Seven-hundred forty-two shares driving the price down $0.12 or more than -5% is NOT a natural trend.
It doesn't even count as "price exploration". No, it's pure manipulation.
If this kind of #$%$ was happening in a casino all H would break out, people would be perp-walked and the jails would swell to overflowing. It would hit the national media. They wouldn't shut up about it for weeks if not months.
No, there's no manipulation going on here.
These vulture law firms only use professional lead plaintiffs, a practice that's illegal in many states. If we can find the name of that plaintiff, one can do a search on it and see if it pops up in any other "class action" lawsuits within the last ten years or gets used in any yet to be filed. They are commonly tied to "asset management" firms who invest for a mental incompetent with enough assets to buy 100-200 shares in hundreds or thousands of stocks (most less than $10/share). One key would be to find out WHEN these shares were bought.
The whole purpose is to harass a company, demand a lot of expensive "discovery" documents be handed over then reach a "settlement" for a few hundred thousand. The "settlement" is usually a non-opt out or has been until recently. One such is in its final death rattle appeal after their non-opt out status was quashed by the presiding judge and initial appeals court. It should make for lots of media buzz once they rule, expected sometime later this year.
Given someone sold one (1) share earlier this week before mid-day, I'd say likely yes. Since that two day drop was barely in the normal ADV range, of course it was manipulation. A stock just doesn't lose 40% of its value on ADV trading.
So, one corporate ambulance chasing law firm beget two who beget five who beget...!
These vermin replicate like the roaches they are. (One need only see the list compiled by yahoo under Company News) Funny how only one has made ANY filing yet all will expect to be paid off in order to go away.
Can we next expect the price manipulator to now appear with their "White Knight" offer?
Has no law firm ever heard of Use Taxes? Most states with Sales Taxes include Use Taxes and those get paid by the customer. Furthermore, did none of the customers mention or question any listing of Sales Taxes or the lack thereof? If ARCI was a "contractor" or a "sub-contractor", Sales Taxes are treated differently than when one is conducting retail--as seller OR buyer.