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Friday, March 10, 2006 11:23:06 PM
First of all, it depends on Florida's incorporation laws. In many states a certain percentage of shareholders can force the company to open its books. Theoretically, at least; actually doing it isn't so easy if the company objects.
Second, I'm not sure that that would cover the question of access to their supposed "research", which wouldn't necessarily be included in their "books".
I think the only semi-realistic hope is that the Florida State Securities Division will conduct a serious investigation. As someone noted recently, it was claimed a long time ago that an investigation was underway, but we haven't heard anything about it. That doesn't necessarily mean anything; investigations can take a long time.
That said, it's not the only hope. The SEC moves very, very slowly. They may yet do something. Some agency has so far prevented Pearce from doing all the things he wanted to do; things that would have been detrimental to shareholders. But whatever agency that is hasn't done anything to help shareholders, either, so far.
lol, so maybe we should ask Matt to do some hands-on research once again?
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