Itsallinthemix, how come IPWG can't even update their website? The last PR listed on their website is from April 26th 2010. How pathetic! How much does it cost to have someone add a couple new entries onto the "news" section of their own website?
There was nothing illegal about it, and the hearing before the SEC wasn't even about that. Neither is it anything "huge" and only part of the continual process that is happening with the restrictions by the DTCC that is only getting worse for these pinky land stocks. As far as any "lawsuit", that's a joke, won't happen, and there won't be any money settlement from DTCC to this company. That talk is just a fallacy and maybe wishful thinking. One should really read through the entire case and understand what is going on there in the big picture.
All that IPWG got was SEC rules being further clarified and processes continued to be set up between the SEC and the SRO (in this case the DTCC). There wasn't any precedence and proper clarification by the SEC for this "unique" case. This has been an ongoing process and all that was determined was what the DTCC has been asking for from the SEC already (IE; at the SEC Roundtable where the DTCC represented request for more clarification of the rules already set in place).
Now the end result was that IPWG was remanded back to the DTCC with all the DTC processes that have been taking place and getting a lot more strict and more critical for the past year or so.
"ORDERED that this proceeding with respect to International Power Group, Ltd. be, and it hereby is, remanded to The Depository Trust Company for further consideration."
All those processes that many have been complaining about and in no way has been stopped by this SEC opinion. I would suspect it will only intensify in the future not in any good way for stocks like IPWG.
Also the SEC stated with that opinion and order;
"We do not intend to suggest any view on the outcome of this remand"
IPWG will have to come with some real game to be able to then appeal to the SEC after the DTCC doesn't restore services. All the DTCC has to do is apply across the board reasons that would include even the old reasons. In fact DTCC processes have already been being created and set up. If then the "company" has the balls to appeal, it does not secure any comfort that the SEC would in fact side with the "company". The historical stats are overwhelmingly that the SEC and the courts side with the DTCC.
But this company would really have to come in with some real game. This company is connected with ones that criminal charges and convictions of fraud and stock manipulations have come about after the original appeal. Along with continued and ongoing investigations by the SEC, Financial Fraud Enforcement Task Force, FBI, and even has included the US Postal inspection Service and the IRS-Criminal Investigation Division.
Actions against the perpetrators that have been connected to this company continue to be placed and there is still warrants out for fugitives that have fled the country. If one wants to believe that the the "company" name isn't still in these federal investigations books and just waiting for more information to apply more charges or restrictions to this stock, that might be just ignoring the risks that are so prevalent. And no, the old is not just in the past and what is part of the new and is what is part of the entire DTCC restrictions and the DTCC's continuous and constant work ability and communication with the SEC.
Now if and when IPWG decides to appeal to the SEC after the DTCC continues to Lock the stock, and IF and when the SEC might actually side against the DTCC, one might have something to jump up and down with. But that process will be another time consuming and expensive endeavor for the company and with horrible odds of ever "winning". Their best bet is same as every other companies best interest, and that is working with the DTCC and doing anything possible to adhere to the DTCC guidlines. If they can't do that, their pretty much still just out of luck.
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