SEC did not lift the suspension because KMAG was wronged. In accordance with the Securities and Exchange Act, the SEC is limited to 10 day suspensions. At the end of 10 days the suspensions were automatically lifted and all 16 companies were relegated to the grey sheets.
"SEC stated not going to further pursue company."
Oh really, how do we know this? Because the CEO said that's what the SEC told him? I don't think so. In fact we do not know this to be true. It certainly is not a fact. Remember this is the same CEO who caused the suspension to occur in the first place.
Please provide a link to the SEC press release or announcement that demonstrates there will be no further action. SEC holds their cards very close to the vest. SEC is not about to signal the final outcome of this directly to an involved CEO. The range of actions could range from formal criminal and or civil charges to a hearing before an Administrative Law Judge or even (LOL) a no action letter.
But until the SEC acts, no one on this board (myself included) knows what the final outcome will be. But I certainly can find no evidence that the SEC has ever said "oops, we were wrong to suspend this company."
Believe what you want. IMO the deck is clearly stacked against KMAG.
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