Now imagine if management was informed that the SEC was launching a formal investigation and were notified by the SEC of this... and then the insiders start blowing out a bunch of stock.
oh oh........
What everyone here has to understand is tha this started out as a FINRA investigation. FINRA reserves the right to refer a case to the SEC if they believe laws were broken.
Guess what? They referred it to the SEC. Do you really believe the SEC simply halted trading without letting the company know? They do when they believe the issue is so serious that they must halt trading immediately.
But usually the SEC sends the company a notice with a list of questions so management know what they were asking about....
Smells to be like they knew they were going to all get into some sort of trouble and tried to take some cash off the table.
But we will all find out shortly.... and hey, if it is criminal the stock my not even make it to the grey market anytime soon......
Once the SEC files charges it will be in the Edgar database, then you can read what the charges are and why they were charged.
I also think the SEC is looking at who got issued stock and for what reasons... and also if someone got stock, sold it and put it back into the company... nothing wrong with that except if it was pre planned... that my friends would be an illegal offering and sales of stock. Nasty, nasty my friends
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