UPDATE: From NYSE Euronext:
InterOil Corporation (NYSE: IOC), states that its policy is not to comment on unusual market activity or rumors
The blurb isn't crystal clear whether IOC stated their policy to the reporter or the NYSE.
If the latter, oops.
When contacted by the NYSE in view of the unusual market activity in the stock, InterOil Corporation (NYSE: IOC) stated that its policy is not to comment on unusual market activity or rumors.
Shares of IOC fell 12.5% today after a report highlighted a lawsuit against the company's CEO Phil Mulacek filed by original investors, seeking up to $1.3 billion in damages. The report claims that the lawsuit worried Mulacek so much that a company he controls filed a bad-faith bankruptcy in an attempt to derail the litigation
. We first noted the report this morning here