Replies to post #227714 on ERHC Energy Inc (ERHE)

[emdyal]

What if ,the next time around, they sell, let us say 50 million shares at depressed sp levels, is there really nothing in the public company listing rules and guidelines that would see the SEC compel management to disclose what they have perpetrated on the the shareholders ??? Can we legally be kept in the dark and at the mercy of an unscrupulous management ! I've asked this question before but there must be a point beyond which mismanagement and incompetency becomes illegal ?

[BuffaloTrader]

EHP: I asked a few people in financial circles and they quickly concluded that the only reason HDY disclosed Blackrock is it was required to do so. Since Blackrock now owns more than 10% of HDY's outstanding shares, it is an INSIDER. The SEC requires disclosure in such deals. ERHE's placement was 2% of outstanding shares and does not require the company or the investor to disclose it.