I am confused by your first part... "it would appear that an ongoing investigation is under way, but ONCP is not named as a defendant by the SEC"
GENDARME CAPITAL CORPORATION, IAN LAMPHERE, EZAT RAHIMI, and CASSANDRA ARMENTO are defendants in this lawsuit because they manipulated stocks from several different companies, one being ONCP.
As for the second part: it is hard enough to read the dribble of ONCP financial statements. There are several different mistakes including the share count. Funny thing is that ONCP put out a PR "correcting" the share count and then changed all the numbers again when they submitted another financial statement. Thus, the management of ONCP, probably know, and went along with what was happening.
I do not feel that the SEC was going to include ONCP in this larger case. However, Gendarme may use ONCP as an example that management knew what they were doing and did nothing to stop them. In ONCP defense, they have the "Attorney Letter with Respect to Current Information" letter, suggesting that another attorney did check the records and did not find what Gendarme was up to. That it was so well covered up by Gendarme that no one from the company or a third part could see it. I do not think so.
Time will tell what happens to ONCP
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