Correction: The original version of this article -- published on Sept. 29 -- attributed a quote (found in paragraph 8) to the SEC. The quote was actually from the Blockbuster press release issued on Sept. 29. The updated version of this article clarifies this attribution. A quote appearing in paragraph 6 has been clarified to add attribution to the Blockbuster press release.
The shell of the movie rental chain, which was purchased out of bankruptcy by Dish Network (DISH) in April, plunged more than 40% this morning, following an investigation by the Securities and Exchange Commission.
The SEC temporarily suspended trading in Blockbuster OTC pink following a filing of a name change of the company to BB Liquidation, due to a "lack of current and accurate information concerning the company's securities due to assertions in third-party press releases to investors concerning, among other things, the company's current financial condition and business prospects."According to the SEC filing: "The Commission cautions brokers, dealers and prospective purchasers that they should carefully consider the foregoing information along with all currently available information and any information subsequently issued by the company." As a result of Dish Network's acquisition of Blockbuster, there are no further operations or assets to liquidate. "None of the publicly owned stocks issued by Parent
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