What happens to the stock price if they become current the SEC after the lawsuit settles. I have searched far and wide to find another Chinese RTO class action suit that has "settled" before SCEI's final settlement on July 1st. I have not found one. So we really do not know what is going to happen. Many believe they will file and the price will go back to reasonable levels. Due to the fact that Jing is still communicating with shareholders, I would think the odds are good.
For those of you reading LBCB's post, do not believe him when he says I have other Alias I post under. I have nothing to hide. Over on the ABAT board I posted under an alias for a while because I wanted to avoid detection by the company who I was. That was months ago.
CHBT became current, probably forced by the SEC. You can see the spike in the 1-year chart. I still think it's a fraud though. Lawsuits probably still ongoing if they have any.
CEAI had all lawsuits settled recently. Definitive. But they have always reported. Stock didn't react because they are losing too much money. Lawsuit probably wasn't that serious because the stock never suffered a major blow.
Every case is different it seems. If SCEI becomes current, the stock will go up. There is still some interest here. But a going private offer is what we should put our money on.
I'd agree with that. Every one I've reviewed thus far certainly has at least one or two features unique to that particular case.
One that i found interesting, and which may be the very first "China RTO" case, is Catherine Rand, et al. v. China Energy Savings Technology, Inc., et al., 06-CV-03308 (Southern District New York).
That one was originally filed in May of 2006. The defendant company seems to have merely disappeared from the record once the SEC began investigating, and the plaintiffs dismissed (without prejudice) in February of 2007.
Prior to that, counsel for the various defendants had withdrawn, which generally occurs when a client is non-cooperating.
Yes we have her work e-mail address, which was on the web site when it worked, I sent her an e-mail this morning about the web site being down and she answered tonight telling me that they had some trouble wiring money to the company hosting their site but they have now sorted it out and it should be back and running soon.