August 4, 2008
I am a long time shareholder in Sangamo Biosciences (SGMO) and am concerned that this stock has been on the NASDAQ Reg SHO Threshold list for an exteneded period of time. I am asking you to intercede and level the playing field for small retail customers whose securities are on the Reg. SHO Threshold list. If we are not on a level playing field there is no incentive to own individual retail stocks or have private accounts.
I have worked for 25 years to build a nest egg that my wife and I will enjoy in our retirement. I have a son and daughter that I am putting through college. I AM OUTRAGED AT THE SECS and NASDAQ's FAILURE TO REGULATE NAKED SHORT SELLING AND RELATED ACTIVITIES (phony analyst reports, false rumors, etc). NAKED SHORTING IS NO DIFFERENT THAN COUNTERFEITING IF THE SHARES ARE NOT LOCATED AND DELIVERED. COUNTERFEITING IS A CRIME.
I beg you – PLEASE work with NASDAQ to restore the uptick rule, ENFORCE RegSHO with criminal penalties, break trades before settlement if shares are not delivered. These actions must be taken to protect Americans and our businesses.
SANGAMO BIOSCIENCES (SGMO) is a very promising California company with clinical trials underway for HIV, Diabetic Neuropathy, as well as partnerships with Dow Agro and Sigma Aldrich for a variety of other food and energy opportunities. SGMO has been relentlessly shorted and regularly has nearly 25% of its shares short. SGMO has been on the RegSHO threshold list as long as I can remember. SGMO employs good people, has very promising technology, maintains a loyal and knowledgeable investor base, and is being systematically attacked by naked shorts. What will the SEC do to protect SGMO, its employees and investors from this crime?