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Re: scion post# 998

Saturday, 01/24/2009 8:34:15 PM

Saturday, January 24, 2009 8:34:15 PM

Post# of 1593
yep, same David Stocker, the LBWR Securities Attorney for 2005 until the middle of 2007



Usually, companies that want to sell stock to the public must register with the SEC and disclose financial information. But the Fishers used a legal shortcut that allows a company to make a limited offering to certain investors.

Those shares usually are labeled "restricted," meaning they cannot be immediately resold to the public and have to be held as a long-term investment. But Arizona securities lawyer David Stocker drafted a legal opinion that asserted the stock wasn't restricted, giving the investment firms millions of free-trading shares.

The SEC says that legal opinion was false and a scheme to get around securities laws.

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