Big post. The judge can not give permission to the company to cancel their shares because it had a fraudulent trading which we are the victims. Finally, if there are institutions that have to do their job in this system, it's the SEC. They have no choice, they must ordered the company to reinstate theirs shares and identify the culprits. Justice must now speak.
As announced in RA #2008-027, the Securities and Exchange Commission (SEC) issued further guidance to protect investors against "naked" short selling: