Has anyone here actually read the company's motion to dismiss filed with the court? it's quite interesting and I truly believe there are two sides to every story. Here is just one of the defenses in the SEC complaint accusing Deitsch of securities fraud and manipulation of his companies stock. This is all public record and I suggest everyone go read the entire response filed by NPHC.
"The manipulation claims against Deitsch are founded on allegations that he made a number of de minimus purchases of Nutra Pharma stock with the intent of trying to stabilize Nutra Pharma’s stock price against short sellers. Aside from the fact that a 100 share purchase of a twenty cent stock could not have the effect of “manipulating” a stock price, there are no allegations that Deitsch ever sold any of his own shares or had any “purpose of inducing the purchase or sale of such security by others” as required for liability under the anti-manipulation statute and, indeed, the Amended Complaint alleges precisely the opposite, acknowledging that his purpose in placing small orders was to stop the short sellers from damaging Nutra Pharma and its shareholders."
"To assert a claim under Section 9(a)(2), a plaintiff must show “‘(1) a series of transactions in a security creating actual or apparent trading in that security or raising or depressing the price of that security, (2) carried out with scienter, and (3) for the purpose of inducing the security’s sale or purchase by others ...’” Sharette v. Credit Suisse Int’l, 127 F. Supp. 3d 60, 78 (S.D.N.Y. 2015)."
"He was not placing trades for “the purpose of inducing the security’s sale or purchase by others,” he was placing trades to stop the short sellers from destroying Nutra Pharma’s stock price and impairing its ability to continue functioning."
