Right, the actions of CTP executives and the NYSE set a bad precedent. The NYSE finally got around to formally delisting CTP stock citing the lack of volume and the low price of CTP stock over the past month as the reasons. They forgot to mention that the reason was that they had illegally stopped the trading of CTP stock with no warning a month ago. People aren't stupid. They see what CTP did and they want to make money in the same unscrupulous way.
Looks like DHR is up to something similar at Caldwell Partners, CWL.TO on Toronto. Look at the flurry of press releases. Appears like market manipulation, fraudulent intentions and deliberate attempt to drive down value which Caldwell is not going for at the moment. Hopefully Bernard Gross and Finra are taking notice of this, would appear to be the same pattern employed on CTP which did successfully crush the value of the CTP.
Call Susan at Bernard Gross law firm. There is a lawsuit starting. Also Call the Chicago Finra office and ask for Ryan Lubbers. There is civil and criminal investigations against DHR and CTP.
Also the blame is on CTP management as they have not bothered to move the stock to the Over the counter bulletin board. There is nothing stopping them from listing the stock there or the pink sheets EXCEPT they think if they keep the stock from trading their troubles will be forgotten. They are very wrong to think they have committed the perfect crime.
The NYSE is guilty of violating SEC regulations and their own rules and procedures when they halted and delisted CTP stock.
1. They claim that shares were halted after the open on 6/23, but that is not true, and they said shares would trade again later in the morning on 6/23, but they never did.
2. There was no warning that the trading of CTP shares of would be halted.
3. There was no bankruptcy filing. In fact CTP claimed that they were very profitable in their last earnings report on April 15th of this year.
The scariest part is that the CTP executives working with the NYSE managed to halt the trading of a stock, and get it delisted without any press. They were able to default on bank loans and pocket the money. They traded on insider information and manipulated the stock price by issuing bogus press reports. They also sold the assets of the company and pocketed the money. They also issued rosy, but completely fictitious earnings reports as recently as April 15th of this year. All-in-all they made millions of dollars, and the stockholders and employees were left with nothing.
The remaining employees are there to close the books and transfer files to DHR. Got to hand it to DHR, they waited for CTP to run out of money and made a deal with the banks for the low hanging fruit. Most employees got a 8 day notice they were out of a job.
Thank you for trying to call investor relations. I considered trying to contact them, but I didn't think that I would get anywhere. It's obvious that CTPartners doesn't want to declare bankruptcy because they don't want to face the scrutiny that a bankruptcy would bring. What the executives of CTPartners did was to take a publicly trading company private without paying shareholders a cent. It now seems obvious that they were also using insider information and press reports about the possible acquisition by DHR to pump and dump shares of the stock. They may also be afraid of the scrutiny for past earnings reports that now appear to be pure fiction.
I called the NYSE. They told me the stock has been absolutely delisted by them on June 23. I asked them why the stock is not trading on the Over the Counter or pink sheets. The NYSE person told me he has no idea why and agreed he has NEVER seen this before and that the only likely answer is that CTP management has refused to do the transfer to the Over the counter Bulletin board. Which is criminal since CTP Investor relations DOESNT EVEN ANSWER THE PHONE!
Keep in mind that all stocks no matter what the reason are eligible to trade on the Over the counter BB or Pink sheets after NYSE or NSDAQ delists. Right now CTP SHOULD be trading on the Over The counter Bulletin board since they have YET to file BANKRUPTCY.
After a bankruptcy then it goes to pink sheets.
Walter Energy WLT got delisted this week and THE NEXT DAY it trades on the Over the counter BB as WLTG. And Walter has been saying they will file bankruptcy for MONTHS.
This is unprecedented to see a stock delisted and not trade on a alternate exchange. It has never happened UNTIL CTP!
How can they keep the stock halted? They haven't really delisted it since that would imply that one of of the OTC exchanges would get the listing, and still no bankruptcy filing.
Google "SEC Investor complaint form". And fill it out online. I have and everyone else should also.
Also contact a law firm. You can call any of the ones that have already filed lawsuits under CTP headlines April 23rd and April 24th 2015. There are 3 listed. Or you can call Susan at Bernard Gross Law firm and she will personally get you started. I myself just sent my paperwork to Susan
CTP and DHR need to know they are about to be in big trouble and sued. I will just say it wont surprise me that Feds and SEC get involved and arrests are made.
No doubt insider trading took place. The sold shares everyday and the stock price dropped every single day before the news. All CTP management and Hoffmann need to be investigated by the SEC.
Call and email NYSE and SEC to complain like I have. There is no reason the stock should still be halted. This is purely the companies doing and for no good reason. I have never in 15 years seen ANY stock not trade before or after even a bankruptcy. ALL STOCKS trade for months to years AFTER FILING BANKRUPTCY. The company doesn't want any Hedge fund buying shares of the stock and then protesting and stop the backdoor fire sale to DHR. So they keep it halted.