It's funny that FIBR finally found success, but only after an (orchestrated?) plunge/reverse split/plunge that shook out most of the loyal long-term stockholders, who had to close margin positions in FIBR. Of course, the losses experienced by the little guys paved the way for great gains to be made by the big boys. Anyone up for a class action lawsuit?
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Santa Monica, California, Dec. 14 (Bloomberg) -- Osicom Technologies Inc. sold $7.5 million of its stock to a New York investor group two weeks ago at a 42 percent discount to the market price, according to a regulatory filing.
The maker of computer networking products on Dec. 1 sold 679,483 shares to FIBR Holding LLC, a company controlled by Andersen Weinroth & Co. of New York, according to the filing with the Securities and Exchange Commission. The price per share was $11.04; Osicom's closing market price that day was 19 3/16.
The day after the sale, Osicom reported its first quarterly profit in 18 months. On Dec. 3, the first day of trading after the announcement, its stock gained 5 1/16 to 26 13/16...
quote.bloomberg.com |
