Good morning,,,Well to address WYPH It seems that certain people that are no longer affiliated with the company..were in fact doing a pump and dump scam to the company.These people are in fact being investigated for the scam and are going to be brought up on criminal charges by the company and the SEC when all is said and done..HERE IS ONE OF THE POSTS FROM THE COMPANY
WayPoint Biomedical Holdings, Inc. Files Lawsuit Against The Depository Trust and Clearing Corporation (DTCC)
Monday June 25, 7:00 am ET
HUNTINGTON BEACH, CA--(MARKET WIRE)--Jun 25, 2007 -- WayPoint Biomedical Holdings, Inc. (Other OTC:WYPH.PK - News) has filed a lawsuit against New York-based The Depository Trust and Clearing Corporation (DTCC) and its subsidiaries. The lawsuit claims damages as a result of DTCC's refusal to comply with a subpoena request for documents that are needed by WayPoint in order to track trades in the company's shares by certain individuals and companies who have been named by WayPoint as defendants in a pending action in the Los Angeles Superior Court.
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The Los Angeles Superior Court action seeks to expose a scheme by holders of WayPoint's common stock to engage in a "pump and dump" with respect to the shares. WayPoint claims that the shares held by the defendants named in the Los Angeles Superior Court action should have been cancelled as a result of a prior corporate merger or returned to the company in a 2006 share buy-back agreement.
DTCC refuses to disclose the identities of the traders in WayPoint's shares, claiming that such information is not "available." DTCC has refused to comply with a "commission" issued by the Los Angeles Superior Court for protection of the needed records. WayPoint seeks consequential and incidental damages pursuant to California law that specifically authorizes a civil action for money damages resulting from a failure to comply pursuant to a subpoena.
