Sirius XM Holdings Inc (SIRI)

[pinky40]

Below is from poster cubfantex on the SIRI Yahoo MB. Please email the DOJ:

Send email to: [e-mail]
Attention to: Assistant Attorney General Lanny A. Breuer of the Criminal Division
U.S. Department of Justice
950 Pennsylvania Avenue, NW
Washington, DC 20530-0001
202-514-2601

Mr. Breuer,
My name is ____________. I am one of millions of individual retail shareholders of Sirius/XM radio, ticker symbol SIRI. Sirius/XM is one of the most widely held stocks by individual investors in the U.S. stock market due to it’s top 5 quantity share float of 3.9 billion shares. So when something happens to this particular stock, many individual U.S. citizens are affected. Part of that is the risk in investing in equities and is generally understood by retail investors, but sometimes the effects are caused by elements, which seem very questionable. This is the reason I am contacting you.
Sirius/XM’s stock is widely known as a stock with many concerned shareholders due to questionable activity over especially the past 18 months. Below you will see a link to a movie produced (‘Stock Shock’) which highlighted these concerns. While the movie covers many topics and not necessarily in the fashion I would address them, I’m sending you this link so that you can get a sense of the tone and concerns over the past 18 months to merely serve as some background.
Most recently, and well after the release of the movie, in the past few days, the retail shareholders have seen possibly the most obvious questionable practice to date relative to Sirius/XM’s stock. Due to many reasons, the significant dip in the U.S. economy and dip in institutional lending, Sirius/XM’s stock price began to come under tremendous pressure roughly 18 months ago. This culminated in the stock reaching a price of 5 cents per share in February 2009 and a possible bankruptcy. To make a long story short, bankruptcy was avoided and Sirius/XM stock has recovered in value albeit slowly over the past 12 months. However, there is a NASDAQ rule that expresses that if a stock is below $1 per share for a specified time that it may be subject to de-listing. The timeframe has a deadline line and in this case it was March 15th, 2010. The rule expresses that the stock must achieve a closing price of greater than $1 per share for 10 business days prior to the expressed deadline to avoid de-listing.

On February 25th, 2010, Sirius/XM’s stock reached its 7th straight business day over $1 and looked to be well on its way to achieving its 10 day run and avoid de-listing. However, the following events occurred which had a dramatic effect on Sirius/XM’s stock and by March 1st, 2010, Sirius/XM’s run ended just 2 days short of compliance. Not only did it end, but in dramatic fashion. As a retail shareholder of Sirius/XM stock and a believer that confidence in our financial markets is paramount and ethical behavior of those most in a position to exert influence is essential, it’s my hope that you will review this information and investigate who may have benefited most from this failure of Sirius/XM’s to remove it’s de-listing concern and who may have illegally precipitated this action. Please see the information below. I thank you in advance for you time in looking into this matter.

February 25th, 2010, Sirius/XM’s (SIRI) stock price closes at $1.07 (day 7 of compliance)
February 26th, 2010; Wall Street Journal speculates in an article “SIRI may only be worth 25 cents per share”. SIRI stock price reaches a low of 98 cents of share, dropping below $1 for the first time in 7 days, but closes at $1.02 per share (day 8 of compliance).
http://blogs.barrons.com/techtraderdaily...
March 1st, 2010, Wunderlich Securities (Matt Harrigan) Downgrades SIRI from Buy to Hold, just 3 business days after SIRI announces positive earnings for the first time since its merger with XM radio. Speculating that car sales may be as low at 9.6 million units in 2010, just one day before actual car data is made public and represents a 10% increase over Wunderlich Securities speculation. SIRI stock more than 12% of its value in one day and closes at a price of .89 cents per share (day 9, compliance period disrupted with just 10 business days left till de-listing)
http://blogs.barrons.com/techtraderdaily...
http://www.thestreet.com/_yahoo/story/10...
http://www.fool.com/investing/general/20...
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General information: SIRI historical short interest at 66M total through Feb 12, 2010:
March 1st, 2010, SIRI short interest on the single day March 1, 2010 was 102M shares
March 2nd, 2010, SIRI short interest on the single day March 2, 2010 was 144M shares. SIRI stock closes at 89.5 cents per share.
March 3rd, 2010, Sirius/XM can no longer achieve compliance prior to March 15th deadline.
March 3rd, 2010, Wunderlich Securities (Matt Harrigan) Upgrade of SIRI. Just 2 days after their downgrade. SIRI stock closes up 7% at 95.33 cents per share.
Wunderlich Securities (Matt Harrigan) interviewed on BlogTalk Radio on March 3rd, 2010 (music for first 2 min, important segment at 15min 20secs, important segment 38min 20secs):
General Information: The Movie ‘Stock Shock'


Thanks for your time.

Sincerely,

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