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Re: frank021474 post# 159552

Wednesday, 10/29/2008 1:04:55 PM

Wednesday, October 29, 2008 1:04:55 PM

Post# of 169274
Well, as the story goes, if you can PROVE that illegal naked shorts were the cause of harm to stock holders AND NAME the entity that perpetrated the fraud, then the stock holders of record would be entitled to 3 x's damages or something of the like.

What's missing? Rufus has not named a defendent or accused a named entity that was responsible for excessive NSS. Nor has Rufus proven a NSS ever existed. Maybe it happened. Maybe not. Either way, the onus is on Rufus or CSHD to bring charges against an entity.

Now, what about the damages caused by NSS? If I were representing an entity accused of NSS'ing CSHD, I'd use the recent action against Rufus and Company to show the court that it was NOT any NSS or short selling that caused the damage to shareholders. The damage was caused by Rufus pumping the stock and lying about assets which caused the stock price to plummet once folks started figuring it out followed by the SEC halt.

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