Replies to post #23321 on Coates International Ltd. (fka COTE)

[Market_Stalker]

Look, I’m a lawyer. This guy committed securities fraud by making materially false misrepresentations (pump) so he could sell (dump) his shares on investors who relied on his claims. Hence, “pump and dump.”

17 C.F.R. § 240.10b-5.

To have violated Section 10(b) and Rule 10b-5, defendant must have: (1) made a material misrepresentation or a material omission as to which he had a duty to speak, or used a fraudulent device; (2) with scienter; (3) in connection with the purchase or sale of securities. See SEC v. Monarch Funding Corp., 192 F.3d 295, 308 (2d Cir.1999).