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Asia Broadband Initiates Legal Action Against Market Makers For Price Manipulation
Asia Broadband Initiates Legal Action Against Market Makers For Price Manipulation.
About this update from Asia Broadband, Inc.
[{"type":"text","content":"\n LAS VEGAS, April 18, 2023 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) announced today that the Company has initiated legal action against certain market makers for AABB shares on OTC Markets. The Company’s attorneys have delivered demand letters to market makers ordering them to cease and desist the practices of naked short selling and the other associated illegal and rule violation activities intended to manipulate the price of AABB stock. These demands are the first step in the legal process and the Company is prepared to file an immediate lawsuit for failure to comply to the cease and desist order. Furthemore, AABB is in the process of gathering historical trade data, such as short sale failures to borrow and deliver, to support its legal actions going forward. This legal initiative by the Company has progressed significantly in recent months due to the many shareholder and public complaints received expressing that AABB’s share price has been subjected to long-term repression by false and deceptive trading practices on a daily and continuous basis. Similarly, other OTC Market issuers have already publicly exposed and legally challenged the pervasive and chronic market maker manipulation practices. https://www.cohenmilstein.com/update/northwest-biotherapeutics-files-lawsuit-against-major-market-makers-market-manipulation In regard to other legal matters, the Company is also pursuing defamation legal action against several parties for numerous false and malicious internet posts on various public platforms and websites. AABB management is determined to pursue and hold accountable the parties responsible for the misinformation and defamatory assaults and has hired private investigation services to reveal and confirm identities. Several years ago, the Company experienced similar defamation attacks on public platforms, which were resolved and the platform posts were permanently removed prior to legal action. “We are excited to have now taken the first legal step to stop the price manipulation. It is management’s obligation to shareholders to do everything in our power to protect their investments in our Company’s shares. AABB’s price is not reflecting the true value attributed to the Company’s successes in recent years due to dec...