So will they get a slap on the wrist? Will they have to rescind transactions?
I doubt it.
As to your prior post about letters instead of annual meetings, I think Nevada and some of the other management friendly states are going more in that direction.
It sucks but having seen precious little accomplished at annual meetings, I'd rather see more effort done in forcing timely disclosures.
As you know, I've advocated disclosure of sales for a time BEFORE anyone can sell, short, hedge, etc. Let insiders, management, touts, hedge funds, and others sell with news that everyone else has. Then we'll see how many sure thing trades there are.
I'm not talking about registration statements or lock-up agreements. I'm talking about actual declarations of intent to sell. Let all insiders, management, hedge funds, vulture financers, touts, and their associates and implementers be covered. If a company has to borrow at 100% interest, then let that fact be known, not hidden under a myriad of scammy fees and short sales. |
