GREY:LEDIF - Post by User
Comment by
ledrogon Nov 02, 2015 4:41pm
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Post# 24251419
RE:RE:RE:RE:Looks like I'm not the only one who's turned bearish here...
RE:RE:RE:RE:Looks like I'm not the only one who's turned bearish here...Here's the link to the decision....
https://www.sec.gov/litigation/litreleases/lr19058.htm
The promoters were fined $500 for scalping..of Gane this is what it says:
Finally, the court found that, while Gane was "surely negligent" in connection with a material omission in the due diligence package, he did not act with "severe recklessness," the applicable standard for scienter in the Eleventh Circuit, and therefore, Gane was not liable for securities fraud under Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.
Typical isn't it.....investors get fleeced and those responsible get slapped on the wrist. Just $500 fines after making millions.