Sunday, June 03, 2018 7:31:02 PM
First, according to www.probesreporter.com, the probes reporter is basically a hired gun. For $1200/yr, you can become a client of this service, then ask them for a report of any open, ongoing SEC investigations regarding your particular company of interest (BTW - for a cool $20,000/yr you can get the deluxe Probes treatment). Apparently, once you've paid for your subscription, Mr. probes reporter then files FOIA requests with the SEC regarding any open investigation of the target company. According to the SEC.gov website, Probes Reporter has filed ~500 FOIA requests since October, 2017. Here's an example of one he filed regarding Bojangles, Inc. in December 2017 (lol)
[url][/url][tag]https://www.sec.gov/files/18-00851-T.pdf[/tag]
Second, according to the SEC.gov website, the SEC enforcement division:
An SEC investigation can be initiated due to:
Now just because there is an ongoing investigation doesn't mean that Zion has actually done anything wrong. At this point, if there is an investigation, depending on the timing, Zion may not yet have even be aware there is an investigation ongoing as:
It is probable, especially given Mr. Probes voluminous FOIA requests of the SEC (and he's not the only one), the SEC may have opened a case, but has not yet even started an informal inquiry, much less a issued any subpoenas.
So, my hypothesis is that, some time ago, someone, quite probably a short, but could also be a former disgruntled employee, an anti-semite, or some other disgruntled party, called the SEC Enforcement division with a complaint or a tip against Zion regarding one of the common violations above. They then hired Mr. Probes Reporter's service, which then triggers an FOIA request. Once Mr. Probes Reporter get's his vague response from the SEC, he then uses it to declare that the company is under investigation, and by subtle suggestion either corrupt or a fraud, resulting in Zion's corresponding price drop. Mr. Probes and his clients walk away with a tidy sum from their short.
What I would like to know is if Mr. Probes Reporter (and his clients, who for that cool $20k can get "private meetings & conference calls" with Mr. Probes himself) shorts a stock once he (and his clients) receives the affirmative response from the SEC of an investigation, prior to accusing a company of being under investigation on social media. Would this activity be illegal?
Recent ZNOG News
- Form 8-K - Current report • Edgar (US Regulatory) • 02/26/2024 07:38:34 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 02/26/2024 07:37:29 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/29/2024 04:44:22 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 01/29/2024 04:43:39 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 01/25/2024 07:42:44 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/23/2024 02:54:41 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/10/2024 09:31:36 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/09/2024 07:45:12 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/08/2024 07:33:31 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/08/2024 07:26:42 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/08/2024 07:19:45 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/08/2024 07:08:07 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/08/2024 06:58:32 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/20/2023 04:50:59 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 12/20/2023 04:49:39 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/12/2023 07:38:56 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/06/2023 05:43:07 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/09/2023 09:31:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/06/2023 02:38:05 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 11/06/2023 02:35:45 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/02/2023 03:35:05 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/02/2023 03:09:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/29/2023 06:24:40 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/28/2023 09:02:26 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/27/2023 05:40:34 PM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California • NBRI • Jun 27, 2024 9:00 AM
Branded Legacy, Inc. and Hemp Emu Announce Strategic Partnership to Enhance CBD Product Manufacturing • BLEG • Jun 27, 2024 8:30 AM
POET Wins "Best Optical AI Solution" in 2024 AI Breakthrough Awards Program • POET • Jun 26, 2024 10:09 AM
HealthLynked Promotes Bill Crupi to Chief Operating Officer • HLYK • Jun 26, 2024 8:00 AM
Bantec's Howco Short Term Department of Defense Contract Wins Will Exceed $1,100,000 for the current Quarter • BANT • Jun 25, 2024 10:00 AM