SEC Response HO::~00471659~::HO ute 00:04 Uhr
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Dear Mr. :
Thank you for contacting the U.S. Securities and Exchange Commission (SEC). We appreciate your informing us of your concerns regrading Local Corp et al.
The SEC’s Office of Investor Education and Advocacy processes many comments from individual investors and others. We keep records of the correspondence we receive in a searchable database that SEC staff may make use of in inspections, examinations, and investigations. In addition, some of the correspondence we receive is referred to other SEC offices and divisions for their review. If they have any questions or wish to respond directly to your comments, they will contact you.
Thank you for communicating your views.
Sincerely,
Kimberly A. Browning
Senior Counsel
Office of Investor Education and Advocacy
U.S. Securities and Exchange Commission
(800) 732-0330
File Attachment:
Correspondent Name: Mr. …………..
Create Date: 2015-03-14 15:43:00
Origin: Web
File #: HO::~00471659~::HO
Description:
Naked shortselling, washtrading and other additional manipulations by Local Corp is since years the target of not legal naked shortselling and washtrading, but I had never seen any acitivity of the SEC against the not legal acitivities. Yesterday we could see a new high of the criminal activities and the reason could be the following sentences in an offering of convertible bonds. “Convert Price Adjustment "In addition, the Company has agreed that, if immediately following the close of business on a specified date in March 2016 (the “Adjustment Date”), the Series A Conversion Price then in effect exceeds the price equal to the quotient of (x) the sum of the volume weighted average price of the Common Stock for each of the five consecutive trading days immediately preceding the Adjustment Date, divided by (y) five (the “Adjusted Conversion Price”), the Series A Conversion Price will be reset to the Adjusted Conversion Price as of such Adjustment Date." Facts are: Abusive naked shortselling is not legal without any other reasons. But the criminality is the double, if a second reason was the manipulation of the conversion-price. I hope, that the SEC will stop this criminal practice next at once , accuse the criminal naked shortsellers, washtraders and manipulators of the conversion-price and reset the not legal pricing yesterday. And very important, too: The SEC should take a look at the brokers of this criminals, who knowing all about the criminal activities of their clients and act as accessory by the criminal activities of their clients. I await an accuse of this criminal brokers, too, not in five years like by others in the past, next week at once - and we want to hear the names of the criminal brokers.
sec.TPLGC
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