young-n, it is exactly why Atty Glenn's comments
and legal response, along with a Dateline exclusive will be more powerful than anticipated, which is to our gain!
Some of the possible offenses include:
The unexplained huge trade blocks from out of nowhere.
Freezing of the ask at .0004 day in and day out, even though 90-97% daily buys are going through for ~ 6 weeks now.
Signals (100, 200, 300, 400, 500 & 911?) that may be a form of collusion between Market Makers.
Any form of naked short selling, which is a gross offence of artificial manipulation.
Misuse of LEGAL SHORT SELLING practices.
Hiring of paid bashers and pumpers to lie, defame and libel a company or it's employees in an attempt to mislead investors or commit fraud in order to profit. Pumpers set up market expectations and price, only to have the bashers manufacture lies and doubt. In turn, trading is slowed to a crawl or halted to try to create a small or large selling panic in investors. The result is a profit for their short positions.
And I'm sure many could add more to the list. I pray those that have the power to rectify this situation, notice our dilemma.
One and all, there is an elephant in the living room.
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I haven't seen the docket on John O'Quinn's current suit. The last I understood about 1 month ago, it is only in the early stages of litigation. There are simply too many plaintiff's to manage in his case. He has companies which may or may not still be in business, so record collection and info verification is going to be sketchy and difficult. Company officers from the company's may be hard to reach, and because of the large number, cross-examination by the defense will have many targets to shoot at. From my understanding, the case has just been consolidated and an amended complaint by the plaintiff has been filed. Like I say, I haven't followed the docket, so I'm not sure on the status or ruling of peliminary objections the defense may have filed.
Zen...I'm not sure if you have been privy to the docket as of late to determine if the defense has filed an Answer or any other pleadings yet.
If not, there is a long way to go on that case. The next phase of the trial would be discovery. With the mass of plaintiffs and records involved, O'Quinn's task is daunting and he may run into problems on the technical end of his case.
In contrast, Atty Glenn has what may be the best singular example of naked short selling in CMKX. His focused case, plus exposure from any Dateline story will result in a more focused effort than Atty Quinn. In comparing the trading records at given points in time versus the actual amount of shares issued at that time, he may have a prima facie case. Of course it is his choice whether to attempt to meet the duties of proving a prima facie case. He has the choice to proceed with a regular evidenciary trial, or settle this matter with the MM's out of court at least regarding any civil damages and changes in trading practices. The criminal matter may still stand with penalties if those arraigned are found guilty.
This issue is a big. We see it every day.
Let's shake up the world and make it right. : )
Be well, Bo
AI
