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Longwei Petroleum Investment Holding Limited Message Board

  • bernardandy27 bernardandy27 Feb 11, 2013 2:43 PM Flag

    One month ago..

    LPH released it's first rebuttal, video evidence! BIG DEAL! Toups, Anderson/Bradshaw, Gentry (Red Chip) and all others involved in this scam should get theirs. The fact the regulators (NYSE,SEC) let a company go dark is mind-blowing to me. Have to say this is my first experience with a halt then go dark scenario and it's definitely frustrating. If it's a fraud so be it at this point, let us get whatever we can out of it and move on!

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    • there have been about 20 of these and many follow the same scenario. they are accused of fraud and the nyse, sec halt it. they can not let a fraud continue to trade. they will usually ask for information to prove they are not a fraud and give lph so much time to respond with it. if they can not, they will get a notice to delist. lph can appeal and that usually fails, and then after 4 to 5 months, sometimes 3. they get delisted to pink sheets and trade there for pennies. nyse,sec halted them because they look to be fraudelent, they can delist them but lph has lawyers and they are in china. if lph wants to go dark, there is not much to do about it. they will end up on pink sheets like the rest and then you never hear anything from them. the latest good example is DEER. look at their graph or DGWIY, you never hear from them.

      • 1 Reply to piatt1234567
      • I agree with piatt1234567, they cannot allow a potential fraud to trade in case later on more shareholders get dragged in then it really is proved to be a fraud. Loads of companies go dark because they know not much can be done about it. Actually going dark is a far cheaper way of taking the company private because they basically get all the assets for free. Lets hope that this does not happen.

        Prevention is definitely better than cure in these cases. Do not invest in companies with red flags in a space well known for fraud.

        Sentiment: Strong Sell

 
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