Thinkbigsti69 wrote: @Atachetatuque HERE IS A TRANSLATION OF THIS EXCELLENT ARTICLE ON PYR'S WAR AGAINST THE SHITHOUSE TROLLS
ANONYMOUS ALLEGATIONS ON THE INTERNET TOWARDS PYROGENESIS
"THIS MANIPULATION MUST STOP"
RICHARD DUFOUR
THE PRESS
PyroGense is the target of distressing remarks on the Internet and the management of the Montreal company wishes to identify the authors of these allegations to put an end to what it says is a "strategy" aimed at allowing these individuals to carry out profits.
“Several companies our size are the target of false allegations, but few companies have the courage or the time and money to do what we are doing right now,” says Rodayna Kafal, vice-president of relations with investors and the strategic business development of the Montreal company.
“If we don't do it, no one will do it for us. We do this to protect our shareholders, our employees and our customers. This manipulation must stop, ”she says.
PyroGense obtained an order from the Superior Court of Quebec on Tuesday to compel the Stockhouse site to provide it with information on people who hide behind pseudonyms to discredit the company.
Identifying the authors of the messages is a first step that could ultimately lead to legal action.
PyroGenesis management maintains that it is not concerned with merely negative feedback or questioning of the company's approach. "What concerns us is the libelous and intentionally incorrect information presented by the same few participants on forums, repeatedly, with tens or hundreds of messages a day, with the sole purpose of destabilizing actions in order to make a financial profit out of it,” explains Rodayna Kafal.Messages posted on the Stockhouse site this year claimed, among other things, that PyroGense had no value, that the stock was fraudulent and that management was hiring people solely for the purpose of manipulating investors (paid pumpers).
Rodayna Kafal says it's hard enough for small Canadian industrial companies to gain exposure. All the more so when potential investors research the company and are sometimes inundated with “intentionally inaccurate” messages. "We see that as a problem," she said.
“The market does what it does. We cannot control the stock market price. But we have a duty to serve our investors and protect the company by spreading correct information and trying to stop the flow of incorrect and defamatory statements. »
Based in Griffintown, PyroGense describes itself as a technology company that develops and markets industrial plasma processes. Its shares are listed on the Toronto Stock Exchange and NASDAQ.Rodayna Kafal says this situation has been the subject of much writing, including in a report by the law firm McMillan, which conducted an analysis of the short selling landscape in Canada in 2019.
And last December, she continues, the United States Department of Justice launched an investigation into stock market manipulation, specifically short-selling activity and the accompanying misrepresentation campaigns.
“Canadian regulators also view this issue as concerning, with the 2021 Globalization of Financial Markets Task Force specifically mentioning these same concerns and promising to expand prosecution powers for misrepresentations about public companies in various forums," says Rodayna Kafal.
“Regulators themselves have placed the responsibility on companies to find and present evidence of manipulative tactics. This is what we do. »
The company's title migrated from the TSX Venture Exchange to the Toronto Stock Exchange at the end of 2020.
PyroGenesis stock went from below $1 in 2020 to over $12 last year before falling back to its current price below $2.
Shares of “many” listed companies are under pressure from manipulative practices, says Rodayna Kafal.
“Small-cap growth companies are particularly targeted, given the possibility of a strong upside in the share price based on potential, but in the absence – for the moment – of what is considered a corresponding income. »