BCSC Silvercorp Accusations Against Carnes Bode Well for FAB Going Forward
I think the BCSC Silvercorp accusations against Carnes (available on the web to read) bode well for FAB going forward.
To be fair, let me note that these BCSC allegations have not been proven. Carnes has until his hearing on 11/16/14 to answer to compelling evidence that he committed fraud in his articles driving the Silvercorp stock price down.
If you search "Jon Carnes" and "BCSC allegations" and BCSC hearing" etc., you will get to the BCSC website and can search there under the name of "Jon Carnes". The specific allegations in the Carnes case read like a murder mystery (the allegations make for good reading) and seem to imply that Carnes' own team has contributed to investigation findings that document the strategy and timeline Carnes' employed (short and distort tactics) against Silvercorp. Maybe the impressiveness of evidence in this investigation is because both the SEC and the BCSC were involved.
More recently, I see several anomalies in the Carnes' FAB articles that potentially represent similar or even bolder false negative reporting, False negative reporting is the regulatory term for when someone like Carnes knowingly and intentionally publishes as fact information known to be false, and short trades on the resulting shortterm dip in the stock price.
What we need from FAB now is a clean bill of health with decent earnings and the verification the FAB Board's internal findings. It is time justice is served... We need a 10K from FAB. Bring it on...