Who is spamming I already made a tone of money LOL
What I said is that its an interesting stock to watch,
at the current price its a little risky. I bougth at 0.0001
As for the 5 years from the date of stock fraud its true but not entirely correct.
"Last time I looked, there was no shortage of class-action plaintiffs' lawyers"
Claims and Defenses Under the Securities Act of 1933
Section 11 provides for a private right of action, based on strict liability, for fraud in public offerings. A plaintiff must have bought a security, which was issued pursuant to a false or misleading registration statement. A registration statement is false or misleading if any part of it contains an untrue statement of material fact, fails to state a material fact required to be disclosed in the statement or leaves out a material fact that is needed to make the information in the statement not misleading. Section 11(a) lists the categories of potential defendants: individuals who signed the registration statement; directors or partners at the time of the filing; individuals who agree to be named in the statement as being or about to become a partner or director; experts who agree to be named in the statement as having prepared or certified the filings; and underwriters. Control persons and co-conspirators may face secondary liability. Section 11(e) sets forth a scheme for damages.
A plaintiff's knowledge of a falsity or omission in the registration is an affirmative defense under Section 11. A defendant may also escape liability if it can establish that the plaintiff's damages were caused by other factors besides the misrepresentation or omission. A person's resignation from the role described in the registration statement and advising the SEC and issuer in writing that he or she is not responsible for the registration is a defense. Due diligence and good faith are also defenses.
Sections 5 and 12(a)(1) establish a private right of action when a plaintiff buys a security that is not properly registered under Section 5. Section 12(a)(1) provides for strict liability; the plaintiff does not need to show any negligent or intentional conduct by the seller. If the plaintiff is successful and is still holding the security, upon tender of it, the plaintiff can recover the money paid for the security and interest. If the plaintiff no longer owns the security, he or she can recover damages and interest.
The exemptions from registration outlined in Sections 3 and 4 of the Securities Act provide affirmative defenses. One of the most significant is Section 4(2), which provides that transactions by an issuer not involving a public offering are exempt.
Section 12(a)(2) establishes a private right of action for fraud in the sale of securities. A person who buys a security can bring suit for a misrepresentation or omission in a prospectus or oral communication. "Prospectus" is defined as any notice, circular, advertisement, letter or communication that is written or broadcast through radio or TV that offers a security for sale or confirms the sale of a security. The plaintiff must prove that he or she did not know of the falsity or omission and the defendant has the burden of establishing that it did not act negligently. Section 12(a)(2) provides for rescission or damages if the plaintiff no longer owns the security.
Section 12(a)(2) establishes that it is an affirmative defense if the party can prove that he or she did not know, or by using reasonable care could not have known, of any falsity or omission.
Section 15 establishes joint and several liability for control persons for the acts of the people they control who are liable under Sections 11 and 12. Good faith is an affirmative defense and the defendant has the burden of proving good faith.
