The Illegal Naked Short Selling
of Signalife's Stock
Management's Views
Updates on Laws
Investigatory
Updates Participate
Press Releases
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| The Illegal Naked Short Selling of Signalife's Stock |
"On July 16, 2008, Christopher Cox -- Head of the Securities and Exchange Commission -- followed up on a flurry of congressional activity with an interview and appearance on CNBC. In that interview, Chairman Cox spoke in detail regarding the illegality of naked short selling of a companies' securities. These activities are unlawful and tend to manipulate the market price downward. The SEC revealed that it is now beginning a wide sweep of the industry to identify and civilly prosecute such naked short sellers. Of course, Signalife has already issued press releases about the extreme manipulation of its securities through naked short-selling as well as the massive extent of the fraud on the market practiced by these short sellers. Signalife believes that the losses to these short sellers will be in the billions of dollars due to the size and brazenness of their naked short selling activity in Signalife's securities. The purpose of this section of Signalife's website is to keep you, the public, updated on developments with respect to this important issue and how the Company is civilly and criminally prosecuting this illegality. While Signalife cannot disclose the nature or extent of any investigation into the naked short seller's unlawful activities, it is able to confirm that such an investigation is ongoing and it is able shed light over public record information regarding the results of such investigation. This portion of the website is intended to do that. The public is advised to notify the Securities and Exchange Commission regarding any short selling group of Signalife's securities, because any short selling is unlawful (there is no lawful way to borrow Signalife's securities and thus delivery is impossible)."
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