Replies to post #97215 on RCC Holdings Corp fka RCCH

[EarnestDD]

The Gendarme case is FAR from over. Its going to get ugly for Gendarme and could expand to include RCCH as Gendarme rolls on everyone they can to get a reduction in fines, penalties and disgorgement.

And YES, the SEC's answer to Gendarme's motion to dismiss definitely says Gendarme PURCHASED shares.

50 opinion letters, 12 issuers ... multiple issuances per issuer.
Gene had to KNOW what was going on here and aided and abetted.
jmo

[frogdreaming]

The filing by Gendarme to dismiss part of the charges against them (posted by Earnest) and the SEC response to that filing (posted by Anvil) provide an answer to one of the big questions debated on this forum. The 'ugly' part is, with that question answered then the house of cards come falling down.

Ever since the first filing of the SEC complaint the loyal longs have tried to claim that the 2.1 billion shares sold by Gendarme were in fact 'short' or 'air' shares and were not obtained frm RCCH. These filings put that fantasy to rest. The SEC (and Gendarme) agree the shares were bought from the company.

With billions of shares in the float then all the fantasy explanations for the low pps go out the window. There is no need for naked shorts, MM games or any other nefarious conspiracy, billions of shares sold by the company into the float will drive the pps down on any stock in the world.