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Post by spaz on Jun 6, 2006 22:28:53 GMT -4
Bud or Mark,
I have absolutely no experience with class actions let alone the American Justice System as I am Canadian. If it comes to that, how long would this be tied up in the courts and if we win what kind of restitution would we expect?
Thanks guys for coming tonight.
Respectfully
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Post by faulkingtruth on Jun 6, 2006 22:30:46 GMT -4
Yes, but I also think that you have aright to complain to Nevada authorities as well, because you've bene harmed by the shares not delivered as well. The reason I keep harping on the state level approach is that we all know our fderal officials will stall and sweep it under the rug until they're forced to take action, and being embarrassed by the states taking action first (as in the case of Utah), is the best way to wake them up. Plus, the Nevada law is SO clear.
"I bought this stock...my broker didn't deliver.....officer, arrest that man!!"
Pretty simple.
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Post by longhorn7 on Jun 6, 2006 22:31:15 GMT -4
I s it still possible to file a class action? In the event that one is filed, to what extent will the shareholders benefit, other than maybe brining these bad guys to justice. Seems to me, that fines imposed by the SEC do not necessarily benefit the shareholder, it certainly didn't where ENRON was concerned...the only benefit was seeing them do the perp walk and donuts to dollars, bush will hand out pardons when he leaves office and his brother steals the next election....lol
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Post by kranker on Jun 6, 2006 22:31:53 GMT -4
Mark/Bud, Why is Senator Bennett hiding from this issue? IMO, pretending to take action. Here's a quote from his spokeswoman, "Mr. Bennett has no plans to introduce similar legislation to the Utah bill "at this time," said Mary Jane Collipriest, spokeswoman for the senator."cmkxunitedforum.proboards70.com/index.cgi?board=general&action=display&thread=1149532413We keep going through these phony acts whenever Bennett or Cox go to the hill for their dog and pony show. |
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Post by longhorn7 on Jun 6, 2006 22:32:55 GMT -4
It is my understanding that brokers are citing various fed / sec laws that prohibit states from engaging in activities that go against fed laws...the Utah NSS issue for example?
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Post by Andy Carter™ on Jun 6, 2006 22:33:25 GMT -4
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Post by faulkingtruth on Jun 6, 2006 22:33:58 GMT -4
Who knows how long asuit can take. IF the evidence is clear, and IF the SEC is forced to take disciplinary action, then the brokers might be forced to settle. That's best case....otherwise it can takes years. Either way.....a huge payout won't be deposited in your account tomorrow. (unless the rumors are true....this time)  |
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Post by kranker on Jun 6, 2006 22:34:16 GMT -4
I s it still possible to file a class action? In the event that one is filed, to what extent will the shareholders benefit, other than maybe brining these bad guys to justice. Seems to me, that fines imposed by the SEC do not necessarily benefit the shareholder, it certainly didn't where ENRON was concerned...the only benefit was seeing them do the perp walk and donuts to dollars, bush will hand out pardons when he leaves office and his brother steals the next election....lol Longhorn, Bankers paid over $7 billion so far to settle suits against them re: ENRON. You don't hear that in the news though...And you won't see one of those criminals do jail time. |
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Post by troydian on Jun 6, 2006 22:35:44 GMT -4
How about a petition signed by 40000 shareholders of one company to all the basteges responsible for INACTION? would it do any good? if so lets get er done..
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Post by slowgothemo on Jun 6, 2006 22:35:56 GMT -4
Bud or Mark?
Have they discovered the person or department within the SEC that received the Milberg whistleblower's complaints, therefore launching the subsequent investigation's?
Seems to me someone inside the SEC was in the "Pocket" of Milberg.
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Post by longhorn7 on Jun 6, 2006 22:38:18 GMT -4
I s it still possible to file a class action? In the event that one is filed, to what extent will the shareholders benefit, other than maybe brining these bad guys to justice. Seems to me, that fines imposed by the SEC do not necessarily benefit the shareholder, it certainly didn't where ENRON was concerned...the only benefit was seeing them do the perp walk and donuts to dollars, bush will hand out pardons when he leaves office and his brother steals the next election....lol Thnaks "K" I was being a bit facetious to see if anyone was listening...lol Longhorn, Bankers paid over $7 billion so far to settle suits against them re: ENRON. You don't hear that in the news though...And you won't see one of those criminals do jail time. |
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Post by faulkingtruth on Jun 6, 2006 22:38:56 GMT -4
On the Bennett issue....I think he's legit, because I know for a fact he DID schedule the original Banking subcommittee hearing (I was privy to direct information to the talks about that one), but Shelby shot it down. I think Bennett and possibly Hatch are on our side, but they're close to alone on this issue, and afraid to rock the boat. Too much big money lining too many pockets. They have to be shamed into it..or voted out.
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Post by longhorn7 on Jun 6, 2006 22:39:39 GMT -4
I understand that whistle blowers no longer enjoy protection for exposing greed and corruption..anyone?
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Post by Andy Carter™ on Jun 6, 2006 22:40:58 GMT -4
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Post by faulkingtruth on Jun 6, 2006 22:42:55 GMT -4
If you handed a petition to the securities administrator in Nevada demanding action...and the NASD, AND the SEC...and select congressmen with 40,000 signtures from one company, you would see the sh*t hit the fan.
Start with this guy:
Secretary of State
Securities Division
Charles Moore
555 East Washington Avenue
5th Floor, Suite 5200
Las Vegas, NV 89101
(702) 486-2440
(702) 486-2452 (Fax)
sosmail@govmail.state.nv.us
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