SPYR Inc (SPYR)

[JakeF1972]

Fiore did not disclose that he was 1) employed by the issuer 2) was the Chairman of the issuer and 3) the largest shareholder of the issuer. You are correct, you certainly can pay for research, however when you are an employee and the single largest shareholder of the issuer you MUST disclose that information to the entity you are paying to write the report. What Fiore did was illegal, he got numerous firms to put out favorable news with the sole purpose to give him the ability to use that positive news to sell the stock. In essence he was running a pump and dump. I could care less who his attorneys are, the information the SEC has obtained as laid out clearly in the complaint is not circumstantial evidence, it is factual evidence and Fiore clearly violated securities laws. SPYR will be bound to make remuneration on the ill gotten gains which could total in the millions.