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Sunday, January 28, 2024 7:00:46 PM
To me, it’s plain as day. Calasse was involved in a fraud and that alone rules out any possibility of this working out in his favor. Unless you assume that the SC only cares about extremely minor details and not the entire context of the case, including previous misrepresentations of material fact that may have been made by Calasse himself?
Common sense would tell me that a fraudulent pump and dump scheme without an SEC registration statement the abandonment of fiduciary duty to the shareholders by the CEO, and no value received for the shares is more than enough to make this case null and void.
Different perspectives and cognitive biases I suppose. We will find out soon enough.
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