As I opined earlier, I don't think the unregistered scenario works.
As Jay, who has thankfully regained his native tongue in this thread and dropped the Stoxmagixian pointed out, Pike would've been aware of the limitations on any restricted shares that he was issued. And only the most misguided attorney would've suggested that he buy shares in some kind of cover-up or act of contrition.....or for any reason.
So, again, it makes no sense to me.
BUT, the answer to " What would it have benefitted SPNG to then send him an opinion letter to have the legends lifted?" isn't that difficult if one were to accept the nefarious nature implied by this exercise. To put it simply, one of these shaky opinion letters could have been promised to Pike as an incentive to invest in the first place.
But, one more time.....I ain't buyin' it.
"People just don't go purchasing millions of dollars on a "sinking ship!" with every red flag a publicly traded security could possess!"
Yeah, sometimes they do. I don't, but "people" do.
