Joseph Calata Willing to Cooperate
It is not old news to hear about certain scandals involving celebrities and known businessmen, and other famous icons for that matter. However, the rumors are not the ones which jeopardize a reputation, but the people who believe and scatter them. It’s inevitable that most celebrities, if not all, would suffer from rumors that threaten to ruin their reputation.
Joseph Calata, the 31-year-old CEO of Calata corporation, is currently suffering from rumors that his company is under investigation. Calata Corporation recently reached a market cap of 4B Pesos as diepo hack the stock share of the corporation soared to P24 per share. At some point, however, the shares fell almost 26 percent, which was why questions from regulators came. What came to the surface was accusations that some investors might have manipulated nba live mobile hack android the prices which led to the rollercoaster ride of the shares.
However, the board of the corporation claimed that they are not the ones that are under investigation but the shares and shareholders. The corporation’s CEO stated that what happens within the buying and selling in the trades by other shareholders is already beyond his control and if the company itself was under investigation, they would have been notified. It was even their young CEO who called the Philippine Stock exchange to look into their stocks, according to Calata Corporation News. They share this website also claimed that Capital Markets Integrity Corp is for brokers and traders, which is what they are investigating, not the corporation itself.
Ben Evardone, Eastern Samar Representative, was the one who made the appeal about the surprising movements in the shares of the company, which the Securities and Exchange Commission answered at once. Price manipulation involves the interference with the free and fair operation of the market by the parties involved. Some businessmen do this by using dummy accounts to make it seem like there are a lot of traders. The share this website back and forth movements of the shares of Calata in a span of days led to the accusation of stock manipulation of the company.
When the probe exploded, Calata didn’t shy out which proved that his hands are clean. With the said manipulation, Calata admits that it affected some of the plans he had made for the company. This led to curiosity by the board of the corporation which is why they wanted to know what’s happening as well. On Calata Corporation news, they claimed that they are more than willing to cooperate with the investigation.
In the corporation’s defense, its CEO claimed that they would have been notified if there was an undergoing investigation, but that was not the case. Joseph Calata also said in an interview with ANC that he hopes the people would understand that the ones being investigated are the trades and the traders of his corporation. Anyone who’s involved in rumors that threaten to ruin his reputation would, of course, want to solve and stop it. Calata himself wants the unfair trades to stop which is why he is open to an investigation if ever it is needed.