Replies to post #52040 on NaturalShrimp Inc (SHMP)

[Steady_T]

Island takes issue with the SEC's claims and is going to fight them.

You may or may not have heard that Island has recently been sued by the SEC, where the SEC is alleging violations of certain federal securities laws. While we, Island, its employees, and principals, are deeply distraught over the SEC's decision to pursue these allegations, we, in fact, believe the case is both legally and factually flawed and is, in our opinion, an over-reaching attempt at prosecution by the SEC's Division of Enforcement. Given that, it should come as no surprise that it is our intent to defend the case in the federal court system, rather than take the easy way out and negotiate a settlement with the SEC, even a settlement that would permit Island to "neither admit nor deny" the SEC's claims.