Fellow Investors:
Complaints to the SEC are considered "confidential" and the SEC will not discuss or even inform you of the status of any investigation or even if the complaint is still in process or has been dismissed. They claim that this is done to protect possibly innocent persons whom complaints have been filed against. Here is the policy:
"What Happens After I Send Information to the SEC?
Staff in the Division of Enforcement evaluate information and tips concerning violations of the federal securities laws. It is the general policy of the SEC to conduct its investigations on a confidential basis to preserve the integrity of its investigative process as well as to protect persons against whom unfounded charges may be made or where the SEC determines that enforcement action is not necessary or appropriate. Subject to the provisions of the Freedom of Information Act, the SEC cannot disclose the existence or non-existence of an investigation or any information gathered unless made a matter of public record in proceedings brought before the SEC or in the courts. You can find information about public enforcement actions on our web site.
The information you provide may be used in the routine operations of the SEC, which include law enforcement, review of legislative and regulatory proposals, regulation of the securities markets, and review of reports and documents filed with the SEC. Specifically, the SEC may use the information obtained from this form in any administrative or civil proceeding in which it is a party, or in which any member of the SEC or its staff participates as a party. It may also provide the information to other state and federal agencies, and foreign authorities."
The SEC therefore will not comment at all or even inform you if you file a complaint against Nascent CEO's and executive officers.
I guess this means we can only conjecture as to whether there will be any real relief to Nascent Wine investors with the sale of Targa - a major Nascent asset for peanuts - while we the Nascent investors got nothing.
