The Billion Dollar Class Action To Stop Naked Short Selling In Canada
AGORACOM IR
Mar 29, 2024 Naked Short Selling has cost Canadian junior mining companies $40 Billion - and that number balloons to over $500 Billion when you include all Canadian small cap companies - according to Terry Lynch.
Terry Lynch is the CEO of Power Nickel and the co-Founder of "Save Canadian Mining", the small cap stock advocacy group backed by industry giants such as Eric Sprott, Keith Neumayer, Robert McEwen and multiple sponsors who have worked tirelessly and given generously over the last 4 years to conduct research, create reports and meet with key government officials & regulatory bodies … for the singular purpose of putting an end to the devastating practice of illegal short selling in the Canadian small cap market.
BLACK FRIDAY
A few months back on Black Friday, the team behind Terry grew even bigger and better with the addition of Wes Christian and David Wenger to host a live webcast discussing the problem at greater depth, including new case law that opened the door to holding Broker-Dealers liable for failing to fulfill their "Gatekeeping Responsibilities" of monitoring client trading actions.
Over 1,500 small cap companies and industry participants were in attendance, further demonstrating the gravity of this potential existential threat to Canadian small caps.
GOOD FRIDAY
If that Black Friday webcast was the low point of frustration, anger and despair in the small cap world, today’s Good Friday video is the good news turnaround point (dare we say resurrection?) because Terry and his team have not only discovered the shocking mechanism to facilitate the firehose of naked short selling - but along with it the specific actions now required to be taken by the small cap industry to stop it, including a mass grassroots publicity campaign culminating in a Billion Dollar class action lawsuit.
POLITICIANS WILL GET WEEKS NOT MONTHS
Save Canadian Mining plans to present this new and final evidence to the Doug Ford administration in order to give them the opportunity to act. But when asked how much time SCM will wait for concrete action Lynch responded “Weeks Not Months”.
Lynch added “I want Doug Ford to be the hero. But they have to wake up because we are not waiting”
THE BILLION DOLLAR CLASS ACTION LAWSUIT
In the meantime, the march towards the Billion Dollar class action lawsuit has begun and will not stop. Lynch wouldn’t provide the names of specific targets for strategic reasons but he discusses why just 10 companies will be needed to begin the class action (3 are already confirmed) and how companies can contact him to round out the slate.
THE PLAN TO MOBILIZE OVER 1,000 SMALL CAPS AND THEIR INVESTORS
While the class action ramps up, we have put together a plan to mobilize over 1,000 small cap companies and their investors with collateral that has already been drafted and only requires company specific personalization including:
- Letter to shareholders - Press release - Social media posts for all platforms for companies AND shareholders
The goal? 100,000 posts
Thank you for now taking the time to watch this video and please be sure to share it with your networks across all of your social media platforms.
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