Silvercorp Metals (NYSE: SVM) Filed a Lawsuit Against Various Short Sellers
byon 09-26-2011 at 10:39 AM (503 Views)
Having owned this company, pre forward split, from 0.69 many years ago I was very focused on the recent news and actions of the one-note symphony that the hungry for rapacious-profits short selling the-street gang.
repost from Small Cap Network
Silvercorp Metals is a Canadian company involved in the acquisition, exploration, development and mining of high-grade silver properties primarily in China as well as in Canada. On Thursday, Silvercorp Metals filed a lawsuit in New York County Supreme Court charging that Alfredlittle.com, Alfred Little, Chinastockwatch.com, Jerry Katz, Simon Moore plus several "John Doe" defendants with spreading "false, defamatory and fraudulent" information about the company on the Internet and as well as in letters to the media and to regulators. Silvercorp Metals alleges that these defendants had attempted to drive down the price of the company’s stock in order to profit from short positions. However and on Friday, Silvercorp Metals fell only 1.32% to $6.73 (SVM has a 52 week trading range of $5.86 to $16.32 a share) while other silver stocks fell by as much as 10%. And while the short seller allegations against Silvercorp Metals are also being investigated, the company’s highly proactive response thus far should have investors taking notice.
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