I'm sorry to take this position,,, BUT, how can he lose? If he didn't authorize/create/print or distribute these alledgedly fraudulent the shares? Then he must win Because they are in existence. He is contending that he and the other "original share holders" (predating the inception of the alledged fraud). should not be made to suffer losses that would be associated to accepting these shares into his OS. The amount of dilution to those "original shareholders" would huge, and unfair to them. If he didn't produce the shares he wins. IMHO.
But that doesn't make us losers. We must look to those who are responsible,, And that is our BD's and the MM's that they used to aquire the alledgedly bogus certs, and the clearing house/DTC.
The question really is, who is going to pay to replace my(if deemed to be fraudulent) shares?
EOM
