PLEASE FORWARD THIS TO WHOEVER IS RUNNING THE INVESTIGATION INTO RECENT ILLEGAL TRADING ACTIVITY.
Good morning,
I would like to help you by giving some insight into some of the things you will be up against in your investigation.
First, requesting SHO list information from the SEC under the FOIA will be a complete 90 day plus waste of your time. Your request will take a minimum of 3-5 months to get a response and the data you will receive will be 5-6 months old. They will cite that to give any more current info will detrimental to the naked shorters as it will reveal "proprietary trading strategies". It is an absolute stone wall which many have bludgeoned their heads against before you.
You will be much more successful requesting a Beneficial Owners List (NOBO) as the data you are looking for will come to you much quicker and will itemize for you what brokers are crediting securities in their customer's accounts and how many are being credited as opposed to how many certificates they themselves have in their possession. It will get you to the culprits much faster as, for example, Etrade may be crediting 2 million shares to their customer's accounts and only actually holding 500,000 shares overall. This is the kind of detailed data you are really looking for.
Remember. This is not the naked shorter's first rodeo. It is, however, most likely yours. These guys are pros. They eat companies like yours for a mid morning snak and then go buy a diamond studded skull at an art auction in the afternoon. May I suggest that you spend some time with the legal eagles over at OSTK and FFH. I mean some real, quality time. Those guys are actually beating the naked shorters and would probably love to help you.
With 4X your float traded in just three days, you have now been introduced to the game. It is now time for you to be introduced to the players.
You will benefit yourselves greatly and others in the same boat by publicizing everything you find. This problem needs all the sunshine it can get.
I can be reached anytime @ ###.###.####
Bruce
