In the case of TEVE, where it it reported Gerry Lenfest now owns more than 90% of the outstanding shares, it wouldn't take much effort to take the company private and cancel the outstanding shares, FINRA or no.
Once it is private, if Gerry wished, he could then re-IPO the company on any exchange in the world he wished. While I am not very knowledgeable in such matters, I am sure the maneuver could be structured to roast the MM's. The only question is whether that could be done without damaging the small shareholders outside of Telvue itself.
Such an action would be unprecedented, as far as I know, and, could well reveal the exact number of short shares that were sold, and by which MM.
Just my opinion.
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