Baidu, Inc. Message Board
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Calling for Investigation + Class Action lawsuit: Bidu shares fraud/manipulation
Sent a letter to SEC demanding an investigation into the dramatic moves up and down in shares of BIDU. One week the shares are 200, the next week 300. Then all the dramatic 1 day swings from 20-30 points.
There's major manipulation and this will be investigated. I also have sent a letter to NY federal reserve Marc Olson, SEC head Chris Cox, and David Patterson's assistant.
Will be interesting to see responses. I will keep everyone posted. No one should be manipulated by a few MM's collaborating to drive shares up and down in dramatic fashion.
Tomorrow i will be contacting law firms in NY to see if legal action against these hedge funds. I want to see if Manipulation of BIDU stock is legal, and thus will track the hedge funds manipulating the stock and file a class action lawsuit in the state of NY against hedge fund XYZ.-
If u r serious about it, I will be on your side to support you!!!!
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asshole
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You are a piece of work! Did you sue Google too?
- 1 Reply to tuy_nguyen
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This afternoon in less than five minutes time they traded $7,850,000. the stock only varied about .25 either way up or down. Seems pretty risky to attempt to throw enough money at Baidu without having an earnings report to back up your position if selling. The stock as well as the market got a little high last year but both have corrected. Some of the problems are being solved, but there will be more ups and downs. SEC doing anything. . . good luck buddy
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what's the verdict on this? It's obvious there is manipulation
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Don't forget to remind any investigators you talk with about BIDU's volume-ratio anomaly too. I've notified the SEC, NASDAQ and FINRA about the stunningly strange volume/outstanding-shares ratio seen with the stock, but the way bureaucracies operate, they probably need more reminding about this issue from more people.
Read my old post for more detail, but here are the basics:
The daily average volume for BIDU is approximately 20% of the outstanding shares -- nearly all companies, including other popular day-trading stocks, have an average daily volume of less than 2% of their outstanding shares.
BIDU has stated, in its SEC filings, that it thinks it has the right to issue shares (or "rights" to shares) without filing a registration statement. (Read page 36 in BIDU's F-20 for the details: http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5213532#D20F_HTM_TX20129_6 )
If BIDU has "secretly" issued more shares (or "rights" that could be used to back short sales of the ADSs) those shares would show up in BIDU's trading volumes. Considering BIDU's past trading volume -- compared against what the company claims is its "outstanding shares" -- I conclude that BIDU has issued unregistered shares.
Looking at the monthly numbers on the volume, you can see the probable timeframes when the suspected "new" shares were sold into the market. Here is a good link to view that: http://www.adrbny.com/dr_profile_tr_sum.jsp?cusip=056752108
Note the jump in volume in the June-July timeframe; then again, in September-October.
Looking at the daily volume changes over the past year will also help give you insight into the anomalous volumes/trading which indicate (IMO) securities fraud:
http://www.adrbny.com/dr_profile_tr_sum.jsp?parm=1&cusip=056752108
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I'm calling the mental hospital and seeking an investigation on why you are not locked up.
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Dream on loser. You are obviously losing money in BIDU. I am sure you will get a response real soon...LMFAO
- 1 Reply to wbuffet07
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i'm long, bought at 350. still nobody knows, tomorrow i could wake up and the thing be at 250. If it goes down to 250 my wife will divorce me. I invested heavily against our mcmansion to buy shares of BIDU and almost got a margin call when it was 210 last week.
Look, my wife is hot and if she leaves me I'll be depressed for years.
I bought some more stocks, and now if BIDU falls below 250 ever again I will be in huge debt. So these hedge fund guys better keep it above 250!
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