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Post by jannikki on Jun 6, 2006 22:07:45 GMT -4
23) If we shareholders of CMKX get our hands on evidence that hedge funds and/or market makers and/or brokers were complicit in naked shorting us, do you think the shareholders should, either individually or in class-action, file a suit similar to the one recently filed by the shareholders of Biovail. This one: biz.yahoo.com/bw/060324/20060324005559.html?.v=1
I have a better answer for a better kind of suit. If enough of you with any market smarts get together, I will get you a different kind of hearing. |
Mr. Burrell, Can you comment on this further?
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Post by troydian on Jun 6, 2006 22:08:32 GMT -4
Bud, and Mark.. I just want to take this opportunity to thank you both from the bottom of my heart.. The two of you are heros in my book! I wish you all the very best life has to offer. Without the two of you hope would be slim.. Once again THANK YOU BOTH
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Post by kranker on Jun 6, 2006 22:09:05 GMT -4
Bud, Here's a question we added later, 41) Bud ,were cmkx share holders short changed on divys before delisting? Especially interested if we were short changed on CIM divy,because of NSS?" You can click the "quote" button in the upper right of this post box, then type any thoughts you may have below the question. Click "Post Reply" when done. |
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Post by kranker on Jun 6, 2006 22:11:07 GMT -4
Another question,
42) How can a CEO of a company trade it's assests to another company for stock if he does not own 51% of the OS and is this the case with CMKX?
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Post by faulkingtruth on Jun 6, 2006 22:11:29 GMT -4
HI Judy...good to see you. I think my biggest point here is one that Bud has just solidified. CMKX shareholders HAVE to continue to apply pressure. Although I'm not personally conveinced of an "instant payout" or some typr of pre-negotiated settlement, even if there is one (I said "if" done't run with that), then the best way to make it happen is to force them to take action to settle. I would use the Nevada law that Frizzell cited as a simple law that has been clearly violated, the brokers should be charged with violating it. Everyone who doesn't have their certs should file a complaint.
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Post by jannikki on Jun 6, 2006 22:12:40 GMT -4
11) You mentioned a way that the shareholders could file individual legal complaints in the court system, if we found out that we were being lied to or mislead..in the event that were to happen, what exactly was the procedure that you once referred to, that would tie up the courts and make a larger impression on our situation.
The SEC has no immunity against constitutional tort claims. If just 50 of you would file such claims for violations of your property rights under the 5th Amendment, the SEC's legal back would be figuratively broken. They told the Sedona principals they didn't have the staff for 50 shorting cases. Hit them with 500 claims, and they would lock up the Federal Judiciary for years. |
Mr. Burrell or Mr. Faulk, Can either of you explain this process?
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Post by faulkingtruth on Jun 6, 2006 22:14:29 GMT -4
Thanks for the compliments.....I keep saying that the "Dirty Dozen" advocates are the most unlikely people who could have been chosen to take on this crusade. Most of us aren't even sure quite how we got here. (excuse my typing.....it sucks)
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Post by jcline on Jun 6, 2006 22:15:13 GMT -4
Mark, we have begun many a email campaign... some great people just emailing everyone.... senators, congressmen and state regulators...
This Utah Legislation is cookie-cutter enough to be plugged into every state in the Union. Time for WE THE PEOPLE!
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Post by Carats4me on Jun 6, 2006 22:15:37 GMT -4
Mr. Burrell, my impression from your comments to the questions, is that you provide a grim assessment of our situation as shareholders, in relation to seeing any kind of settlement, or other financial compensation ( including, buyout, etc).
Am I right?
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Post by georger on Jun 6, 2006 22:16:00 GMT -4
Please accept my humble apology. I am late. Rushed our company out the door....lol
I hope Kranker served coffee and cookies.
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Post by faulkingtruth on Jun 6, 2006 22:18:02 GMT -4
I'll let field the tort claim finings, but I think for immediate action, filing with the state of Nevada for violation of their law that requires delivery of stock certificates is crucial, The law couldn't be more clear:
Nevada law NRS 78.235 mandates that each shareholder has the right to request and receive certificates of ownership from the company for their stock. Specifically, the statute states “..every stockholder is entitled to have a certificate, signed by officers or agents designated by the corporation for the purpose, certifying the number of shares owned by him in the corporation.”
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Post by faulkingtruth on Jun 6, 2006 22:20:46 GMT -4
I agree on the "bombard the legislatures" approach, but you guys mostly have your certs. NOW you have to find everyone who DOESN'T have certs, and get them to file a complaint at the state level in Nevada, and then demand that Nevada charge every broker who has failed to deliver ONE SINGLE CERT.
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Post by troydian on Jun 6, 2006 22:21:17 GMT -4
Question is, who in the DOJ is responsible for NOT enforceing this and other LAWS? cuz I am ready to let them in on my dissapointment... I have been very active in addressing polititans,, they dont seem to be the ones to address..criminals the WHOLE LOT!!
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Post by faulkingtruth on Jun 6, 2006 22:24:18 GMT -4
Another point: This is my opinion, but it's based on a lot of research. MANY OF THESE BROKERS ARE SHORT....IN A BIG WAY. If they're held liable, and charged with violating state law as well as federal law, there is a HUGE class action suit waiting to happen...and the brokers have deep pockets (because they're filled with your money). Again, that's my opinion. but I'd bet on that one.
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Post by jannikki on Jun 6, 2006 22:25:59 GMT -4
I agree on the "bombard the legislatures" approach, but you guys mostly have your certs. NOW you have to find everyone who DOESN'T have certs, and get them to file a complaint at the state level in Nevada, and then demand that Nevada charge every broker who has failed to deliver ONE SINGLE CERT. So if we have received our certs, the best thing we could do is make sure our officials are reminded daily that over 38,000 angry shareholders are waiting impatiently for them to clean up their act?
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