Polar Petroleum Corp. (POLR)

[DragonBear]

Funny you don't put that the company is doing what the sec wants and that they know nothing about the complaint...

Whoa there cat person (I prefer dogs)...

The company knows everything about the SEC reason for suspension. They may not know how much evidence the SEC has...yet. What is unusual is this is the first one where I've seen a company bother to issue a 8K, and tell the market they are under a "formal" SEC investigation, as opposed to an "informal" one. Most stay quiet, as in why bother telling the market anything? What's there to gain? Or make up stories, or even jump up and down at the SEC. We might have an example where on the advise of the lawyers the company is trying to come as clean as it can filing an 8K for a "material event", in return for mercy from the SEC (e.g. lower final fines)? Trying to show cooperation coming out of the gate. That's the only "choice" the company had to make. It does give one an idea of what a company receives on a suspension, other than the vanilla goop the SEC announces with a suspension. Interesting.

With the SEC granting its investigators subpoena power via a now formal investigation, as lucky says, the company has little choice, but to cooperate with the SEC. Unknown how many of these suspensions reach formal investigation status this quickly, but POLR sure did.