If it can be proved that they are crashing the stock in order to short it. Or in order to send the company into bankruptcy or a position where it needs to unload all their real estate and the beneficiaries would be board members or people who are colluding with board members than it is securities exchange stuff.
Because the board has a fiduciary responsibility to maximize shareholder value. And if they intentionally violate that in order to personally profit while destroying the value of other shareholders, than that is manipulation and collusion.
Should be easy enough to prove with subpoenas of emails, interviews, board meeting, etc..
Now, would anyone have the actual balls to do it? Probably not because the SEC is totally staffed by aspiring hedge fund managers and people who are helping make Nancy Pelosi a billionaire.
But you never know it’s a New World in Washington and something like this that sends people to jail and ruins their company or hedge fund. Just might send a message.
Sirhr