News Focus
News Focus
Followers 2581
Posts 328781
Boards Moderated 23
Alias Born 04/12/2001

Re: sdtke272 post# 62325

Sunday, 07/25/2004 10:19:57 PM

Sunday, July 25, 2004 10:19:57 PM

Post# of 359151
And, of course, there was that ominous short selling scenario. According to the SEC, the claims of naked short selling were in effect a smokescreen for the Universal Express shares that Altomare and his associates were surreptitiously dumping on the marketplace. The Commission also confided that Altomare and Universal Express had not produced 11,000 to 12,000 pages of documents relating to short selling in response to SEC subpoenas, as the Company has been claiming. In fact, the SEC insisted that only 295 pages were produced, "none of which provided evidence that investors or brokers were intentionally failing to deliver Universal shares in connection with "naked short selling."

http://www.axcessnews.com/microcap_032804.shtml

Discover What Traders Are Watching

Explore small cap ideas before they hit the headlines.

Join Today