Some of us did file complaints with the SEC with
regard to the July 7 incident. We were branded 'whiners'
and 'crybabies', and told to grow up and 'just let
management take care of business'.
done a real bang-up job, haven't they?
any of you management apologists out htere have
changed your mind (now that your wallet's been picked
again0, you can find the name and number of the SEC
lawyer in post 234.
With reagrd to the July 7 incident some of us did
contact the SEC (see posts 234 and 238). Of course, we
were branded 'whiners', 'crybabies', etc. and told to
grow up. We were told to 'just let management get on
with taking care of business'. Well, they sure have,
If any of you management
apologists out there have now changed your minds, go and
look at post 234 for the name and phone number of the
Under the traditional or classic theory of
insider trading, a corporate insider, such as an officer,
director or controlling shareholder, who trades on
material non-public information violates his duty to the
corporation and its shareholders. However, the classic theory
does not reach persons who misuse confidential
information obtained from a source other than the corporation
whose securities are traded. FTIC appears to meet the
definition of "insider trading" in even the classical sense!
On July 7, 1998, on high volume and no news
releases until later on in the afternoon, this stock took
about a four point plunge. The following day, it took
another 3+ point plunge after news was released. Looking
at what has happened today (high volume and sharp
price declines on "no news" again)it appears that this
stock is repeating the pattern. Well, enough is enough!
I have already contacted the Nasdaq stock exchange
and am taking some steps to at least get this company
investigated at the very least. If the stock holders of Compaq
could pursue litigation against compaq for less serious
charges, why can't the shareholders of FTIC. Judging by
the facts (as sparce as they may seem) any reasonable
person can make observation that something is very shady
with regards to what has happened to the stock price
at certain times! Let's do something about it
people, stop your bitching and take some action. If we
work together (as was the case in the compaq
shareholder suit) we to can at least get the wheels turning
instead of sinking deeper into a "Chicago like pot hole"!
Contact the Nasdaq stock exchange (E-mail Nasdaq at
"firstname.lastname@example.org" ) and at least make it known that this company
may be blatantly violating securities laws. I know
that most of you posting at the board have a far
greater interest in this company that i do as my holding
are probably peanuts compared to some of you! But
hey, who likes to lose, especially when the rules have
been bent to favor those few who have breached their
duty of care to the rest of the stockholders! And if
there are other sources to contact which could lead to
a SEC investigation against FTIC, POST THEM HERE!
IF MORE SHAREHOLDERS COMPLAIN, SOMEONE WILL BE BOUND
TO LISTEN AND AT LEAST DO SOMETHING! REMEMBER, YOU
GUYS/AND GALS AS SHAREHOLDERS DO HAVE RIGHTS AND THEY
SHOULDNT BE WASTED BECAUSE "YOU THINK NOTHING CAN BE DONE"
TO SALVAGE YOUR INVESTMENT!
It looks like this stock has real earnings, real
growth potential and it came out at 6. Why should it go
below the bottom when the internet stocks have you to
post a dime of earnings and are speculative.
see no news since july when the earnings figures did
not pan out.
Is this company headed for
bankruptcy or is it a good value play. I can find only one
record of analyst veiws claiming the stock to be a
strong buy. What really gives.
BTY, If all this
is caused by illeagal insider trading, aren't there
civil suits that can be filed against the
Look at this stock drop on high volume. The last
time this happened, the stock was halted late in the
day and pre-earnings announcements were
Looks like the same scenario to me. Gee, here I am
Let's hear from all you
pro-management people out there.
Seems that the only activity in FTIC is more
insider selling. With the stock down on no news, I guess
the public will eventually hear about something bad,
long after the "favored few" have been told. I hope
some of those people go to jail for what happened in
early July (dumping their shares on non-public
information) - but I doubt they will. Looks like they are at
it again now; just my opinion of course - and I hope
I'm wrong .