Posted On: 04/19/2016 3:45:12 PM
Post# of 11040
Re: Hammer_Head #9335
It's not the same thing.
COR cleared notes that were fraudulently backdated by their own clients. They failed in their duties as a clearing firm.
If COR wants to go after individual shareholders, they are opening a can of rotten worms that they really don't want to open. They can expect countersuits against them for their own participation in the fraud, and they can expect many issues to be raised that have not yet come up in this litigation.
COR cleared notes that were fraudulently backdated by their own clients. They failed in their duties as a clearing firm.
If COR wants to go after individual shareholders, they are opening a can of rotten worms that they really don't want to open. They can expect countersuits against them for their own participation in the fraud, and they can expect many issues to be raised that have not yet come up in this litigation.
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