RCC Holdings Corp fka RCCH

[frogdreaming]

Here is a reason why this operation continues.

Section 10(b) of the Securities Exchange Act of 1934 and SEC Rule 10b-5, has a strict statute of limitations of two years after the fraud is discovered and not more than five years after the fraud occurred. Since the United States Supreme Court ruled on the matter in 1991, the statute of limitations for Rule 10b-5 actions had been one year after discovery and not more than three years after the fraud occurred. However, the Sarbanes-Oxley Act of 2002 expanded the statute of limitations to the current two- and five-year periods. The five year outside limit will cut off any rights under the federal securities laws regardless of the time of actual discovery, as the doctrine of equitable tolling does not apply to extend this time period beyond five years.

So far the game has been played well enough to keep people stringing along. Doesn't look like they need to keep it up much longer.