Replies to post #83787 on Decision Diagnostics Corp (DECN)

[plutoniumimplosion]

If the SEC files the documents on time, we should see the response in less than 2 weeks and possibly other news as well. The game is not over yet.

And in my humble opinion that will break 7-8 hearts.

[lucky, mydog]

SEC document doesn't even accuse KB or the company of illegal insider trading or stock manipulation

these proceedings are not about trading. they are about the suspension. as the sec has said in it's bulletins, an investigation may still be ongoing after the suspension is over. any charges about illegal trading would come as a "subsequent enforcement action". these proceedings only deal with the suspension notice itself and that is how the sec answered on the 20th.

DECN SEC Suspension "because of questions regarding the accuracy and adequacy of information in the marketplace since at least March 3, 2020. Those questions relate to, among other things, (i) DECN’s statements claiming to have “technology perfected” to allow it to manufacture and sell a COVID-19 test kit that would provide results “in 15 seconds, based on a small finger prick blood sample,” and (ii) DECN’s sales forecasts for the COVID-19 test kit that up to 525 million test kits would be sold in the first year of production."

there is nothing about trading in there.

[IPwatcher]

Actually, I was expecting something much stronger from the SEC filing. SEC document doesn't even accuse KB or the company of illegal insider trading or stock manipulation

Doesn't have to.
All it has to do is prove that KB made false and misleading statements in his PRs. That is plenty to justify the trading suspension, and that's all the SEC need to accomplish in this specific action. And it looks like Berman has given them a free pass there, with his manifestly contradictory statements, semantic weaseling notwithstanding.

Illegal insider trading or stock manipulation are much more serious allegations. Much harder to prove. Much more difficult to get evidence of. They may form the basis of ongoing investigations and potentially subsequent enforcement actions. I would be surprised if they didn't.
But the timeframe of an SEC suspension appeals process is probably not something the SEC would want to constrain themselves to in matters of such complexity. (This action ends July, come what may!)

Mention of the Access health case certainly makes it clear that the SEC consider Berman is not 'on the level' so to speak.