No, your interpretation of that page is incorrect. The SEC is only concerned with disclosure and securities fraud. Quiksilver is fully complying with the disclosure requirements under the securities laws, and no fraud is involved whatsoever. Quiksilver is simply a failed business and was forced to file bankruptcy because they are insolvent and could not meet their debt obligations. The SEC has absolutely no jurisdiction over the bankruptcy - that is entirely up to the Federal Bankruptcy Court, which has accepted the plan as filed which will cancel the common shares without any payment to the common shareholders.
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