Will the SEC be able to step up to the plate and reprimand CARL BERG the pseudo philanthropist? Does he steal from everyone and then donates to charity for a tax write off?
They wonder why the retail investor has finally concluded that WALL ST. and its SHARKS should swim alone and amongst each other, hence the volume is drying up and will continue to as such behavior and knowledge is passed along to generations.
This guy Carl is a slippery one, will he evade justice and the SEC? The SEC let Corozine off the hook!! WHAT A SHAM THAT WAS.
DUMB F RETAIL, the SEC has spoken on how they conduct buisness on their own, where does CARL BERG fall into it?
"Delaware-based Rigrodsky & Long P.A. has filed a lawsuit alleging that Austin-based Valence Technology Inc. misled shareholders about the condition of the company's finances and business prospects.
The class-action suit is filed on behalf of all people who bought Valence stock between Aug. 3, 2011 and July 12, 2012.
The suit contends that Valence knew, but concealed, that the company's chairman of the board and investor Carl Berg would no longer fund the company to support its debt, that Valence would not raise capital by selling equity and that as a result, the company was headed for bankruptcy.
As a result, the company's stock traded at inflated prices during the class period, Rigrodsky & Long said in the statement.
Valence recently secured a $10 million line of credit from GemCap Lending I LLC. The company expects to file a restructuring plan by the end of the year."
Please write to the SEC and ask them to start representing the persons they were put together to represent !