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16 days agoI tried researching this a bit, and from what I understand, the company basically has no money, which in turn makes the stock worthless. So since the stock is effectively $0.00 per share, they can just “cancel” the stock completely.
This could be oversimplified or dead wrong, but I don’t understand any other way this could work legally.
Would something like this hold up in court, I wonder? Could a prosecutor argue that “the algorithm said so” is enough probable cause?