according to the rumors i'm hearing, there was a preliminary hearing on friday with the dtcc, and a more formal hearing today.
here's the million dollar question? if the sec tells the dtcc to drop the "chill", does the dtcc jump?
heard three answers from people who seem like they would know the answer, and yet 2 said "yes", one said "no". imo, the two saying "yes" would more likely know, plus the one saying "no", says the dtcc can just plain be stubborn, but would inevitably be sanctioned, and lose in a civil lawsuit - and therefore, would not go that direction.
now if the other rumors are accurate, and the sec is pissed at the dtcc, and telling them they are not justified in placing the "chill" in the first place, then hopefully, the "chill" finally gets lifted. rumor has it, they're pissed for two reasons, and this is admnistrative policy. according to these rumored administrative policies, the dtcc is supposed to give a company 5 days notice before a "chill" is placed, giving the company a chance to argue the situation. and also, the dtcc is supposed to contact the sec before a "chill" is placed, to make sure they got the facts correct - which in this case, they obviously didn't.
here's another twist. if ipwg says to the dtcc, "what do we have to do to get the "chill" lifted?" how can this not be solved?
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