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TOPIC: SEC Cracking down on 'Shell' Trading

SEC Cracking down on 'Shell' Trading 14 years 5 months ago #780

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[SEC Cracking down on 'Shell' Trading]
Just like anything else, there is always someone taking advantage of an idea and ripping everyone off.

ENRON was a TOTAL sham. But do we associate them to [b:deaa8da933]ALL[/b:deaa8da933] high-growth LISTED stocks? I don’t think so.

Likewise, not [b:deaa8da933]ALL[/b:deaa8da933] “Shell Companies” are dreadful "pump and dump" schemes. There are MANY “Shell Companies” that are legitimate, current in their SEC reporting requirements, and serving a practical and useful purpose by allowing a private company to go public at a much lower cost than a conventional IPO.

BIASED REPORTING
It is my opinion that the story (“SEC Cracking Down on ‘Shell’ Trading”, 6/8/2004) from “TheStreet.com” should have contrasted the mentioned non-listed junk pinksheet “Shell Companies” to the many legitimate SEC reporting “Shell Companies” listed on the OTCBB.

NOTE: none of the sham “Shell Companies” listed in the article appear on the ShellStockReview.com Profile List.

http://www.thestreet.com/_tscs/markets/matthewgoldstein/10165106.html

http://www.sec.gov/litigation/admin/34-49823-o-1.htm
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