May 26, 2013
Please do not accept Goldman's application for exemption in the case of W2007 Grace Acquisition1.
Not only should the SEC deny the Goldman application, there should be a serious investigation into fraud, manipulation, insider trading, and self-dealing in this case.
I have been involved in the purchase and sales of public and private securities since 1960 and I have rarely seen a case of such bold and brazen manipulation.
The W2007 Grace Acq1 offenses include:
1) Violation of the Board's Duty of care to preferred shareholders in the sale of ENN to W2007 Grace Acq1.
2) Cessation of the dividend to preferred holders.
3) Delisting of the preferred stock
4) Withholding of information to preferred shareholders
5) Failure to appoint 2 Board representatives to represent the preferreds
6) Aggressively buying up the preferred shares for a fraction of their true value.
Taken as a whole, the Goldman-related group's actions in this matter deserve to be carefully reviewed by the SEC.
Please do not further enable this injustice by allowing Goldman to receive a waiver to provide information to the preferreds.
Sincerely
James A Lynch
Managing Director
Draper Atlantic