Ok, guys. Here's the letter I sent to NASDAQ. Join in if you like. (Another one is being drafted for the SEC.)
It was with great interest, but no surprise, that we, the shareholders of Radisys, learned of the more than $900 million that 47 brokerage firms will have to pay for fixing stock prices on NASDAQ (the exchange that will replace a national lottery for the next one hundred years).
After all, we RSYS shareholders have watched the stock of the company drop 20 points in less than a month on nothing but good news! And, all the while, the stock has traded with bid-asked spreads often reaching a point-and-a-half, often has traded at a price below the bid price, often has dropped 2-3 points in one day on volume not exceeding 50,000 shares, often has traded down by virtue of the last trade of a day that--until that last trade--had seen nothing but gains, etc., etc., etc.
We have written before asking that the trades of the market makers in Radisys be examined daily on a trade-by-trade basis to see what's going on. All we have gotten back is pro forma yadda yadda yadda by some low-level clerks.
What's it going to take to get you to act? A class action suit by Radisys shareholders against NASDAQ and the brokers involved? C'mon people, act like you really care about the individuals who invest in the few good companies on your exchange. You've gotten enough lousy publicity for awhile. |
