I'd always likened it to BF Skinner's randomly fed pigeons who developed ll sorts of weird rituals to inspire the gods to feed them.
The stocks promoters sure took me for a ride...such extravagant lies!
It's still thrilling to see we are up 100%...to a penny...sigh.
by Kaushik Basu, Scientific American, June 2014, pp. 70 - 75
Peruse this article for education about the psychological group-behavior it describes.
The majority of TSTC-holders are just pigeons to Wall Street con artists.
They launched their office in Texas with new website. Maybe first sign that want to do business and possibly clean up the mess with SEC. At worst there might be assets to be included in class action suit.
I doubt there are anything big in assets or potential left here.
We are fleeced and the left us the fleas, is my guess.
While they appear to have some assets in the US, the ADR probably insulates them from direct liability. Only the lawyers win in stuff like this.
It's an exercise in self-righteous masturbation, to coin a term.
The lawyers will go after anything that has a pulse. Filing the law suit probably costs the price of a bottle of WHITE OUT to change the name of the company from a previous suit filed against a different Chinese company.
So they might sue the auditor. I ask you, if the SEC could not get the answer required, how was Mazars to get them. But of course, Mazars signed off. Though there were restatements because of the quality of the receivables it's not like TSTC lied about the receivables. They were clearly presented there with their duration.
Samm, a lawsuit only is useful if the defendant has asserts to go after. TSTC doesn't have anything of value and hasn't for years so it's worthless. That's my opinion. (Then again - why would the lawyers bother if this was true? Hmm.)
Sammasj. Your Jan 4 th post appealing to others to send the petition to Senators , Congressmen , State Dept and Media is the only hope of recovery investors have. A political solution is our only chance.Until the Chinese government acts honorably ,we re toast.
Irony works I suppose you are referring to Teddy Roosevelt sending 17 battleships plus to Asia as a display of our military might in 1907 as embarrassing China. Do you know that China sent a fleet of 371 ships around Asia and AFiRICA visiting 28 countries over two decades , 500 years before under the command of Zheng He I imagine China embarrassed all those countries. Is there anything about America you like?
I can't stop laughing at these lawsuits.......they are not worth the stamp necessary to file them.
The company has Z E R O assets in the USA and US law cannot be enforced in China. So, what good is it ?
They will get the suit and not even bother responding to it. It will go into the garbage.
What a joke and a waste of time.
First off...For purposes of our discussion RE this Chinese stock..We are talking about how it relates to mainland China, or Communist China.
So our help with N Korea , Taiwan,Chang Kai Shek, etc, counts against us in their eyes.
Of course our treatment of Chinese laborers on the railroads was shameful and legendary there, as was our treatment of the Chinese that emigrated or remained here. Most of the large centers of Chinese folks in our west coast cities are greatly diminished or entirely gone.
While we did aid them during WW2 significantly, we also exploited them less than honestly and promised backing that they committed to and then hung them out to dry.
But i was also thinking about well before WW2, about how the US and the Brits humiliated them and exploited them terribly from the time we first sailed into their harbors with our superior military technology.
Consider the prelude to the opium wars or the Boxer rebellion for example.