Lehman Preferred Series "J" Preferred (fka LEHJQ)

[Mustang66]

Here is the summary of my complaint I sent into the SEC (I know it went right back up but I am pissed):

LEHJQ was trading at .186 on the bid x .20 on the ask. The current price was .186. NITE was sitting on the Ask and DOMS was on the bid.

At 11:17 am , a 75,000 share transaction took place at .12/share. There never appeared a .12 bid on L2. 15 seconds prior to the .12 transaction the stock traded at .186 on a sell. Immediately after, about 2 minutes after the .12 transaction, the price immediately went to .19.

Although this appears to be maybe a market sell, I believe that if the current bid is higher, wouldn't the seller get best price? At the time the bid was stacked with two at .1864 and another at .1863. The next lowest bid was .11. The ask was .20.

In my opinion this was a cooked up transaction between DOMS and NITE and was pure MM manipulation. I would be very interested to see if this was a retail sell from an actual shareholder or a tranaction between MM's from their holdings.