NorthWest Biotherapeutics Inc (NWBO)

[Poor Man -]

That’s an excellent point W. Shares are held by DTC in trust (hence the “Trust” in its name). Shareholders are not holding shares, they’re holding in effect contractual rights to those shares that exist in custodial accounts. It’s DTC’s job to manage the clearance and settlement process, and are responsible (and legally liable) for delivering those shares they hold in trust to shareholders at the appropriate time.

DTC has real time information on FTDs and naked short positions, and will act to address those issues when there are violations. DTC is the responsible party in all of this. I suspect that’s why CohenMilstein hasn’t brought a naked shorting claim, because they understand the system.

And that’s why this whole Wes C stuff about naked shorts and offshore accounts is just out of the Steve Bannon School of Business.