FINRA falsely labeled the 12/8/22 $MMTLP Corporate Action, an "Exchanged" Event Type action, but when you observe the details, it was created to actually be a "Deletion" of the MMTLP trading symbol.
This is problematic because Metamaterials NEVER mentioned "Deletion" in any of their previous disclosures...
There are no other examples of "Exchanged" event type Corporate Actions including any mention of Symbol Deletion...
And FINRA claims that they do not initiate, approve, or conduct the underlying corporate action that the issuer is taking...
But FINRA did conduct the underlying 12/8/22 MMTLP Corporate Action because the main focus was to DELETE the trading symbol!!!
FINRA constantly lies and the SEC just looks the other way!
How long is the @SECGov going to overlook this?!
$MMTLP INTER-COASTAL FILES APPEAL: SAME FIGHT, SAME OUTCOME INCOMING
In today’s episode of “Return of the Rake: It’s Not Over ‘Til It’s Over… But It’s Still Over”, Inter-Coastal Waterways is back yet again... this time taking their appeal to the Eleventh Circuit. After the district court denied their motion to reopen the case, they’re now hoping that the appeals court will save them from arbitration.
Spoiler alert: it won’t.
Let’s break this down.
First, let me be clear about what I think this appeal actually is: a delay tactic. The district court already called this a second bite at the apple, and the judge wasn’t buying it. The ruling laid it out: "Plaintiff offers scant reasons for relief under Rule 60(b)(6)." Translation? They had nothing. Now, instead of accepting defeat, they’re running to the Eleventh Circuit hoping for a Hail Mary reversal.
So what’s the argument? That this should be a class action, and since FINRA doesn’t allow class actions, it has to stay in court. But here’s the problem... the time to make that argument was BEFORE they lost the arbitration fight. Not after. The judge already said they had their chance to amend the complaint earlier, and they didn’t take it. Instead, they waited until they got sent to arbitration, then tried to hit reset. This ain't Nintendo. There is no reset button. That didn’t work before, and in my opinion, it is not going to work now.
My guess is that the Eleventh Circuit is going to look at this and ask one question: Did the district court abuse its discretion? That, to me, is pretty much the core of this issue. And the answer... to me anyway... is a pretty obvious no. Courts don’t like it when plaintiffs try to rewrite their case after losing. The judge saw right through it, and my guess is that the appeals court probably will too.
Most likely outcome? Appeal denied. Gonna be interesting to see if they attempt to appeal yet again if and when that happens, though.
Honestly, I'm surprised they filed this thing. At this point, Inter-Coastal is just burning time and money. Maybe they think dragging this out will make TradeStation make some exorbitant offer to settle? Maybe they’re just not ready to admit they lost. Either way, the end result isn’t changing. This case is staying in arbitration, where it should have been from the start. For the appeals court to overrule it would circumvent legal principles that have been codified into Federal Law. It's just not going to happen.
Final verdict? Denied.
But hey... as the old saying goes, you can always blame Drew.
Join us for our next episode, "Please G-d, Jesus, Moses, Allah, and Joe Pesci.... Let This Whole Thing Be Over Soon", where I will straight up cry for 90 minutes because I still have to read these legal filings.
#MMTLP After pretending ignorance of #MMTLPFIASCO for 800+ days, #SEC demanding #NBH refile 6 10Qs & 2 annual reports while at the same time pretend the merger never happened is complete BS 💩.Setting #NBH this Herculean task is just a delay tactic to face the inevitable.⏰️
Court orders Citadel to appear for examination in the MMTLP case, probing their role in the stock’s trading halt and investor losses.
Could this be the crack that exposes Wall Street’s secrets?
https://t.co/tgua8WCw3E
$DJT $TSLA $MMTLP $AMC $GME
#MMTLP 827 Days! This is unprecedented‼️A govt approved regulator #FINRA robs shareholders our 2 days of trading, then #SEC pretends ignorance but prevents #NBH from moving forward by delaying S1 approval. Politicians give us some lip service, but when resolution ⁉️ #MMTLPFIASCO
#MMTLP is the largest known, financial crime in world history and most of the media still hasn’t reported on it yet.
They’ll have to do so soon…
$DJT $TSLA $MMTLP $AMC $GME