June 11, 2011
The following information on our site needs to be investigated.
These individuals are using naked short selling tactics to profit off inside information and unproven (and later disproved) allegations.
Unregulated "Research" Firms such as:
Glaucus Research Group
And individuals such as:
Richard X Roe (on seeking alpha)
Rick Pierson (on the street.com)
Are all using naked short selling and front running reports that intend to move the market to profit at the expense of the average shareholder.
The companies they have employed naked short selling tactics, then wrote reports that contained allegations that were easily disproved by the companies. Yet the damage was done. The securities fell, by at times, greater than 30% in value despite the allegations being disproved by the company.
We believe naked short selling techniques and the use of manipulative "research" reports by unregulated firms should be investigated for the good of the American people, the global market place and the integrity of the markets.
They won't stop until this is taken serious. They are not intending to help uncover fraudulent activities. They are using the buzz of the 14 out 600 companies that have been halted to manipulate other securities.
We believe all integrity and rules of the market are being destroyed due to lack of enforcement.