I think your mistaken...The dtcc/sec are in bed together and there would be consequences, expensive, and no hope of a victory if history repeats itself..good luck, michael http://www.dtcc.com/news/press/releases/2006/whistler.php =============================================================== This order is the fourth time in the last year that a court has ruled that plaintiffs are not permitted to sue DTCC or its subsidiaries for carrying out functions that are regulated and overseen by the SEC. These are among a number of suits that have been brought, largely by bulletin board traded companies, who seek to blame their poor stock performance and failed business models on DTCC and the national market system for clearance and settlement. To date, except for one case where DTCC's dismissal motion is pending, all of the cases either have been dismissed by the courts or withdrawn by the plaintiffs. ================================================================ In February 2006, the SEC filed a "friend of the court" brief in support of DTCC in one of the dismissed cases, Nanopierce Technologies Inc. v. DTCC, urging the Supreme Court of Nevada to affirm the lower court decision dismissing the case. The Nanopierce case, which makes identical claims to those in the Whistler action, is pending on appeal before the Supreme Court of Nevada. The SEC brief can be accessed at: http://www.sec.gov/litigation/briefs/nanopiercesecbrief.pdf. Additionally, in a May 12, 2006 follow-up letter to the Supreme Court of Nevada the SEC wrote, "Plaintiffs' claims are preempted because evaluating these claims of alleged defects has been entrusted by Congress to the [SEC], not to state courts."
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