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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,
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To: Lola who wrote (66859)2/10/2001 6:06:11 PM
From: mmmary  Read Replies (1) of 122088
 
SEC will only go after them if they get a piece of it

That seems to be the general rule. If you want the SEC to prosecute a company, you should tell the SEC that they have tons of cash. I was talking to them about another company and they were delighted to go after them until I said the company and BOD didn't have much money. The SEC guy's voice dropped instantly and then he started talking negatively about the case. It was an instant turnaround. Their main interest is money, not justice it seems. I know, what is the point of going after someone if you can't get anything out of them and it will cost you expenses. We prosecute criminals for their crimes and most of them have no money. What about jail time for extreme offenders? If they thought they'd get jail time, they might not be as likely to do the crimes. These people are getting away with just a slap on the wrist. In a way the SEC is actually involved in these crimes by taking some of the bounty.

This is when you have to go to plan B I guess and start a class action shareholder fraud lawsuit. The trouble there is what if they don't have a good enough D&O insurance policy. Then the lawyers don't want to take the case. I guess then you just have to resort to letting the public know about the fraud and hope for some sort of public justice.
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