This blog post is intended to remind investors, employees, and market regulators of a primary grievance against Michael Arlen Davis , and a primary reason why the "Seeking Justice for Cyanotech Shareholders" blog exists.
Michael Arlen Davis (Davis), the chairman and largest shareholder of publicly traded Cyanotech Corporation (Nasdaq: Cyan), appears to have systematically violated Federal securities laws by "parking" shares of Cyan common stock with second largest shareholder Rudolph Steiner Foundation (RSF) since 2010-2011.
Every single share of Cyanotech stock reported as held by RSF was paid for and placed into RSF's hands by Michael
most famous example of enforcement of Federal securities laws against
-"Parking"- came in the case of Ivan Boesky.
Ivan Boesky went to Jail when he was caught "Parking" securities.
familiar with the case said yesterday that the investigation was tied
to a case last year in which Michael Davidoff, former head trader at
Seemala, pleaded guilty to securities fraud. In his plea, Mr. Davidoff
said he had reached a ''secret agreement'' with officials at Seligmann
Harris to ''park'' stocks. Stock parking involves secretly transferring
securities to another entity to evade restrictions on holdings." New York Times, 1998
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Tuesday, September 26, 2017
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