PDX Partners Inc (PDXP)

[1manband]

I don't see a problem with announcing a suspension date in advance even if it's 24 hours.

I can think of at least two serious problems with that.

The first is that it would allow the people behind the fraud to destroy evidence, move their ill-gotten gains, and flee. The police don't give criminals 24 hours warning before they get arrested for their crimes, so why should the SEC do it?

The second is that the SEC suspension is primarily designed to stop the fraudulent transfer of the securities and protect future investors. If they were to give 24 hours notice, it would cause a stampede for the exits and all the people who bought the stock would try to dump their shares onto someone else. That would be the exact opposite of the SEC's mandate to protect investors. They are not going to help current investors (and the scammers) 24 hours to dump their stock on ignorant new buyers.

It is not the SEC's job to help those that have already made a foolish mistake. They are more interested in stopping the fraud and preventing the scammers from roping in new investors and stealing their money. There really is nothing they can do to help those that have already been taken, except perhaps impart important experience about buying shares in obvious frauds like PDXP and hope they learn from their mistakes.