BioAmber Inc (fka BIOAQ)

[1manband]

We know BioAmber stock has not been pulled or replaced from the market and is still selling.

That is because neither the SEC nor FINRA have the legal or regulatory power to stop it from trading until the conclusion of the bankruptcy. BIOAQ shares will continue to trade until the liquidation is complete.

I am sure everyone who has invested in this stock has already read the SEC Bulletin about bankrupt stocks, but here it is again:

"A company's securities may continue to trade even after the company has filed for bankruptcy under Chapter 11. In most instances, companies that file under Chapter 11 of the Bankruptcy Code are generally unable to meet the listing standards to continue to trade on Nasdaq or the New York Stock Exchange. However, even when a company is delisted from one of these major stock exchanges, their shares may continue to trade on either the OTCBB or the Pink Sheets. There is no federal law that prohibits trading of securities of companies in bankruptcy."

And don't forget:

"Note: Investors should be cautious when buying common stock of companies in Chapter 11 bankruptcy. It is extremely risky and is likely to lead to financial loss. Although a company may emerge from bankruptcy as a viable entity, generally, the creditors and the bondholders become the new owners of the shares. In most instances, the company's plan of reorganization will cancel the existing equity shares. This happens in bankruptcy cases because secured and unsecured creditors are paid from the company's assets before common stockholders. And in situations where shareholders do participate in the plan, their shares are usually subject to substantial dilution."

https://www.sec.gov/reportspubs/investor-publications/investorpubsbankrupthtm.html