TSXV:SLX.P - Post by User
Post by
daw2on Jul 19, 2011 3:18am
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Post# 18845496
Is Silvermex being illegally targeted by shorts
Is Silvermex being illegally targeted by shortsI noticed with interest Silvermex's inclusion on the Nasdaq 'Threshold' Securities list for July 18th as published by Bloomberg this morning:
https://www.bloomberg.com/news/2011-07-19/nasdaq-threshold-securities-for-july-18-table-.html?cmpid=yhoo. This list originates from the SEC and details naked short sales of securities that have had a 'failure to deliver' notice against them as defined by SEC regulations (see https://www.sec.gov/spotlight/keyregshoissues.htm). On inspection of this list, I noticed that the only other stock that had a greater number of consecutive days on the list (84 days V's 66) was a company called Deer Consumer Products (DEER). On June 17th DEER released a NR announcing a 'GRANTING OF SUBPOENA POWER BY NEW YORK COURT AGAINST ILLEGAL SHORT SELLERS' (https://www.stockhouse.com/tools/?page=%2FFinancialTools%2Fsn_newsreleases%2Easp%3Fsymbol%3DDEER%26newsid%3D8210765) and in this release they highlighted:
"WARNING AGAINST CONTINUED NAKED SHORT SELLING IN DEER SHARES
As of June 16, 2011, Deer's common stock has been on the NASDAQ's Reg SHO list for 63 consecutive days, which suggests that a large number of Deer shares have not settled for 63 consecutive settlement days, reflecting continued illegal naked short selling in Deer's shares."
Is the same thing happening to Silvermex and if so, what action is the company taking to protect itself and it's shareholders?