The SEC's role is to protect the public in general - investors at large - the community of people who may be exposed to frauds like Moskowitz and Metter. It is shareholders' duty to protect their own interests.
BTW, do you know the statute of limitations for a private shareholder lawsuit for SPNG, right? Shareholders were put on notice the day the stock was halted - and certainly by the time the first SEC complaint was filed or Moskowitz and Metter were arrested and the indictment handed down.
Check your calendar - I think you are very much too late.
BTW, where's the proof of even 50,000 shares of NSS, let alone billions?
Sounds like you came up dry on the NSS. The court will do nothing, BTW - either shareholders sue the company (but I believe it is too late - check the SOL) or they lost that right when the statute expired.
The SEC is only interested in the 51 who directly acquired the shares Eisernberg moved - and the SEC is interested in that because the $2 million restitution that Eisenberg is dinged with would go to those who directly bought shares he controlled/sold illegally.
And the DOJ will specify (in conjunction with the SEC) the amount Moskowitz is liable for in the pre-sentencing brief (last count was $52 million). Likely they will raise that number for Mosky and then Mosky's lawyers will file an opposition broef arguing that it's too high.
This is important because the amount of the fraud goes directly to the calculation of Mosky's setntencing guidelines sentence range - the more money, the higher the points and the longer the sentence.
The last fraud of this sort I followed was Conversion Solutions (CSHD) where the CEO and CFO defrauded $42 million. They got 22 and 16 year sentences, respectively. They just lost their appeal on 06 January 2014, BTW. Now they're in until 2031.
AI
