helping to trigger the global financial crisis in 2008.
But attorneys are seizing on the Supreme Court decision as they fight to prevent pension fund investors from banding together as a class to pursue claims they were misled about bonds built from flimsy mortgages.
In the Wal-Mart case, the Supreme Court on June 20 found that 1 million current and former female employees from 3,400 of the retailer's stores had too little in common to form a class. The court's language about issues of a "common question" could, according to attorneys arguing for the banks, also bar mortgage bond investors from suing en masse.
Lawyers defending a unit of Washington Mutual argue that the "commonality" that was missing among the female Wal-Mart workers is also missing among investors in securitized mortgages, even when they invested in the same pool of loans.
They made the argument in court papers filed on June 22 arguing against certifying a class of investor plaintiffs suing Washington Mutual. The case is pending in District Court in Seattle.
If successful, the defense tactic could prevent investors in mortgage-backed securities from pooling their resources and bringing a case as a group. That could make it more difficult for them to pursue cases against big issuers of mortgage bonds, such as Bank of America Corp and JPMorgan Chase & Co.
The Washington Mutual legal team referred questions to JPMorgan, which bought the bank in 2008. JPMorgan declined to comment on Friday.
CLASS SYSTEM
The Wal-Mart case was closely watched and the ruling is expected to make it tougher to bring class-action cases, which are often used in drug and product liability lawsuits and have led to mammoth settlements with consumers or shareholders.
The Supreme Court decision steers courts away from certifying broad classes of plaintiffs while leaving the door open to breaking out sub-classes later, said James Cox, a professor at Duke University Law School.
In the mortgage market, banks securitized home loans by collecting large pools of mortgages and placing them with a trust. The trust then issued bonds cut into "tranches," each carrying a different credit rating. The higher-rated tranches were paid first from the money flowing from homeowners.
Courts already have denied class status to investors who sued on behalf of all others who bought bonds issued by different trusts that were set up by a particular bank or mortgage company, such as Countrywide Financial.
The Supreme Court's Wal-Mart decision may help narrow the class scope further, separating tranches within a particular loan pool trust.
In their court papers, Washington Mutual lawyers cite the Wal-Mart decision for their argument that each tranche of the mortgage-backed security needs to be analyzed separately to determine which loans back which tranche, and whether those loans were properly written.
"Even if plaintiffs seek to ask the same question across all loan groups and all securities, unless they can be assured of getting the same answer, no class can be certified," the court filing says.
The Wal-Mart ruling is the first case cited in Washington Mutual's argument. The company's lawyers also cite the decision to make their point that each tranche must be evaluated separately, not lumped together merely because they have common legal claims, according to the court papers.
Thomas Hatch, an attorney who has brought mortgage-backed securities cases but is not involved in the Washington Mutual lawsuit, said courts are right to narrow classes to a single trust, but he disagreed with cutting to the tranche level.
"The defendants are wrong in claiming you have to be in the same tranche to be in the same class," said Hatch, because those various slices of the bond rely on the same offering document. "It isn't tranche specific, it is trust specific."
The Seattle federal court will take up the Washington Mutual class certification issue on July 27.
The case is In re Washington Mutual Mortgage Backed Securities Litigation; U.S. District Court, Western District of Washington, No. 09-00037
(Reporting by Tom Hals; editing by Martha Graybow, Gary Hill and Andre Grenon)
http://www.reuters.com/article/2011/07/08/us-mortgage-backedsecurities-litigation-idUSTRE76765I20110708
+1 There is no such thing as "free shares". That is money in one's pocket, it was earned, and if one looses that money with trying to trade or invest in POS like BEHL, that is called "bad strategy" and "bag-holding".
Kind of like taking one's two week paycheck and throwing it down the drain (BEHL) without even cashing it and then saying "it was free". LOL
Well the share structure for the other stock (that BEHL had no money for to continue the SCAM that Pawson and gang were trying to do) allowed it to have the hype, hype's dog, and the hypes dog fleas to be able to get some pump going (finally) and ability to trade it up and down (at least if one always watches for the dumping).
Same reason that BEHL was able to do a PUMP and DUMP scheme a couple of years ago with a now shut down PSC. The share structure allowed for it.
I'm afraid the hype and/or pump won't touch this with a ten foot pole (a smart decision) due to the lousy share structure of 15 BILLION and dirty debt dumping that the ticker will continue to do. Just not that much sucker money available and trading availability to battle the “debt dumping” and dirty people behind the ticker.
Now there is supposedly some “sale of the shell” of BEHL, but I have my doubts that any full release of Pawson and gangs interest in this is being done. Just more phony business, with a newly formed website that can be done from any home computer with a new name to replace the imaginary “Burton” with. It doesn't really matter, it's the debt and share structure one has to contend with mostly here with the dirt that compounds the situation.
We at least maybe have some name and daughter that might be real, but that guy and previous business has just history of failed attempts and the last filing or actions were just checks returned due to NSF for the State filing fees years ago. I’m not even sure the guy is healthy and it’s not just the daughter handling the paperwork (if there really is much of that other than fluff PR’s or minimal state filings).
It’s real curious the connection Pawson and gang chose to continue this charade with. But it’s a pinky world, and phony CEO’s, phony business, imaginary product, phony PR’s, phony web-pages, and criminal activity are running rampant. At least we can be thankful that with a words like “bio-waste management” that it is just a phony business to sell more shares with or at the most try to sell some idea of cheap toilets that are portrayed in cartoons like “King of the Hill”. That’s about the only “bio-waste management” I would rather them do.
But here is a couple of posts I made, one over a month ago and another almost two months ago that are basically still holding true. The share structure here will just kill the ability to trade or invest without losses. Hopefully some took the opportunnity of selling into the fluff PR and was able to get out while the ability was there or what little ability is left.
Well I guess crime might have a chance of paying better if the name of the Lord or other religious sanctity gets invoked.
On the other side of the coin (In God We Trust) we have this:
By David Henry
NEW YORK | Thu Jul 7, 2011 2:14pm EDT
NEW YORK (Reuters) - JPMorgan Chase & Co agreed to pay $211.2 million to settle federal and state charges that its employees rigged bids for derivatives sold to at least 48 cities and charities.
The deal, which includes 25 state attorneys general and five federal regulators, is the biggest yet in a continuing industry-wide investigation.
Since December, Bank of America Corp has agreed to pay $137 million to settle charges and UBS has paid $160 million, according to the Securities and Exchange Commission, which has been part of all three cases.
Former JPMorgan employees submitted sham bids when seeking to provide derivatives to municipalities and not-for-profit organizations, law enforcers said. The bank also communicated with competitors to fix prices as part of a scheme that began as early as 1997 and continued into 2006, law enforcers said.
Nine former employees have pleaded guilty to crimes and nine others have criminal charges pending, according to a statement from the U.S. Department of Justice.
The bank itself avoided prosecution for bid-rigging and manipulation by cooperating and admitting what happened as well as agreeing to pay fines and restitution and put in place new controls over employees, according to the Justice Department.
The department said it has agreed not to prosecute as long as the bank "satisfies its ongoing obligations" under its settlement agreement.
"This fraudulent conduct completely manipulated the playing field and left public entities like governments and nonprofits at a serious disadvantage," New York Attorney General Eric Schneiderman said in a statement.
JPMorgan said in its own statement that "the firm's policies -- both now and during the period in question -- expressly prohibit the conduct that gave rise to these proceedings."
The bank said it has tightened its supervision and set up new surveillance programs to ensure compliance with the law. It dissolved its municipal derivatives desk in 2008.
While the bank said it is paying $211.2, the SEC put the figure at $228 million. JPMorgan spokesman Joseph Evangelisti said the SEC's figure double-counts $17 million which is being distributed to various regulators, municipalities and not-for-profits.
(Reporting by David Henry, additional reporting by Karey Wutkowski and Jeremy Pelofsky in Washington and Joan Gralla in New York; Editing by Matthew Lewis, Bernard Orr)
http://www.reuters.com/article/2011/07/07/us-jpmorgan-settlement-idUSTRE76641220110707
One might think that over $200 million is a pretty good number, but for JP Morgan and Chase, it's questionable. JPM up today with all the news.
By Jonathan Stempel
NEW YORK | Thu Jul 7, 2011 3:57pm EDT
NEW YORK (Reuters) - A federal appeals court threw out a lawsuit accusing JPMorgan Chase & Co (JPM.N) of violating U.S. racketeering law by conspiring with Bernard Madoff to further his Ponzi scheme.
Thursday's decision, in a case brought by a Florida partnership that invested with Madoff, came less than two weeks after the trustee seeking money for Madoff victims separately filed an amended $19.9 billion lawsuit against JPMorgan, accusing it of enabling Madoff's fraud and ignoring red flags.
The trustee, Irving Picard, is trying to use the same racketeering law to recover as much as $58.8 billion from dozens of European defendants in his largest Madoff lawsuit.
In Thursday's decision, the 2nd U.S. Circuit Court of Appeals of New York rejected an allegation by MLSMK Investment Co that JPMorgan violated the Racketeer Influenced and Corrupt Organizations Act (RICO) by conspiring with Madoff to "fleece" customers, and failing to freeze his accounts.
MLSMK, based in Palm Beach, Florida, said it lost its $12.8 million investment with Bernard L. Madoff Investment Securities LLC when Madoff was arrested on December 11, 2008. It sought to hold JPMorgan liable for conspiracy under RICO, which allows treble damages, by aiding and abetting Madoff's fraud.
But Judge Robert Sack, writing for a three-judge panel, said a federal ban on civil RICO claims based on securities fraud also covers aiding and abetting claims.
"As the plaintiff concedes," he wrote, "the purpose of the bar was to prevent litigants from using artful pleading to bootstrap securities fraud cases into RICO cases, with their threat of treble damages."
District Judge Barbara Jones had dismissed MLSMK's RICO claim on different grounds. The 2nd Circuit had on June 6 also upheld her dismissal of four New York state law claims.
APPEAL POSSIBLE
"The circuit essentially said aiders and abetters of securities fraud have a free pass, because plaintiffs cannot sue them for securities fraud or RICO," Howard Kleinhendler, a partner at Wachtel & Masyr representing MLSMK, said in an interview. "I don't think that's a correct result, or what Congress intended."
He said his client may appeal to the U.S. Supreme Court.
Patricia Hynes, a partner at Allen & Overy representing JPMorgan, called the decision "a very important ruling."
She said it resolved a split of opinion among judges in the 2nd Circuit, and makes clear that plaintiffs cannot do an "end run" around laws barring RICO claims based on securities fraud by presenting their claims differently.
Picard filed his $58.8 billion lawsuit against dozens of defendants including Austria's Bank Medici AG, its founder, Sonja Kohn, and Italy's UniCredit SpA (CRDI.MI). He alleged $19.6 billion of damages, which could be tripled under RICO.
Thursday's decision "could be problematic for the trustee" in that case, Kleinhendler said.
A spokeswoman for Picard had no immediate comment. A UniCredit lawyer declined to comment.
Picard has filed roughly 1,050 lawsuits on behalf of Madoff victims to recover more than $103 billion.
Madoff, 73, is serving a 150-year prison sentence.
The case is MLSMK Investment Co v. JPMorgan Chase & Co et al, 2nd U.S. Circuit Court of Appeals, No. 10-3040.
(Editing by Steve Orlofsky)
http://www.reuters.com/article/2011/07/07/business-us-madoff-jpmorgan-dismissal-idUKTRE7666R820110707?type=companyNews
Thanks once again for your work and summary there nodummy (also a shout out of thanks to samsamsamiam for his posts). It never ceases to amaze me how much swill can swirl around in a sewer. Your statement of
Ok, audited financials bad before filing for a supposed up-listing. The pinky "waiting for big deals" theory is better way to go. Carry on folks, back to the BNPD hype, if it's all we have, its all we have.
That what I said, "awareness promo", the same as "paid to promote awareness". No big deal, just like other pinkys. It is what it is, just was hoping for something different. Like real audited accounting, the famous hyped up up listing, filings with the SEC, the things that aren't like other pinkys.
It's the bottom alright, jeez I spit out my coffee from the laughter. Where is that filing? Auditing? Ticker change?
Nothing but paid promo, pure and simple. That and future looking statements, just like a pinky.
The more recent buzz words. "Awareness" promo or campaign. Great news. All the hype every day for such "news". Quite a let down. lol
Thats the news? What a flippen joke. ROFL Paid promotion and decoder ring that just an advertisement. No filing of uplisting, no accounting firm, no ticker change. What an exciting event. Just more hype. LOL
What DD was that? I didn't see any from the source you spoke of.
Well links to legal suits, suspensions, CEO permit and safety violations have been given, but I'm a true believer that one should be taught to fish instead of just continuing to supply the factual documented and linked fish. Another fact along with all the others that I have spoken on with BNPD legal council record is that no matter how many fish that one lays out and another denies that the fish are even there, the real fish (or facts) are so much better tasting if one does the BNPD pinky fishing for themselves.
So here is some help.
http://www.google.com/
Or another one
http://www.pacer.gov/
Lots there and where a lot of BNPD fish/facts are supplied. Might even find some REAL defense to so much negative history, although I have my doubts. Maybe somewhere out there can even be a substantiated link of the gagged share structure. It's a start anyways. Better than just going on all the BNPD hype or just trying to discredit others documented links. Maybe someone can bring some of their own BNPD links to the table. Good luck.
Again, why are you asking me to do the work. I have given links, it would start just filling up the board with links. Really, it is pretty easy to find. What one can't do is post the gagged share structure or link to any confirming of share structure. The unaudited financials sure weren't complete, no attorney letter, so much for that link.
My links easily explain my facts so that I'm as you stated "comfortable with" my DD. I suggest anyone to be comfortable with their DD or lack there of.
The fact remains that as of now BNPD hype of up listing and audited financials is just that, pinky hype.
I've already supported what were not accusations, but just statement of fact. It is what it is. Now defense against my stated documented fact is what is still being waited on. I stated facts and gave links, if one wants to like those type of facts and history, thats their choice.
Still doesn't say much for the hype of BNPD, or actually it says a lot. LOL
But of course I have links to documents explaining reasons for my statements with hours and hours of personal DD, but do I have to do everything? I thought it was determined that anyone could Google around with BNPD? Why show link after link after link, I've done some, someone else's turn, there's plenty of BNPD DD and links still out there. Not my job to defend the guy, someone else can have that. I might give a link from time to time, but it's not my habit to do all the BNPD shareholders work.
If one is happy with the type of attorney services Kagel has done and his documented history, fine, their choice.
I'm just saying I would have liked to see different council and IMO better reputable council that would be more experienced in the matters dealing with successful and positive communication and filing with the SEC and a named accounting firm in order for all the constant BNPD hype of up listing and ticker name change to have any validity at all.
Maybe we'll get those things in the future, but as of now, it just looks like the same old pinky BS and any BNPD trading or investing should be done accordingly JMHO.
It's what he's thriving on is the point I guess and the new management chose to keep him, didn't have to. The company he keeps and cases he's involved with are quite telling IMO. Scam companies such as this one in cases such as this which by the way lost to a tune of 8.3 million dollars against who he was defending:
http://www.corp.ca.gov/ENF/pdf/g/galaxy_stipulation.pdf
Other legal battles against him for manipulation of company shares, giving money to known scam operators, consulting in failed shells but selling his shares for profit, the shareholders of the failed company didn't get it, but he thrived. Great company he keeps and thrives on. There just too much on what exactly he "thrives" on.
Says a lot for the "company" he chooses to "thrive" on now. Still not too good for shareholders IMO or for a company supposedly that needs to comply with the SEC and up listing requirements.
That is if thats the real plan, for the same old pinky up listing and then never happens BS, he probably a good choice (other than loosing millions of dollars for companies he defends, maybe it would have been more of a loss if he wasn't "thriving", not sure.)