Posted On: 04/17/2016 10:05:00 PM
Post# of 11038
I'm not an attorney so I cannot tell you exactly as I'm not sure what their argument will be. To me is simple: They argue that this occurred due to a weakness in DTCC (which provides services). The law protects innocent buyers (with no knowledge of "fraud"
who are purchasing stock in good faith so liability must therefore lie with A) DTCC or 
Clients introducing shares. If they go after shareholders who reinvested, there is no basis to the claim as there is no unjust enrichment whatsoever (if they take a blanket approach I think they will lose).
TDA made a great argument at some point that when there are two innocent parties a higher standard must be held to those closest to the matter that could have prevented the "fraud".
With a good attorney, there should be no problem. However, it may be necessary to get counsel should they go after shareholders. If they do come after us, some of us may just have to show them that we also have teeth. In such a case I will be getting an attorney to handle my case.
ALL IMHO
who are purchasing stock in good faith so liability must therefore lie with A) DTCC or Clients introducing shares. If they go after shareholders who reinvested, there is no basis to the claim as there is no unjust enrichment whatsoever (if they take a blanket approach I think they will lose). TDA made a great argument at some point that when there are two innocent parties a higher standard must be held to those closest to the matter that could have prevented the "fraud".
With a good attorney, there should be no problem. However, it may be necessary to get counsel should they go after shareholders. If they do come after us, some of us may just have to show them that we also have teeth. In such a case I will be getting an attorney to handle my case.
ALL IMHO
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PLEASE READ IF YOU READ MY POSTS
I invested in Calissio Resources Group because I considered the financial statements warranted an investment. For every reader here that has been paying attention to my posts, please note the following:
1) I am not licensed to give investment advice. Everything expressed here is an opinion of my own for discussion purposes.
2) The only thing I know about the upcoming merger is that typically they are good for investors. A premium is typically offered when companies go private from what I understand. I certainly was and still am an investor before this announcement was made.
3) Finally, regarding the current OS, while there is lots of conjecture, I must rely on the only available information out there which has been presented in PRs. Therefore, OS as of the last PR was 242m. Consequently, I don't believe there is reason to believe I am a majority holder, despite recent purchases, without making a large degree of assumptions.
If anyone is wondering why I am posting this, it is because I want to make sure no one misinterprets my posts or considers I have any intent on the board other than to share potential ideas/speculate on possibilities.
I invested in Calissio Resources Group because I considered the financial statements warranted an investment. For every reader here that has been paying attention to my posts, please note the following:
1) I am not licensed to give investment advice. Everything expressed here is an opinion of my own for discussion purposes.
2) The only thing I know about the upcoming merger is that typically they are good for investors. A premium is typically offered when companies go private from what I understand. I certainly was and still am an investor before this announcement was made.
3) Finally, regarding the current OS, while there is lots of conjecture, I must rely on the only available information out there which has been presented in PRs. Therefore, OS as of the last PR was 242m. Consequently, I don't believe there is reason to believe I am a majority holder, despite recent purchases, without making a large degree of assumptions.
If anyone is wondering why I am posting this, it is because I want to make sure no one misinterprets my posts or considers I have any intent on the board other than to share potential ideas/speculate on possibilities.
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