quote:
Originally posted by Qbidder:
hey Profit and everyone!
excuse my ignorance
2 questions
1) where u get that info about NITE shorting
2) what does that mean for us??
What this means is that the SEC can do an investigation into this shorting.
The only problem is.....The fine is usually not near the profit made from these shortings so........It does not matter to NITE.
Like Howard being fined......Nothing compared to the profit from the ratings.
Copied this from elsewhere. Good read.
Well lets SEE IF?? the SEC & FBI do care about SHORT Sells as well as Bashers trying to bash our QBID, Read this Bashers they are now watching you bums:
COMPLAINT
V.
INTRODUCTION
Beginning on or about August 20, 1998 and continuing through to the present, Defendants Janice Shell, Dean Dumont, D. Tod Pauly, Jeffrey Mitchell, Cynthia DeMonte, DeMonte & Associates, a New York corporation, Silicon Investor, a Delaware corporation, Raging Bull, a Delaware corporation, John Doe No. 1 a/k/a/ Carl W DOES I through CXIII, and BLACK CORPORATIONS I through X, Inclusive, intentionally and maliciously published and republished, to third parties, a variety of unprivileged and unprotected false and defamatory statements concerning AMAZON NATURAL TREASURES, INC. (herein after referred to as "AMAZON") in a nationwide "CYBERSMEAR" campaign on electronic bulletin boards maintained by Raging Bull, Inc. ("Raging Bull"), Silicon Investor, Inc. ("Silicon Investor") and an Internet Web Site called Magneticdiary. These defamatory statements explicitly states and/or have the general import, effect, and meaning that Amazon was engaging in illegitimate, illegal, dishonest, fraudulent, and criminal business operations, when, in truth and fact the Defendants knew, should have known, and/or had reckless disregard for the truth or falsity thereof, that such statements were false and libelous per se. Such defamatory publications include statements that are libelous per se, such as Amazon is being run by "criminals", the Company is operating a "scam". Such statements were not merely expressions of the authors' opinions, but rather were expressed as statements of fact.
VI.
Defendants published and republished thousands of postings, many of which are false and defamatory, on the Internet to injure Amazon, discredit the business methods of Amazon, destroy the business reputation and goodwill of Amazon, negatively affect public confidence in Amazon, deter third persons, including customers, shareholders, and others, from dealing with Amazon and/or to unlawfully drive the price of Amazon's common stock into a downward spiral to enable the Defendants and those acting in concert with or under the direction of one or more of them, to illegally profit by "short" selling Amazon common stock. Plaintiff Amazon wishes to enter into evidence the entire thread of Silicon Investor and Raging Bull Website, because they contain thousands of defamatory and libelous postings against Amazon, too numerous to reproduce for the Court, herein. Therefore, Plaintiff refers to Silicon Investor's entire website thread as Composite Exhibit 1, and incorporates specifically herein by reference. Plaintiff reference to Raging Bull's entire website thread as Composite Exhibit 2, and incorporates specifically herein by reference
VII.
Upon information and belief, some or all of the Defendants are being paid by short sellers, in cash or securities, to post false and defamatory messages on the Internet about Amazon and receive bonuses for driving down the price of the Company's common stock. Upon information and belief, the Defendants operate their "cybersmear" campaign systematically on a selected target company, in this case Amazon, until a desired target price is reached, and then they move on like a "wolf pack" to the next victim.
VIII.
It is unlawful to "short sell" shares of OTC Bulletin Board stock such as Amazon's AZNT, in violation of Rule 3b and 10a of the Securities Exchange Act of 1934 (17CFR 240.3b and 17CFR 240.10a).
IX.
That Plaintiff is informed and believes and thereon alleges that Defendants, each and all of them, have aided and abetted, and lent active assistance to stock brokerage houses, their officers, agents and representatives to violate Rule 10a of the Securities Exchange Act of 1934 by "short selling" Amazon's stock. The defamatory and libelous acts of Defendants, each and all of them, have aided and abetted the "pump and dump" aspect of such short selling. "Pump and dump" refers to an unlawful short selling tactic of driving stock prices down to facilitate buying shares at very low prices, then allowing the market forces to raise prices so that the shorters can sell the stock for high prices or selling shares they do not own driving the price down and purchasing shares at a low price to take the place of those shares sold at a higher price. When the first short sellers and other fraudulent parties succeed in making their profits, their next step is to attempt to destroy the market for that stock, and to create a "terminal short" by driving the company out of business. In this way, the adverse parties hope to evade liability for their unlawful acts.
X.
Defendants, each and all of them, have conspired and work in active concert with the aforementioned "short-sellers" and brokers, against Amazon and Amazon stock. These "short-sellers", brokerage firms, and their agents are included among Defendants, above-named, under the title of DOES I through CXIII inclusive, and BLACK CORPORATIONS I through XX, inclusive. When the true names and identities of these Defendants are discovered, Plaintiff will seek leave of this Court to amend this Complaint to include their true names and identities.
XI.
Defendants, each and all of them, have aided and abetted the unlawful attempts of the afore-referenced brokerage firms and their agents, in the manipulation of the market in a security. This, Defendants did by publishing defamatory and libelous statements to unprivileged third parties, including the general public, against Amazon stock, and against the company. Defendants, each and all of them, also committed other acts of commission and omission which were designed to destroy the market and its natural flow of free-market forces, with respect to Amazon stock. When the full character and details concerning these unlawful acts of Defendants become known and discovered, Plaintiff will ask leave of this Court to amend this Complaint and/or to otherwise inform the Court of such acts, according to proper procedure.
XII.
The aforementioned acts of Defendants, each and all of them, were designed and perpetrated individually, and in concert each with the others, for the purpose of unjustly enriching Defendants or their agents and/or associates, and to destroy and manipulate the market in Amazon's stock, in violation of 15 U.S.C. 78(o).
XIII.
Further yet, the aforementioned acts of Defendants, each and all of them, were designed and perpetrated individually, and in concert each with the others, for the purpose of facilitating, aiding, and abetting, by means of interstate commerce and the mails, misrepresentations and other illegalities in connection with a broker's role in the purchase or sale of securities, in violation of the anti-fraud provisions of the Securities Exchange Act of 1934 (17 CFR240.10b-3).
XIV.
Indeed, some or all of the Defendants have participated in defaming others on the Internet in the same manner as Amazon, such as Travis Industries, Inc. [OTC BB: "TVSI", NOW AREE], CASHCO [OTC BB: "CHSK"], Pan American Bancorp [OTC BB: "PABN"] formerly PRWT Business Wire. Said problem with defamation on the Internet by anonymous tortfeasors has become so severe that it has prompted the Washington State Senate to propose legislation to address the abusive practice.
XV.
Indeed, to conceal, camouflage, and otherwise disguise their true identities, the Defendants posted their false and defamatory messages about Amazon on the Raging Bull, Silicon Investor Message Boards and Magneticdiary Website under fictitious names, aliases, and pseudonyms.
XVI.
As a direct, intended, and proximate result of the libelous and tortious actions of the Defendants, Amazon has, inter alia, suffered irreparable damage in the form of lost good will and professional standing, status, and reputation with customers, and has incurred monetary damages in excess of TWO HUNDRED FIFTY MILLION DOLLARS ($250,000,000.00) Specifically, the Defendants tortious conduct has, directly and/or indirectly, caused the market value for Amazon common stock to suffer a drop in value by over 95% (i.e. approximately $75 million), which, in turn, has inter alia, resulted in lost economic expectancies from various advantageous business and contractual relationships with third-parties and has or will expose the Company to numerous erroneous lawsuits.
XVII.
In this action, Amazon seeks to hold each Defendant fully responsible for all damages and irreparable injuries they have caused through monetary relief in excess of TWO HUNDRED FIFTY MILLION DOLLARS ($250,000,000.00), and injunctive relief in form of temporary, preliminary, and permanent injunctions restraining and enjoining each of the Defendants from publishing any further false and defamatory messages about Amazon on the Internet.
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