what happened to this stock, page-8

make a stand, time to take on the so called might of ASIC, and just remember, every half cent they (bots) manipulate AZH reduces the (what's left of it) market cap by OVER 2 MILLION DOLLARS

todays latest "trades"

11:01:34 AM 0.240 57 13.68
10:59:49 AM 0.240 58 13.92
10:58:49 AM 0.235 492 115.62
10:58:04 AM 0.240 60 14.40
10:56:19 AM 0.240 60 14.40
10:54:19 AM 0.240 61 14.64
10:51:59 AM 0.240 62 14.88
10:49:19 AM 0.240 62 14.88
10:46:04 AM 0.240 60 14.40
10:45:38 AM 0.240 61 14.64
10:45:38 AM 0.240 63 15.12
10:45:38 AM 0.240 63 15.12
10:45:38 AM 0.240 65 15.60
10:45:38 AM 0.240 65 15.60
10:45:38 AM 0.240 67 16.08
10:45:38 AM 0.240 67 16.08
10:45:38 AM 0.240 67 16.08
10:45:37 AM 0.240 66 15.84
10:45:37 AM 0.240 32 7.68
10:45:37 AM 0.240 66 15.84


Here is the relevant part of the Corporations Act, can anyone see any breaches that ASIC/ASX have failed to prosecute in the past decade when they have been the regulator ?

CORPORATIONS ACT 2001 - SECT 1041C

False trading and market rigging--artificially maintaining etc. Trading price

(1) A person must not (whether in this jurisdiction or elsewhere) enter into, or engage in, a fictitious or artificial transaction or device if that transaction or device results in:

(a) the price for trading in financial products on a financial market operated in this jurisdiction being maintained, inflated or depressed; or

(b) fluctuations in the price for trading in financial products on a financial market operated in this jurisdiction.

Note 1: Failure to comply with this subsection is an offence (see subsection 1311(1)). For defences to a prosecution based on this subsection, see Division 4.

Note 2: This subsection is also a civil penalty provision (see section 1317E). For relief from liability to a civil penalty relating to this subsection, see Division 4 and section 1317S.

(2) In determining whether a transaction is fictitious or artificial for the purposes of subsection (1), the fact that the transaction is, or was at any time, intended by the parties who entered into it to have effect according to its terms is not conclusive.

and finally, courtesy of Switzer show on SKY Business, a professor speaks about market manipulation and insider trading.

Lawyer contact information

Richard Ryan
Maurice Blackburn Lawyers (Sydney)
Re: potential HFT class action

Ph: (02) 9261-3318
E-Mail: [email protected]

Richard Ryan - Maurice Blackburn Lawyers (Sydney)

http://www.mauriceblackburn.com.au/our-people/professional/richard-ryan.aspx

Send them an e-mail, or place a phone call, saying you will support a class action against High Frequency Trading and Algorithmic Trading on the ASX.