Potential Criminal Indictment of Stock Basher Matthew Finston – Updated
Admin May 8, 2015 Business, Scandal and Tension, Tension 63 Comments 3,734 Views
In light of recent developments surrounding an alleged campaign to destroy the publicly traded company’s share price. CEN Biotech (OTC: FITX), a Canadian subsidiary actively engaged in seeking a licence to grow marijuana under Canada’s newly formed MMPR, has had approximately 100 documented negative and defamatory articles written against the company over the span of just 1 year, almost exclusively (60+) by just a few individuals. One of these individuals, Matt Finston, has contributed over 20 articles to this… “pool of libel”.
Today, we would like to expound further upon some of the evidence MMJ.TODAY brought to light in a recent article, and also to explain, just why Mr. Finston could in fact soon be facing criminal indictment for his feracious attacks on the company’s publicly traded value.
The Securities Exchange Act of 1934 is a law governing the secondary trading of securities (stocks, bonds, and debentures) in the United States.
Section 10 prohibits the willful manipulation of stock and the stock price as well as other fraud. It also grants a private right of action in the statute. Section 10 is the predominant all-purpose fraud provision, which includes similar conduct to that identified in Section 9, but less of a threshold of intent than that required by Section 9 and, unlike Section 9, Section 10 is applicable to unlisted/OTC companies.
SEC. 10. REGULATION OF THE USE OF MANIPULATIVE AND DECEPTIVE DEVICES
General Purpose and violations of Rule 10b-5 of the 1934 Act
The purpose of the 1934 Act is, among other things, to ensure a fair and honest marketplace.
Rule 10b-5 of the 1934 Act makes it unlawful in the connection with the purchase or sale of any securities for any person directly or indirectly by the use of any means or instrumentality of interstate commerce or of the mails, to: 1) to employ any device, scheme or artifice to defraud; 2) make any untrue statement of a material fact; 3) to engage in any act, practice or course of business which operates as a fraud or deceit upon any person.
