Friday, March 26, 2010

"InterOil Won't Comment to NYSE On Today's Unusual Market Activity" (IOC)

UPDATE: From NYSE Euronext:
InterOil Corporation (NYSE: IOC), states that its policy is not to comment on unusual market activity or rumors

In view of the unusual market activity in the stock of InterOil Corporation (NYSE: IOC), the NYSE has contacted the company in accordance with its usual practice; the company stated that its policy is not to comment on unusual market activity or rumors.


Original post:
The blurb isn't crystal clear whether IOC stated their policy to the reporter or the NYSE.
If the latter, oops.
From StreetInsider:
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