RE:RE:what is the worst that can happen here ?mdjbrown wrote: knowsnothing, ever hear of guilty by association.
If they knew about the misleading cooments and did nothing to prevent it from happening, they are just as guilty.
I expect everyone involved will have an uncomfortable visit with some less than friendly regulators, sooner than later.
Remember, this debacle made all the securities folks look bad, for not acting on it sooner, so there will be a steep price to pay for the fall guy.
jmo
Pretty hard to prove anybody not involved in the composing and/or presentation of the misleading comments even read the comments. A big danger here is that there will be nobody left to manage the company. As long as there's somebody left in control there's no reason to delist (unless the regulators just see delisting as the easiest way to make the problem go away). Longer term the loss of goodwill and credibility will damage the company's ability to make agreements.
On the plus side if the company is actually in posession of valuable intellectual property SJL might be a tempting takeover target (at bargain prices) - as long as there are no outstanding lawsuits specifically against the company vs only against the guilty parties..