CMKM Diamonds Inc (fka CMKX)

[janice shell]

To say the SEC has been investigating Urban the whole time without informing the public is a no-no. To allow thousands of investors to purchase stock in a company that is "secretly" being investigated for MAJOR SECURITIES FRAUD would in itself drop major cow-dung in the lap of the SEC. At the very least, the SEC would have issued a press release revealing an investigation of some sort was taking place A LONG TIME AGO.

No. That's not how they work, and it's one of the things about them that I find most annoying. Sometimes they investigate a company for several years before pouncing. The companies aren't obliged to inform shareholders unless the SEC sent them written notice of a formal investigation.

And that reminds me: remember the--was it a PR or something else?--in which it was said specifically that CMKX had received no WRITTEN notice of any ongoing investigation? I said at the time that that could be significant, and suggested that perhaps an "informal" investigation was underway.