can you please give me a legal opinion.....
ACCR in 2007 filed a 15d with the SEC. the 15d sought exemption from the duty to file reports under section 15d-6 which states there must be less than 300 shareholders in order for the exemption to take effect. in 2007 ACCR had more than 300 shareholders per the transfer agent. as a matter of fact, closer to 450 at the time.
does this mean that the form 15 was filed in error? and that the issuer still has an obligation to file reports? and thus has a chance to come back?
can an issuer file a withdraw request of the erroneous filing by past management?
i've been trying to get some opinions on the matter.
take a look at that and please advise.........
ps- can you also tell me what would happen if in 2007 the CEO of that company issued himself 250,000,000 unrestricted block of stock, but later it was cancelled by new management....would that cause a problem if anyone sod shares hedged against that 250,000,000 share issuance of stock?
