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In an amazing show of
brain dead hubris, Universal Express CEO Richard Altomare has filed suit
against the Securities and Exchange Commission claiming that they are engaged
in a systematic campaign of harrassment against him because of his public
pronouncements about the evils of naked shorting. Well, not actually. What the suit does reveal is that the SEC is conducting an unbelievably thorough examination of USXP's numerous bogus claims made in dozens of press releases, looking at every nickle that has come into and gone out of the company for a 70 month period, and looking into the connections between Universal Express and 12 named individuals and their organization. The Altomare/Gunderson suit was filed with no public fanfare, but quickly discovered. It provides unusual insights into the SEC investigative process through Altomare's describing and whining about scores of subpoenae. |
