Replies to post #109180 on RCC Holdings Corp fka RCCH

[Rhinegold]

Never say never. You don't know what the settlement will be or what will occur after. RCCH could cancel those shares and start trading again after the verdict. Also, whatever the settlement it doesn't negate the 3 to 8 Billion NSS shorted shares that exist.


Here is an interesting read of what the SEC can do via settlement (hefty fines) http://www.forbes.com/sites/billsinger/2011/09/07/update-feds-move-forward-with-stock-spam-cases/


Here is another interesting read for those interested to read what some can do against penny companies but the SEC usually take legal action. http://www.sec.gov/News/PressRelease/Detail/PressRelease/1365171484054#.UvAkp_ldVCE

According to the SEC’s complaint filed in U.S. District Court for the Southern District of New York, Bronson lives in Ossining, N.Y. E-Lionheart, which also does business under the name Fairhills Capital, is located in White Plains. Acting at Bronson’s direction, E-Lionheart personnel systematically “cold called” penny stock companies quoted on the OTC Link to ask if they were interested in obtaining capital. If the company was interested, E-Lionheart personnel would offer to buy stock in the company at a rate that was deeply discounted from the trading price of the company’s stock at that time. Typically, Bronson and E-Lionheart immediately began reselling the shares to the investing public through a broker within days of receiving the shares from the company.



sounds like happened to RCCH and others in this Gendarme case, doesn't it?