Actc should not pay the fines imposed as they will harm the companies financial position and its shareholders. the sec role is to protect shareholders and not hurt them or drive them into toxic financing to pay fines or ultimately bankruptcy.
wrong ! The SEC role is to protect shareholders of any company .. thus the SEC is doing its role ..... This company has a long history of suspect behavior . Some like ELK and BEACH blame it on CALDWELL . Others like KEEP blame it on RABIN . Regardless the history speaks for itself . Many lawsuits have been filed against this company over the past 10 years. So the real question should be? Why? I know why , do you? With this said I will hold my shares .... I paid below 6 cents . I believe that when , and if , the lawsuits are ever settled .... the science will prevail . However? Will it be too late ? Now go back to the I-CELL forum you moron and stop posting your BS here !!!!
You make a valid point that people go to jail and company doesn't. However, we both also know that you have to prove fraud and that the intent was high under badges of fraud to ever convict people in that scenario. Additionally, you have to pierce the corporate entity by proving the company didn't follow formalities which is also harxd to do. Third, even if you can prove above insurance companies do not cover for fraud so we as shareholders could be screwed.
I'm just speculating all of above and you should do your own DD. Further I'm wasted at the bar and don't realize a word of what I'm saying. But Good Luck to Shareholders and let's hope the SEC doesn't bend us over into BK. LP is raising nothing at 6 cents.
"Actc should not pay the fines imposed as they will harm the companies financial position and its shareholders."
Facts, the facts are ACT has a horrific finacial position, unless of course you believe that a negative EPS, burning cash, and diluting the the hell out of sharehoder value, constitutes a solid financial postion.
"the sec role is to protect shareholders and not hurt them or drive them into toxic financing to pay fines or ultimately bankruptcy."
Right, too bad in real life it dosen't work that way.
Companies don't go to jail, people do. For this reason they should prosecute or fine the people behind the bad decisions that make up the management team. The likely reason they don't do this is simple, the persons don't have the cash to pay such fines and they really don't want to jail people who make poor decisions when they are in management positions at publicly traded companies. Fraud on the other hand is an individual (s) crime that should result in prosecution of the persons guilty of the crime................if proved.