real-time news and commentary for investors
Wednesday, Jul 10
Biozoom (BIZM.OB) came off a trading suspension Wednesday and plummeted 87% during the session....
Biozoom (BIZM.OB) came off a trading suspension Wednesday and plummeted 87% during the session. Trading was halted by the SEC on June 25 due to a "lack of current and accurate information" (pdf). Since then, the regulator has sued 10 Argentine citizens alleging they illegally sold millions of BIZM shares. The lawsuit, combined with the trading suspension, "demonstrate the SEC’s ability and commitment to act swiftly to halt ongoing illegal conduct and preserve assets," the SEC's associate director of enforcement said. SA Pro contributor Ashraf Eassa called it on two separate occasions (here and here).