Potential Rule 421 violations
In one line: the SEC requires a company to write its filings so an investor can read them — Rule 421, 17 CFR 230.421 — and these companies filed documents that grade F or below against it.
The rule says a prospectus must be clear, concise and understandable, and that the cover page, the summary and the risk factors must be in plain English: short sentences, everyday words, no legal jargon. Every filing on the wire is marked against that rule, A to F, with one grade below F for a document that cannot be read at all. Below the list is a letter to the SEC you can draw up for any company on it, print, and send under your own name.
A grade is a measurement against the standard, never a finding that a rule was broken. The rule binds the cover, the summary and the risk factors of a prospectus hardest; the mechanics of a warrant sit in the body, where 421(a) and (b) apply and (d) does not. The method — every threshold and every weight — is published, so a company that disputes a grade can reproduce it.
Why it is here. A holder cannot act on a filing he cannot read. The rule exists so that he can, and a filing that fails it is worth reading twice — nothing here says any company or any person did anything wrong.
Write to the SEC about one of these companies
Pick the company. Put in your name and address. The letter is drawn for that company — its filing, the date, the grade, the rule — and you print it and mail it. Send it by certified mail, so there is a record it arrived. It is your letter: read it before you sign it, and change anything you do not agree with.