< Do you agree or disagree with this statement? If the SEC approves this recapitalization as it has been presented to us, with no apparent purpose other than to force a covering of the short interest, then that would be tantamount to SEC declaring "open season" on all short positions in all stocks in all exchanges under its jurisdiction.
If not, why not, and if so, do you believe this to be desirable?>
I disagree with your statement, which is based on the false premises that the recapitalization has been presented with no apparent purpose other than to force a covering of the short interest. Furthermore, I do not believe that the SEC's action in a single unique circumstance is a reliable indicator of how it will treat all short positions in all stocks trading on all exchanges.
Here we have a stock that has been subjected to abusive short tactics, the NSCC has documented a failure to deliver more than a million shares, and the exchange involved, the NASDAQ, is refusing to enforce UPC 11830 while its owners, the brokers, are profiting from those very abuses. |
