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Friday, October 30, 2009 9:35:24 AM
I remember that notice too, but can't find it now. I did find this one:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=42151013
My read on both are that at that stage of the proceedings, it would be impossible to identify all the victims in those documents.
"The victims of the wrongful conduct are the investors
in Issuers Enzyme Environmental Solutions, Inc., Cross Atlantic Commodities, Inc., Revenge Designs, Inc. and International Power Group, Ltd. whose ownership interests were diluted by the issuances of Issuer stock in unregistered offerings and those investors who purchased Issuer stock without the disclosures required by the registration provisions. Given the number of shares issued in the unregistered offerings, it is impractical to list the victims by name."
Determination of all shareholders involved requires a lot of time, but the only fair remedy is for any ill-gotten gains be paid proportionally to all shareholders in the time frame of the incident.
If you buy your first shares today, for example, then you should not gain from the method you suggest. Buy back of shares doesn't solve the remedy to those that were hurt by the action. If you have ever been involved in a class action distribution, you may remember having to fill out forms which include the dates bought and sold and the quantities so that the proper weighing of available monies can be distributed. Thanks for your perspective and glta on this. ...dog
All statements are just my honest opinion!
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