No, I'm unaware of any case, and I should have been more precise in my response. Sorry. Securities fraud claims must be filed within 2 years after the harm was or should have been discovered. so seeing as how they've been delinquent for over 4 years, I would expect that no action could be taken. It isn't OK, of course, but shareholders have to assert their rights to updated performance information way sooner than 4 year. Hope that clears it up.
He may not have expected the revocation, the game has changed a bit and I expect the recent flurry of activity by the SEC might have caught some off guard. I'd have to dig further into the filings for this company to fully understand what they've been up to and will sometime soon. Seem to have time since the stock is essentially dead right now.
I swear I’ll never use the phrase “you can’t make this stuff up” ever again after being on the OTC. Apparently you can.
