Hell hath no fury like a rich person whose been made a fool of.
Hopefully, the discovery process will be more thorough and enlightening and “transparent” than internal audit by inspector general Kotz.
I guess the investors bear utterly no culpability for believing one could get the same solid rate of return year after year after year.
This may have merit and legs. The incompetence of the SEC in dealing with this yahoo has been simply stunning. And should be actionable.
No, not the South Eastern Conference. . . . The other SEC. . .
And the big loser will be the, now wait, think about it, now run and look in a mirror and hold the picture of your grand kids in front of you.
I wish it were possible to bet on lawsuits on InTrade.com. Immunity will stand, and the suit will be thrown out. Maybe I skimmed too quickly, but I didn’t see the names of any attorneys involved. If this is being filed pro se, it because an attorney would know:
1) The suit is a loser, plus,
2) The attorney would additionally get sanctioned by the court for bringing a frivolous suit, and,
3) The plaintiffs’ attorney would thereby suffer a subsequent loss of reputation and income.
Interesting. They were, however, unconcerned with the SEC when their “investments” were trending upwards. It’s apparent the authorities were notified several times that there was likely fraud going on. What a mess.