Honestly though, what can the brokers do if they are not party to the suit? The only way is to drag them in, but no one is talking about enjoining other parties to this action.

Whom does Megas expect to get judgment against? BCIT is suing stockholders. So is he saying after he is successful getting judgement against us stockholders, we can sue our brokers? Ive got news for him, but there is no way in hell I am letting him get a judgement against me. Sounds like scam, inside a con, wrapped in a flim-flammy.
The email doesn't make sense to me.

Cash or margin, shouldnt make a difference.

She has been around boards with stocks in trouble for a decade at least. She herself has even been sued due to her comments on message boards. No one really knows her true motive, but she always plays the righteous soul.

In law, there is the concept of contributory negligence, but at worst it reduces the payout, not eliminates it.

Yes, they will. Some percentage, guaranteed.

THe brokers screwed up on this, but in a day to day routine type of way. Routine trading was taken advantage of by someone. Shorting is a given and works out ok in 99.9999999% of the time. Everythings copacetic until the music stops. But then in this case, the counterfeit charge, now the "make good, put up or shut up" lawsuit, ouch, the brokers are in a box and they don't know it yet.
Its like a shock to the system the way this thing fell out. Believe me, after this, if it turns out the way I think it is, a lot of broker procedures will change. Penny stocks may not be traded anymore period. If BCIT does trade, and a forced buy-in does come of it, now with all the attention, I just don't know how high the price could eventually go. High though, very high.
Just my humble, non-legal opinion. Buyer beware, etc.

Wisdom borne from age and experience.

At best you are referring to contributory negligence, not complete responsibility. What exactly is your deal Janice? You are a strange one.

Janice, this is not the first time he has sued shareholders? I thought this case was setting a precedent. What were the other two instances? Are you referring to the case where he sued Pino as one of them?

Yeah but just file the answer first, reserving your rights to counter. Look at it like a chess game.

Also, the suit specifically states innocent shareholders are named. Really a head scratcher.

I respect his lawfirm. They are solid. They wouldn't take a case if it didn't have merit.

Waste of time, imo.

I may go. Three hour drive. Love Cattlemen's steakhouse and haven't been since last summer. WOrth the trip.

It better be is all I can say. Or, if this doesn't, nothing will.

I did a little Sunday afternoon daydreaming on that one, but no algorithm yet.


OT Check out google today. LOL.

Right, you only have certs if you specifically request them from your broker. Otherwise, all brokerages keep all customers stock holdings in street name so they can be readily traded.

Yeah the jurisdiction thing may exempt one from all claims. But that would need to be expressed in the answer.

my sentiments exactly. Everyone I have ever talked to at my brokerage is a douchebag.

Theres more to this than just that. THere are things you can do, counter sue company for more shares or valid shares in replacement for alleged fraud shares, rights you can reserve, preserve, etc. Lotsa fun stuff. Don't just get stuck with a vanilla defense and lose out on other possibilities. Thats why I have been crowing about getting an attorney. Just my opinion and I ain't no lawyer.

Exactly. There is more to this than what is on some of these templates. An atty is needed imo.

Douchebag style response. Who would expect more. Im not sending a copy to FIDO. Eff em.

Just wondering if anyone sent a copy of the suit to thier broker. Mine was asking for one, but me and counsel decided against it.

I think the point is being made now. My concern was earlier on there was a lot of posting of how trivial this is and some where acting as if they were going to ignore it. Be that as it may, one must still protect oneself when sued, which was my only point. Interestingly I got a lot of hate mail for bringing that up.

Yes of course you must respond, that goes without saying. I hope everyone here realizes that, you cannot ignore this or you most likely would lose in default and the squirrel would have a claim against you.

I just think it would be easier to style the suit in a way to name brokers and have them answer, instead a bunch of gambling penny stock players.

No I don't hold, bought through brokerage account prior to PR.

I wish I shared your sunny optimism. That frame of mind has never served me well with pennies before though and I hardly think after being sued by one of the shysters I will start now.

Then why didn't Megas sue the brokers? Seems like if you want to get to brokers, you sue brokers, not their customers. Nuttiest thing I have ever seen in my entire life to be honest with you. Megas is a squirrel. I got a nice counter for the tree rat being cooked up now..

Another thought is this has totally consumed Megas and he is now certifiably insane.

?

He backed brokers into a corner? What are you talking about? No brokers are named as defendants and denial ain't a river in egypt

That would be Cattlemen's. Mmmmm Mmmmm. Da best. Easy on those lamb fries though pard

Exchanges like you are having here is why I was issuing warnings yesterday for all to get an attorney. Too many on here are treating this like they received a piece of junk mail.

Good story except for the fact that brokerages are not named, only individuals and trusts. Yet I do believe the strategy of this suit that makes the most sense is to find out who delivered the fake shares to the brokers. All defendants who answer and send a copy of their brokerage statements showing they purchased their shares online are off the hook. Those who can't prove that are not and give the company a narrower target to find out who was in cahoots with Pino. In the meantime, we are forced to spend extra money and time defending our positions. In the end, it may be worth it, or it may not. Interesting tactic to say the least. Still I urge all to consult a securities attorney to protect yourself. Where you live, when you purchased and in what form you hold your shares may affect your answer. I would not use any generic template some have proposed on this board. That is asking for trouble in my opinion.

Do not construe this post as legal advice. I am not an attorney.

BCIT is represented by a very respected law firm.

See a securities attorney. How do you know you even have to respond? Geez you people are dense.

We all need to stop the denial, put down the bong and get serious here.

RIght, as I have been saying, beware the information being tossed about on this board. A lot of it is bullshit.