this company sure has a lot of unethical people and practices. Now the sec is suing the CEO for illicit and unreported trades, AND another lawsuit just hit them yesterday for patent infringement. LITIGIOUS company to say the least. How many other skeletons are in the closet They may as well shut the doors too many lawsuits, even if they win the cost to defend is in the 10's of millions and the float is already BLOATED up to 3 billion shares heading to 4 billion with next two financing, not to mention from the THIRD lawsuit they just settled they spent over a million in legal fees, and they owe the SEC anothet 4.6 million in fines, and penalties. It just NEVER ends with this company. I would be very surprised if Lanza even stays. This co is toast and with all the unethical #$%$ going on who wants to be associated with them.
So, 1) You've lied about the lawsuit for illicit and unreproted trades; 2) you've made a statement regarding a lawsuit on patents for which there is no current public information. Obviously one can jusge your intention.
ON the SEC INVESTIGATION, it is for LATE reports, is not yet a prosecution and is not an investigation of illicit trades. Apparently, you think it's worthwhile to put out false information.
Secondly, while there is indications of a court filing, on the Federal database, pacer, that complaint is not yet public. It's very likely a means to get money, by making a very broad patent claim and ACT has its own patents on the same matter. Patent disputes are common in new industries like this, and that entity that sued is being sued for having uneforceable patents. So, you can post your garbage or wait for real facts and try to be a bit more careful with your statements.
I have been doing this a very long time and one thing the bashers ALWAYS do is pick a high up officer and attack him with everything true or not. In actcs case it happens to be Gary. If you are new to this stock ignore these idiots
"This co is toast and with all the unethical #$%$ going on who wants to be associated with them."
Hope not, Jim, but unless Gary comes out with some good news soon, they'll end up not only as toast, but burnt toast. And the moral of story might end up being; "Don't allow a WS shyster to take over your company!"
If a lawsuit was filed against the Company yesterday as you claim, it will be reported to shareholders on a Form 8K as a material event. I read the articles yesterday and saw no indication of ACTC being named in a lawsuit.