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Post# of 114953
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matrix

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matrix

Re: 4Godnwv post# 28935

Monday, 01/01/2007 11:58:30 AM

Monday, January 01, 2007 11:58:30 AM

Post# of 114953
OT: USXP's lawsuit wasn't even about naked shorting. Altomare attached the term a couple months after receiving the second judgment in late 2003. Prior to Sep 2004, he doesn't mention NSS in his SEC filings w/ respect to the case. Here's a summary of what the complaint was actually about: http://verdictsearch.com/news/specials/0204verdicts_universal.jsp Taiger and South Beach were also sued for fraud, conversion, and failure to honor funding commitments not naked shorting.

IMO this was good to post because USXP's CEO was one of the early pioneers who helped kick off the irrational NSS mania many penny players blindly embrace up through today. He got involved w/ some bad guys who allegedly drove the stock's price down but not thru naked shorting.


As for PYPR, the short interest and SHO list clearly indicate naked shorting is not an issue here. At best, the total amount is very tiny.

-----
"We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."
-- Warren Buffett

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