Anyone catch this great read recently: http://www
Post# of 8802
Posted On: 07/17/2016 5:50:19 PM
Anyone catch this great read recently:
http://www.otcmarkets.com/stock/GOSY/news/Gec...62&b=y
CONYERS, Ga., July 8, 2016 -- GeckoSystems Intl. Corp. (Pink Sheets: GOSY | http://www.geckosystems.com/) announced today that the benefits from a recent Supreme Court of the United States (SCOTUS) ruling that expands states’ rights by enabling state courts jurisdiction in other states to lower litigation costs for plaintiffs seeking damages for naked shorting, propagating false rumors to depress the company stock price, etc. is of particular relevance and potentially dramatic benefit to the Company’s 1300+ shareholders. For over nineteen years GeckoSystems has dedicated itself to development of "AI Mobile Robot Solutions for Safety, Security and Service(tm)."
This SCOTUS decision is most significant for companies that are small and technology driven such as GeckoSystems. Many of those companies have suffered for years while they have seen their stock manipulated by naked shorting and false rumors, all done to drive the stock price down for excessive and illegal profits to brokerages, such as Merrill-Lynch. On July 10, 2015, GeckoSystems’ senior management and majority stockholders filed a Georgia Racketeer Influence and Corrupt Organizations (RICO) Act suit in the Rockdale County Superior Court in Conyers, GA. http://tinyurl.com/qhl3uzu
“For some years, all of our shareholders and the tens of thousands that hold stock in other stock manipulated companies have suffered losses due to ongoing stock price manipulation by brokerages large and small. These predatory brokerages, intent on making more money as they false rumor the price down, to cover their naked shorts to achieve unjust enrichment, have hidden behind the now pierced veil of only being sued in Federal courts. No doubt, it is readily apparent that this new States’ Rights affirmation by SCOTUS will be welcomed by the thousands of publicly traded companies preyed upon since they could not afford to initiate and consummate litigation successfully in Federal courts,” summarized Martin Spencer, Founder/CEO, GeckoSystems
“‘Naked’ short sellers squeezed by Supreme Court”
Published by AMI Newswire May 16, 2016
In a sweeping blow to Wall Street investment giants, the U.S. Supreme Court today unanimously allowed lawsuits against "naked" short sellers in state courts to proceed.
The high court ruled unanimously that shareholders are not confined to federal court when seeking recourse for securities violations. Granting “due deference to the important role of state courts,” the Court reinforced federalist principles while clarifying congressional intentions to limit the federal government’s role.
The ruling, which could give a new boost to startups and small companies targeted by short sellers, showed a rare moment of ideological agreement in the court. Justice Elena Kagan authored the Court’s opinion, and Justice Clarence Thomas, joined by Justice Sonia Sotomayor, issued a concurrence.
In 2012, businessman Greg Manning sued Merrill Lynch and other financial institutions in New Jersey state court for purposefully devaluing his company through systematic “naked” short-selling — a term used to describe selling a stock a seller does not own and has not borrowed. In standard short sales, traders either borrow a stock or make sure that it can be borrowed prior to selling it short in the hope that its value will fall before the transaction must be covered.
The practice has come under increasing scrutiny and has been banned in Germany and other major economies.
http://www.otcmarkets.com/stock/GOSY/news/Gec...62&b=y
CONYERS, Ga., July 8, 2016 -- GeckoSystems Intl. Corp. (Pink Sheets: GOSY | http://www.geckosystems.com/) announced today that the benefits from a recent Supreme Court of the United States (SCOTUS) ruling that expands states’ rights by enabling state courts jurisdiction in other states to lower litigation costs for plaintiffs seeking damages for naked shorting, propagating false rumors to depress the company stock price, etc. is of particular relevance and potentially dramatic benefit to the Company’s 1300+ shareholders. For over nineteen years GeckoSystems has dedicated itself to development of "AI Mobile Robot Solutions for Safety, Security and Service(tm)."
This SCOTUS decision is most significant for companies that are small and technology driven such as GeckoSystems. Many of those companies have suffered for years while they have seen their stock manipulated by naked shorting and false rumors, all done to drive the stock price down for excessive and illegal profits to brokerages, such as Merrill-Lynch. On July 10, 2015, GeckoSystems’ senior management and majority stockholders filed a Georgia Racketeer Influence and Corrupt Organizations (RICO) Act suit in the Rockdale County Superior Court in Conyers, GA. http://tinyurl.com/qhl3uzu
“For some years, all of our shareholders and the tens of thousands that hold stock in other stock manipulated companies have suffered losses due to ongoing stock price manipulation by brokerages large and small. These predatory brokerages, intent on making more money as they false rumor the price down, to cover their naked shorts to achieve unjust enrichment, have hidden behind the now pierced veil of only being sued in Federal courts. No doubt, it is readily apparent that this new States’ Rights affirmation by SCOTUS will be welcomed by the thousands of publicly traded companies preyed upon since they could not afford to initiate and consummate litigation successfully in Federal courts,” summarized Martin Spencer, Founder/CEO, GeckoSystems
“‘Naked’ short sellers squeezed by Supreme Court”
Published by AMI Newswire May 16, 2016
In a sweeping blow to Wall Street investment giants, the U.S. Supreme Court today unanimously allowed lawsuits against "naked" short sellers in state courts to proceed.
The high court ruled unanimously that shareholders are not confined to federal court when seeking recourse for securities violations. Granting “due deference to the important role of state courts,” the Court reinforced federalist principles while clarifying congressional intentions to limit the federal government’s role.
The ruling, which could give a new boost to startups and small companies targeted by short sellers, showed a rare moment of ideological agreement in the court. Justice Elena Kagan authored the Court’s opinion, and Justice Clarence Thomas, joined by Justice Sonia Sotomayor, issued a concurrence.
In 2012, businessman Greg Manning sued Merrill Lynch and other financial institutions in New Jersey state court for purposefully devaluing his company through systematic “naked” short-selling — a term used to describe selling a stock a seller does not own and has not borrowed. In standard short sales, traders either borrow a stock or make sure that it can be borrowed prior to selling it short in the hope that its value will fall before the transaction must be covered.
The practice has come under increasing scrutiny and has been banned in Germany and other major economies.
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