EarnestDD - "Brokers encourage clients to get rid of scams like RCCH, no value and no liquidity. jmo"
Just what exactly are you suggesting by your "get rid of" post? Can you please be a little more specific?
Contrary to posts on this message board that 'Naked' short sellers don't exist the U.S. Supreme Court seems to believe that they do.
‘Naked’ short sellers squeezed by Supreme Court "In a sweeping blow to Wall Street investment giants, the U.S. Supreme Court today unanimously allowed lawsuits against "naked" short sellers in state courts to proceed."
I intend holding my RCCH shares in my Roth IRA account until we have transparency and clarity. The high court ruled unanimously that shareholders are not confined to federal court when seeking recourse for securities violations by either naked short sellers or fraud by immoral company directors/CEOs. If shares have been gotten "rid of" as you seem to suggest than those investors who followed your vague suggestion would not be able to benefit from any possible future judgment in their favor. Or any possible benefit (however small) in the unlikely event of the RCCH shell being acquired.
Possible claims against CEO Gene Newton could include Racketeer Influenced and Corrupt Organizations (RICO) Act along with common-law claims for unjust enrichment, interference with economic advantage and contractual relations, breach of contract, breach of the covenant of good faith and fair dealing, and negligence. The Supreme Court ruling could allow RCCH investors to have their day in state court. CEO Gene Newton has tried to shield himself from legal action by silence and minimal activity. But he does file in Colorado every year and many investors had phone conversations and emails from him in the past.
Of course, anyone with a individual tax situation may want to evaluate their own circumstances and act accordingly in their own self interest.
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