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This really doesn't seem like an appropriate matter for the SEC. I understand they are trying to shoehorn it in there by arguing management has misled stockholders, but that is a weak argument and really just points out how the administrative state has grown too large and powerful. If they are truly committing a crime, then the DoJ needs to prove it. If there is then a claim that management misled stockholders the appropriate response is for stockholders to sue in a derivative suit.
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[–] Thisismyvoatusername ago
This really doesn't seem like an appropriate matter for the SEC. I understand they are trying to shoehorn it in there by arguing management has misled stockholders, but that is a weak argument and really just points out how the administrative state has grown too large and powerful. If they are truly committing a crime, then the DoJ needs to prove it. If there is then a claim that management misled stockholders the appropriate response is for stockholders to sue in a derivative suit.