I've been an attorney since 1983 and that's not me in the photo :). Thanks for clarifying your argument. I don't agree with it but it is relatively straightforward.
I'm not a litigator but I did meet with Wes Christian and the late John O'Quinn about 10 years ago when they were first coming up with the idea to sue hedge funds that were naked shorting penny stocks in which they owned toxic convertible debentures. Some brokerage firms were targets then, too. My firm declined to get involved with the cases but it would have been fun. Wes is still fighting the fight, with not much success.
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