I just read your response to the latest street.com article. If you state ONP is falsifying it's financial statements and it is proven that you lied can the company/investors sue you? Just trying to understand the short game.
Currently no ONP position
Those people holding long positions on ONP and defending it are no different than Muddy Waters holding short position on ONP and railing against. Muddy Waters however, is atleast better positioned than most on this post because they have been to china and actually visited the plant...they are talking from a much more informed viewpoint than anyone else here...the guy from the street.com who was also there at the same time as Muddy is also uniquely positioned because he's been physically there too...it's gonna take sometime for the dust to clear...but it's gonna clear...then we'll see...i suspect there is going to be alot of pain. It's also possible that AMEX may halt trading in this stock if Muddy Waters is right..like they halted trading in NEP. We should also remember that it's a natural reaction for anyone long in this stock to defend the company vigorously in order to recoup as much from their loses as possible...so it should not come as a shock that muddy waters is being resisted fervently...The truth is though...at this time with all this cloud hanging over this stock...and the possibilty of stock suspension by AMEX...no one long or short has any business holding this stock...holding this stock long or short at this time is massive gambling...and alot of pain and gnashing of teeth is surely on the horizon.The gentleman at the street.com possibly recovered his loses from the stock due to the rebound and is now happy...no one knows if he is still long alot of shares or not...anyhow prepare for pain... if u got money for your family or for important stuff invested in this stock long or short you've been warned! Enjoy the ride...enjoy the pain...after all no pain no gain right? We'll see hehhee..we'll know the answer soooon. As the wise say 'few are usually on the side of truth...truth is usally resisted by many" Good luck!
You first state that Eric Jackson has a great reputation. Then on another post state that he will be ruined. Your first statement holds up and since he and others who have visited do have a good reputation and somehow these two random guys are more intelligent than everyone else and state that they will make a great deal of money if the stock price goes down? You know and others know that Muddy Waters report and agenda do not add up and it is obvious that they are very fraudulent.
That's right - if I say that they're falsifying their financial statements and I'm wrong, they can sue me and I'll suffer serious repercussions. But if I'm right, then in court it'll be realized that they're committing fraud, and they'll be put in jail.
That's why I'm not concerned. The company is falsifying its financial statements, so they'd never sue me. Otherwise, the discovery process in court would uncover their fraud, and the outcome of that would be much worse for them than losing money in a pump-and-dump scheme.
If they sue, they'll be the ones going to jail, not me, because they're committing fraud. So they'd never sue me.
Andrew Left puts it succinctly - google "So you want to sue citron research" and click on the second link.
Disclosure: short ONP
Have you provided the company your address and phone number so it will be easy for them to contact you or do you have an official website where you post your information?
Also, if the company is commiting fraud have you turned your evidence of it over to the SEC for an investigation? If so, who did you give it to at the SEC?
New to this part of investing, so I don't know how the processes work.
Currently no position in ONP
If they visited during a 'snow storm' as indicated in their press release then:
HOW COME THE VIDEO FROM RICK PEARSON DOES NOT SHOW SNOW ON THE GROUND? not a single little bit of snow on the ground, else the dude wouldnt have been running and jumping on the scrap paper stockpile if there had just been a huge blizzard....or the pictures they took of the other stockpiles of paper...I DON'T SEE SNOW!!!
Something isn't right
They can sue me because the contradictions are on their own website and SEC filings. All the following derived just from website and SEC filigns: Great R&D and advenced techology with 37 professional and R&D lab but only 30k spent in 2008 and 25k in 2009 in response to SEC inquiry. No patents or other intellectual property other than 1 trademark for its name. Fast growing sales but almost nothing spent for advertising or promotions. No identified sales department, sales director or manager, or salepersons. 863 emplouyees according to company video but 600 employees according to SEC filings. Management identifies internal accounting controls weakness and vows to fix them, but when SEC follows up to inquire, new CEO located in California replies it was an inadvertnet error and no weak internal accounting controls. Etc.