Financial Compensation for Short Ladder Attacks in January and February 2021

Financial Compensation for Short Ladder Attacks in January and February 2021

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Brandon Ward started this petition to U.S. Securities and Exchange Commission

Currently, GME and AMC stock prices are actively being manipulated using a mechanism called "short ladder attacks" to depress the price of these stocks in contravention of 15 U.S.C.A. § 78i. "Short ladder attacks" occur when large institutions in possession of stocks sell them for just less than market value in rapid succession between one another in order to drive the price down. The fact that short ladder attacks exist is apparent from on-going market activity.

These attacks readily establish a prima facie case of market manipulation and warrant immediate investigation. Silence and inaction from the SEC encourages further market manipulation and diminishes public trust and faith in the U.S. Government.

Pursuant to 15 U.S.C.A. § 78i, "Manipulation of Security Prices", to prohibit manipulative and deceptive tactics that artificially depresses the price of GME and AMC securities in contravention of the laws of the United States.

From Section 78i(a); "It shall be unlawful for any person, directly or indirectly, by the use of the mails or any means or instrumentality of interstate commerce, or of any facility of any national securities exchange, or for any member of a national securities exchange -- (2) To effect, alone or with 1 or more other persons, a series of transactions in any security registered on a national securities exchange, any security not so registered, or in connection with any security-based swap or security-based swap agreement with respect to such security creating actual or apparent active trading in such security, or raising or depressing the price of such security, for the purpose of inducing the purchase or sale of such security by others."

Also, Section 78i(f) makes it clear that "Any person who willfully participates in any act or transaction in violation of subsections (a), (b), or (c) of this section, shall be liable to any person who shall purchase or sell any security at a price which was affected by such act or transaction."

We are calling on regulators to perform their assigned duties. Direct manipulation of stock prices is an on-going crisis that directly hurts public interest and is illegal. Please act now to preserve the welfare of the average investor and set a precedent that we will not tolerate this type of market manipulation.

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