He bought shares and there is typically a lock period where executives are not allowed to sell shares after a spac goes public. So politely, that is entirely bull****.
So true. What happens all the time is that investors claim they were mislead into buying the stock. This is very, very difficult to prove, especially in a bear market, because the evidence has to show that the company knowingly made false, misleading statements to fraudulently increase value of its stock price.
These lawsuits are much more common than people know and they very rarely lead to any recovery because without a smoking gun it's almost impossible to prove.
Try explaining that to the OP, some people just don’t even get the use of the word “investigation“ in this context
Pretty soon I'll be an investor... Waiting to see if it hits or dips below a dollar... I mean where it is now seems ok to buy but at this point I'll hang on and see...But WHAT investors? Ruiz and Quezada own like 99% of the company!! Makes it even harder to prove.
There probably are not many. But firms like this look for any security that has had a substantial drop, especially a newer one, and solicit clients hoping to find people who feel cheated or short changed by what they have lost. Then they hope to get enough clients that they are certified as a Class; hence a class action suit, and hope that the company will settle rather than have to defend a class action suit.But WHAT investors? Ruiz and Quezada own like 99% of the company!! Makes it even harder to prove.
There probably are not many. But firms like this look for any security that has had a substantial drop, especially a newer one, and solicit clients hoping to find people who feel cheated or short changed by what they have lost. Then they hope to get enough clients that they are certified as a Class; hence a class action suit, and hope that the company will settle rather than have to defend a class action suit.
This has nothing to do with this specific company beyond the drop in the stock price. During a bear market where all equities, and particularly those operation at a loss, are being hammered.
He definitely needs to stand up to them or he will just have more scum like this coming after him as an easy mark; which we know he is not.I'v said as much. A bunch of scumbags. Seems like Ruiz might sue them for something. Or at least f with them in some way. Per twitters.
Heres a good example from one of the stocks i follow. Whole news feed is spammed by lawyers for months on end.This is really common in the equity space. Anytime a stock drops ambulance chasers show up. Literally dozens of lawyers will spam their services.
Heres a good example from one of the stocks i follow. Whole news feed is spammed by lawyers for months on end.
I meant more in terms of his ability to pull some liquidity out leading up to the public offering. So essentially did he get $X pre public at $32bn or whatever valuation and then rebuy this week in the $1.50-2.50 range?He actually BOUGHT more shares in the open market this week.
It's down to $1.10 right now... I'm still waiting to see how far it drops before I jump in.... Was talking about this with some other poster the other day.. Most agreed to sit and wait a bit more...
The difference is that the sports media scumbags are trying to use this as evidence that we can't pay or that the NIL deals will fall through.Heres a good example from one of the stocks i follow. Whole news feed is spammed by lawyers for months on end.