Title
Glaser v ENZO
Glaser v ENZO
1:02 cv 01242 GBL ED VA
Gerald Bruce Lee (Later reviewed by Chief Judge William Traxler for an actual Financial conflict)
Wilkins
Wilkinson
Gregory
Shedd
Anderson
ENZO Biochem and others as named (Ticker ENZ on the NYSE)
Michael Rovell Esq (Deceased ~ 2009) , Chic Ill.
Morrison Cohen, Counsel to ENZO and its controlling insiders, Pled that the insiders did not sell any stock in the period in question. They Declared this and attested that it was true. In case 06 civ 00170 sd ny sas, the same people, time frame and stock in question, in document 116, they declare and attest that they did sell stock. In this case' Judicial review, in the opinions, the Judge ruled the sales took place and required disclosure, filing of Form 4, reporting to the shareholders in the financial statements, and true Oxley Sarbanes Certifications. In my opinion, Morrison Cohen was and is still required to tell the Courts where these cases were heard, they presided over the sales events and had direct knowledge, having Counseled the sales of stock. To then declare and attest no stock was sold, then flip and admit stock was sold, plays on the discovery process before the Court. The Court is never made aware the law firm knew at all times about the sale. This translates to countless millions paid to the Law Firm for the defense of a deliberate act, defrauding the investors both before and after the sales.
Larryglaser@aol.com
Federal District Court
Lawrence F. Glaser and Family
Donald Howard Chase, Morrison Cohen, Ny Ny
There are other reasons why a shareholder would buy and then sell 24 hours later, such as margin maintenance and the Broker churning his account. Bona fide day trading requires an account set up and marked as such, and has different margin management requirements. This Plaintiff has never operated a Day Trading account. What Judge Lee did is look for reasons to hate Glaser and dismiss the case. Meanwhile, unknown to Plaintiff Glaser, Judge Lee had 100% of his IRA retirement invested in Fidelity Small Cap Aggressive Growth, which in turn, had owned ENZO stock and sold out to the last share. ENZO announced it was opening clinics to treat AIDS, the insiders sold illegally, never reported it, Fidelity sold out to the last share, somehow knowing the press releases were never going to happen AND the insiders were so desperate to take advantage of the high stock price, they would sell and conceal the sales. Fidelity sold out and Judge Lee retired on illegally obtained gains. Had Judge Lee sustained the case, there was a risk he would lose his entire retirement principle and gains. Like a Madoff victim I only learned of this direct Financial Conflict thanks to Judicial Watch. They keep records. I tried to tell the Department of Justice about this. They threatened me. I asked recently for the Judge who replaced Judge Lee to make ALL documents public. Judge Alston put in his order and opinion, Glaser is to be punished. So the documents that ALL INVESTORS NEED TO SEE TO LEARN ABOUT THE ILLEGAL SALES AND THE COVER UP will remain sealed and hidden. And this is Federal Judicially sponsored? We are worse off than 1929. Oxley Sarbanes Certification is fake, DTCC who is supposed to pair stock to look for insider transactions missed 600,000 shares sold by 3 different people. American Stock Transfer allowed the sales, as the transfer agent. Morgan Stanley Dean Witter in Boston, happily helped with the sales. Where was MSDW compliance? Wearing blinders. If you understand trading,. Morgan Stanley Dean Witter had opportunity, motive and access to then short sell and buy puts in their "Centralized Risk Management" system,, performing what is referred to in slang as a "bear raid". MSDW was my brokerage. MSDW never warned me the insiders sold, the books were cooked, the Oxley Sarbanes Certs were false, MSDW received a Private Placement Memorandum that clearly stated the company would not be opening clinics to treat anything for years to come. UBS Warbug wrote both a research report and a Private Placement Memorandum. The Research Report was released with a strong buy and price target of 111. The PPM stated to those who understood the company, it was worthless. The stock price gyrated from 139 3/4 to a dollar and change over an 18 month period. A 99% loss, essentially. Biggest loser in NYSE history. Of note, the sales, which were never reported, translate to the company never meeting the NYSE listing requirements. The Oxley Certs are knowingly false. Ernst and Young, the Auditor, was caught by the SEC and US Attorney destroying documents and falsifying audits right in the same period. This discovery by the SEC and US Attorney was brought forward in 2019, indicating a decades long cover up by Ernst and Young. E & Y was ENZO's Auditor at that time. I have spoken to countless Lawyers and the SEC, the FBI and the DOJ as well as FINRA and the PCAOB. No one cares. Their opinion is its just too old. On the contrary, Embezzling money from the Public has no Tolling, no Statute of Limitations. Rule 60 (D) in Fed Civ does not allow one to lie or conceal, and get away with it. Telling the Courts there were no sales, when there were in fact sales, is Fraud on the Court and Perjury, due to telling the District Court in NY, the Virginia Court knew of the sales, when the Virginia Court only knew the Plaintiff had Plead there were sales, and the Defendant DECLARED (Attested under Penalty of Perjury) that there WERE NO SALES. Also, the SEC rules say, when insiders sell and do not disclose it, all investors have a right to sell their stock and options of that period (holdings) at the then prevailing prices. There is no tolling or statute of limitations for an insider sale that is concealed forever. Like robbing a bank and burying the money. When the PUIBLIC's MONEY is discovered, PUBLIC POLICY MANDATES the return of that money to the rightful owners. Then there is another problem. If you are sold stock in a company that in truth, does not even exist at all, and its NYSE listed, you have a right to demand the trades to be *busted* and your principle returned. The EXCHANGE has to take responsibility for listing that company and destroying your life and finances. Similarly, false financial statements, undisclosed sales, false Oxley Sarbanes Certifications (Oxley was made retroactive by Congress to include all of 2000, when these sales took place) translates to bustable trades. The NYSE was negligent in allowing a company on its exchange where the insiders were there to just sell stock and not report it. This is why Public Companies have Directors and Officer's insurance, and the Auditor also has insurance. Investors in ENZO Biochem, of the period of the first quarter of 2000 and possibly other quarters, have a claim to bust their trades and get back the principle,, interest, penalties and attorney fees. Cash flow in and out of the stock and options, plus interest, makes this a number in the 5-10 billion range. This is the rise in ,market cap, the fall, and the flow of monies in and out. The biggest heist in NYSE history perhaps second only to Bernie Madoff. Then there is related party transactions timed to these never reported sales. Ill happily share that FACTUAL DATA with responsible authorities and Counsel, should they want to know. Blood relatives and ;posing shareholder relations staff traded on the inside information. These transactions require Form 4.
I also wanted to add, my case, 01242, went on a first appeal, which we won. Then a second appeal was made necessary because the District Court allowed a second motion to dismiss. Never did the Judge realize, if these insiders sold stock, all shareholders have a claim and it does not tie to or matter, what the company said or did not say. Its in the 1933 1934 Exchange Act. The Judge assigned to my case had no Securities experience previously. Even if he erred, it matters not. The fact remains. All shareholders HAVE A CLAIM IN PERPETUITY. Public Policy demands Embezzled/stolen monies MUST BE RETURNED. Plain and simple.
Judges Comments
Judge bought off on the idea that a shareholder in a public company, having sold stock purchased the day before, is instantly and automatically a day trader and made this determination without due process. That was a direct violation of my due process rights. Discovery was never completed in this case, 01242. It was stayed by letter agreement between Glaser's Counsel and ENZO's Counsel. In 06 civ 00170 sd ny sas document 116, the same Law Firm plays on the fact that Michael Rovell has passed away and Declares to the District Court in the Southern District of NY, that the Virginia Plaintiff Glaser had 2 Discoveries. The same document says the first discovery , taken in Bankruptcy, was illegal Defendant was asked did they sell the 600,000 shares in question They indicated they did not sell them, only transferred the shares That was a lie. The appearance now is, they could like because they believed the discovery process in a Chapter 11 was illegal. But they never quashed anything, struck anything or appealed a failure to quash or strike. Hence, the assertion that chapter 11 discovery is illegal was advanced to the District Court in NY, as a lie. In open court, again in NY, in the above named case, the Judge in open court made it quite clear, she would dismiss (Judge Shira Scheindlein) if in fact the Virginia Court, earlier in the time line, *knew* the stock in question, in truth, had actually been sold. Defendant and their Counsel lied two times, telling Judge Shira Scheindlein, the Virginia Court knew of the sales. In Virginia, in case 1:02 cv 01242 GBL ED VA, all of Defendant's Pleadings, Oral Argument and Declarations attested that they sold no stock. NEVER was the Virginia Court on notice, with a live case, that the Pleadings of the Plaintiff,, the insiders sold stock, was in fact TRUE. Never.