The following is the abridged text of a letter that I have forwarded to Mr.Greg Medcraft,Chairman, Australian Securities and Investments Commission on the 19th July, 2013, concerning CuDeco(CDU) Limited Trading
Further to my email of the 29th May, 2013, on the abovementioned subject, I wish to advise that a further blog update has now been published on the web.
The report assesses IRESS broker data regarding the trading in Lynas Corporation(LYC)and expands upon anomalous market trends identified in regard to Lynas in Section 2 of Research Paper 7.1 first referred to in my letter of the 9th March, 2013.
The report is titled: 7.4 A Review of Lynas Trading Based on Iress Broker Data.It is available on the following link:
As mentioned previously, research has been initiated because of persistent data anomalies regarding trading in CuDeco Limited, with the current aim of research being to establish conclusively that share price manipulation is an issue likely to severely impact stocks across the entire ASX.
The anomalies identified regarding trading in Lynas Corporation, complement the recent research concerning Linc Energy(Chapter 7.2) and Billabong Corporation(Chapter 7.3)and again point to systemic problems affecting the ASX.
The full ”CuDeco Shareholder Research” document is available for down loading on
http://www.s......com/cudeco_research
Recently, the decision handed down by the High Court of Australia where seven judges unanimously agreed, that buying or selling shares on the share market to maintain a share price should be considered market manipulation under the Corporations Act.
This may also mean that much of the trading activity identified in the “CuDeco Shareholder Research” document potentially qualifies as market manipulation under the Corporations Act.
Therefore, the matter is referred for a thorough investigation by the Regulator.
Yours sincerely,
Maxw..."
Referred for the information of CDU shareholders concerned.
cheers,
Max
CDU Price at posting:
$1.77 Sentiment: Buy Disclosure: Held
