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Monday, October 17, 2011 11:19:04 AM
Then I would like to know who sold those unregistered shares if that is the reason ........ that's all.
I also think that the current practice of just chilling a stock out of the blue is wrong.... An investor should be notified by his/her broker that this action will happen and allow some recourse. Right now there are no warnings issued before they just essentially take the access to your money away.
My only hope is that these actions will shake some of the bad apples out of the tree for good. If the problem is unregistered shares then lets find out exactly who is selling them and how.... Probably a high percentage of the scammers are the companies themselves. IMO
SFIO's case is strange though... We all here can assume that the company was under investigation for at least 2 years prior to the days that led to this lock. Mr. Roth even stated that unregistered shares were the reason for the lock.
Now how can it be the company that was selling unregistered shares if they were under investigation for 2 years? It just doesn't add up to me.
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