US: ChampionLyte demands Berlin delisting
ChampionLyte Holdings, Inc. today announced that to protect is shareholders, it has sent a demand letter to the Berlin Stock Exchange demanding immediate delisting. The company said its stock was listed on the Exchange without any prior knowledge, consent or authorisation.
The listings, which include more than 200 US publicly traded companies, appear to be part of an organised effort by domestic and foreign brokers to circumvent the recent National Association of Securities Dealers (NASD) and Securities Exchange Commission (SEC) restrictions against "naked short selling."
"As soon as we learned of this fraudulent listing, we notified our SEC counsel to proceed with whatever steps are necessary to delist our stock from the Berlin Exchange," said David Goldberg, president of ChampionLyte Holdings, Inc. "This is an egregious act against our company and its shareholders which we will not tolerate."
Sectors: Soft drinks
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