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Questcor Pharmaceuticals, Inc. (QCOR) Message Board

  • mikeylikesit33_99 mikeylikesit33_99 Oct 29, 2013 11:59 PM Flag

    Riddle me this...

    What is the SEC doing involved in 'promotional practices'?

    Sorry but I have to plead ignorance on this one. I posited a theory that maybe they were checking the involvement of the short sellers but many here shot that down. So, without being an SEC expert, what could they be doing in a promotional practices investigation?

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    • While I would love it if this astute guess was in fact on the right track, I fear otherwise. Too bad more details werent given about it since the call was ruined 1 minute in... Everyone sounded markedly deflated when speaking as compared to last quarters call. This may not mean anything though as I suppose QCOR doesnt know much more about it either? You'd think if it was about the shorts, and they knew it, they wouldnt have sounded so down trodden on the call.

    • Mikey, I suspect you are on to something. Perhaps the SEC is not involved with the promotional aspect, but the investigation is leading back to Shorts? And perhaps even QCOR asked the SEC to enjoin the investigation? Otherwise, how would/could QCOR defend itself against allegations that a third party may have started that initiated the promotional aspect?

    • Common violations that may lead to SEC investigations include:

      Misrepresentation or omission of important information about securities, Manipulating the market prices of securities, Stealing customers' funds or securities, Violating broker-dealers' responsibility to treat customers fairly,Insider trading (violating a trust relationship by trading on material, non-public information about a security),Selling unregistered securities.

      • 1 Reply to zuzuspetalsboutique
      • Civil action: The Commission files a complaint with a U.S. District Court and asks the court for a sanction or remedy. Often the Commission asks for a court order, called an injunction, that prohibits any further acts or practices that violate the law or Commission rules. An injunction can also require audits, accounting for frauds, or special supervisory arrangements. In addition, the SEC can seek civil monetary penalties, or the return of illegal profits (called disgorgement). The court may also bar or suspend an individual from serving as a corporate officer or director. A person who violates the court's order may be found in contempt and be subject to additional fines or imprisonment.

 
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