Discussion in 'Stocks' started by pumpanddumper, Jan 28, 2008.
Wtf happened to this pump and dump? Lawsuits and what have you?
Its brother FRPT is going up and I see TASR making a run too. Maybe if war looms in Iran then both these stocks can make another run to $30-40 range.
How do you make an intelligent investment decision w/shit like this happening. Tasr hit 8.25 into this company making all kinds of claims. TASR has been manipulated for over three years that I know of. The SEC needs to be boarded up, per Blumenthal at 7:19 on CNBC, when he said "they have failed."
08:24 TASR TASER: Cloud covering TASR's competitive advantage should be removed by SEC complaint against Stinger - Jefferies (11.20 )
Jefferies notes that the SEC filed a complaint with a U.S. District Court, alleging Stinger Systems made a series of material misrepresentations and omissions regarding its stun gun product in 2004-05. Firm thinks this complaint should alleviate confusion impacting TASR stock, and likely discourages potential buyers of Stinger products while the DoJ pursues legal action.
Taser Shareholders Accuse Goldman Sachs of Naked Short Selling
By Andrew Harris
May 28 (Bloomberg) -- Goldman Sachs Group Inc. and a Merrill Lynch & Co. unit were among eight financial firms sued by Taser International Inc. shareholders claiming stock-price manipulation through illegal short selling.
``The defendants have substantially injured plaintiffs, while at the same time reaping enormous profits, by knowingly and intentionally creating, loaning and selling unauthorized counterfeit shares of Taser stock,'' the shareholders said in a complaint filed yesterday in state court in Atlanta.
In routine short selling, stocks are borrowed and then sold in anticipation of falling prices in hopes of repaying the loan with cheaper shares bought at a later date. The Taser investors accuse the brokerages of so-called naked short selling by placing electronic orders to sell shares without borrowing the corresponding shares or actually delivering them to the buyer.
Taser, based Scottsdale, Arizona, is the world's biggest manufacturer of electronic stun guns. The weapons, used by law enforcement agencies, fire darts attached to wires that can deliver a 50,000 volt electric shock.
About 40 current and former Taser shareholders are plaintiffs in the lawsuit, which accuses the firms or their units of creating phantom or counterfeit Taser shares and diluting the value of authentic shares. The firms continued the illegal sales practices after being fined by market regulators, according to the complaint.
Taser has lost 50 percent of its value this year. The suing investors seek unspecified money damages.
Goldman Sachs spokesman Ed Canaday declined to comment on the lawsuit. Mark Herr, a spokesman for New York-based Merrill Lynch, couldn't immediately comment on the litigation. Merrill owns a passive 20 percent stake in Bloomberg LP, the parent of Bloomberg News.
Taser spokesman Steve Tuttle didn't immediately return a call seeking comment. The company is holding its annual shareholders' meeting today in Phoenix.
The case is Batchelor v. Morgan Stanley & Co., 2008EV004739B, Georgia State Court, Fulton County (Atlanta).
More lawsuits on the horizon for TaSr.
Two Canadian doctors ruled Tasrs interrupt cardiac function and contribute to death.
Common sense, here. 50,000 volts depolarizes muscular neurons but not cardiac neurons. Uhh...okay.
Police say no way. They love their tasrs. Makes the continuum of force real easy to remember.
Shout. Tasr. Kill.
And this would have what to do with a RICO lawsuit alleging fraud?
Stuff RICO. I'm talking about wrongful death lawsuits.
TASR is a P&D.
The ppl that run this company are so nice to me. Serious note, they have picked me up on with their company jet twice.
The biggest problem with this company is that the housing crisis is destroying local government revenue (property taxes are way down), ergo, law enforcement agencies are not exactly flush with the kind of cash that made secondary, standardized "less than lethal" weapon systems painless to adopt financially, as in the boom years.
In times like these, discretionary items are the first on the chopping block, and the TASR systems were definitely discretionary for local law enforcement.
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