The sec is influenced by certain *persons unknown*. Remember that the sec along with any godernment entity is not some faceless monster. It is composed of People. And people are influenced by other people. Like members of shorting/bear raid crews, or hedgie fundies for instance. Bottom Line: Going after JBII was NOT a *random* regulatory action.
You can see further examples of this when they decide to 10day/Send to greys some company seemingly at random. It's not random. Somebody was major short and you just know they hate to have to cover. I mean, for them that's ridiculous....cover?..are you JOKING???...So much easier to send the target company to the greys........z
Apparently, the SEC suit was not enough to get Bordy's full attention. In the most recent 10-K, the auditors opined continuing, material weaknesses in internal control. This corporate behavior under Bordy's management continues.