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nodummy

05/25/16 6:45 PM

#108450 RE: janice shell #108448

The simple solution is that there should be a rule that a custodianship petition for a publicly traded entity should include a letter from the SEC approving the petition in advance before it is admitted to the courts. That way the shell hijacker is forced to contact the SEC first and the SEC is forced to look at the zombie ticker and be given the opportunity to revoke its status as just that - a zombie ticker.

Just like that a very cost efficient way to prevent fraud on abandoned tickers. Even saves the SEC the trouble of having to find the zombie tickers themselves.