Georgia Gulf Amends Registration Statement Again to Keep New Shares Off the Market

| About: Axiall Corporation (AXLL)

Georgia Gulf (GGC) got creamed again Wednesday, down 5%. Olin (NYSE:OLN) was down 2.4%. I have been selling GGC outright in addition to the pair position I have.

They amended their registration statement for the new shares (released a new S-1/A) again Wednesday.

In big red letters, the statement says, "The information in this prospectus is not complete and may be changed. The selling stockholders may not sell these securities until the Registration Statement filed with the Securities and Exchange Commission is effective."

I believe that the SEC has to declare a registration statement effective. I think that these amendments cause delays in the process.

It seems like they are deliberately amending the registration statement in order to keep the new shares off the market. They have previously amended it on October 7 and September 25. The original was filed on September 8.

Anyone with more securities law experience, please comment.