Securities Exchange Act of 1934: Rule 10b-5 -- Employment of Manipulative and Deceptive Devices
It shall be unlawful for any person, directly or indirectly, by the use of any means or instrumentality of interstate commerce, or of the mails or of any facility of any national securities exchange,
a. To employ any device, scheme, or artifice to defraud,
b. To make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading, or
c. To engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person,
in connection with the purchase or sale of any security
Food for thought from another message board of a stock that I follow that also has a federal investigation ongoing:
"I know you are reading into this the same thing that I am. Extreme speculation here, but I hope that Marc's visit to Atlanta was more about the feds going after him and his co-conspirators in this short attack then seeking information to go after ****. I have said this many times before, but I would not be the slightest bit surprised if the federal investigation of **** winds up with no material adverse findings or charges against **** and instead charges being brought against Marc and his co-conspirators in this short attack. I can think of no better test case for the feds to challenge the kind of behavior exhibited during this short attack (which the SEC in a recent article indicated was a new focus) because of the clearly false statements made, the trades timed in conjunction with the negative and false articles, the fact that Gotham and Copperfield are thinly veiled and newly formed entities created for the sole purpose of attacking ****, and the fact that **** was (is) the most shorted stock on the S&P 1500 and has lost so much market cap from the short's false allegations. If the feds were going to try to send a message to the marketplace about improper stock manipulation through false allegations and naked shorting I could think of few better opportunities than the one present in this scenario with****."
This poster is not alone with his thoughts ;-)
It seems that a lot of retail feels as we do....we're not just fed up, uh uh, we want our SEC and it's new chief, Mary Jo White to act on our complaints and fulfill their mission statement. I believe she is our best hope yet for fundamentally remaking markets into a fair and level playing field for investing as opposed to the cesspool of Andrew Lefts and his ilk that infect it now. Do you have 15 minutes to highlight some of the more infamous lies/co-conspiratorial blog hit pieces/share dumps/ bear raids? Put it on paper, mail it in to everyone who represents you and DEMAND action.
danzo2 • Dec 7, 2013 6:47 PM Well...similar to violation of the RICCO act or simply CONSPIRING to commit a crime, one can prove intent beyond a reasonable doubt which illustrates a pattern of behavior to manipulate the share price of a stock with false, misleading and incomplete information followed by a coordinated share dump from accounts controlled by the PERP or associates, clients etc and the result being the creation of an atmosphere of panic where none would otherwise exist. The movement of MONEY, the trading activities, and the communications between, the PERP, certain authors of financial blogs, allied HEDGEFUNDS, and maybe even a complicit or unwitting government agency employee.
A simple tweet, this was not. We know what this is. Wall St. knows what this is. The new head of the SEC knows what this is. If you think it is wrong, demand action from YOUR SEC, congressional representatives, and state or federal ATTY GENERAL'S office. Less
Sentiment: Strong Buy
Sentiment: Strong Buy