Failing to get any help from the SEC, Universal Express was forced to sue some of the naked short sellers directly. The Company proudly obtained two Florida jury verdicts totaling $700,000,000 against the naked short sellers.
Huh? The lawsuit had absolutely nothing to do with naked short selling.
They sued Select Capital for not following through on a funding committment. In other words, Select Capital took the shares and never gave USXP any money.
They did short USXP stock but Tifford himself stated that they shorted the stock and used the shares marked for funding to cover their short and then they failed to turn any of the money over to USXP.
I believe USXP had years to create some value to the stock price but they never did.
I truly can't believe people are still trying to defend this company or Altomare.
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