Article: Deutsche Bank Settles Fraud Case

Article - Media

Deutsche Bank Settles Fraud Case

Sheryl Jean

St. Paul Pioneer Press, 29 June 2006

Deutsche Bank has settled a lawsuit filed against it by Stockwalk Group to recover losses incurred as part of a massive securities fraud allegedly orchestrated by the German financial giant, a fugitive Saudi arms dealer and other individuals that bankrupted the Minneapolis-based securities firm.

Terms of the settlement, reached last week, are confidential. Local industry insiders estimated the settlement was for tens of millions of dollars.

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Article: Hedge Hogs

Article - Media

Hedge Hogs

Liz Moyer

Forbes, 28 June 2006

So who should be overseeing the $1.2 trillion hedge fund industry? Apparently no one is now. But the U.S. Senate Judiciary Committee has two ideas.

Either the nation needs new legislation to tackle allegations of widespread trading abuses by the hedge funds, or law enforcement officials should simply be encouraged to do the right thing with laws they already have at their disposal?

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Article: Investigator claims he was Fired for Hedge Fund Inquiry

Article - Media

Investigator claims he was Fired for Hedge Fund Inquiry

Andrew Clark

The Guardian cited by RGM Communications via Wayback, 24 June 2006

The low-profile, high-earning world of hedge funds suffered a jolt yesterday as allegations surfaced of political influence and insider dealing at one of America’s most prominent players, Pequot Capital Management.

A former investigator at the Securities and Exchange Commission has disclosed that the authority has been examining suspicious trades at Pequot – a Connecticut-based fund which has $7bn (£3.8bn) under management and operates from offices in both the US and Britain.

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Article: ‘Naked’ short selling is center of looming legal battle

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‘Naked’ short selling is center of looming legal battle

Companies on the defensive seize upon an aggressive form of shorting

Alistair Barr

MarketWatch, 14 June 2006

By one contentious estimate, it’s a big problem plaguing more than 10% of stocks on the New York Stock Exchange and Nasdaq. An NYSE probe into whether naked shorting was used to force down shares of Vonage Holdings Corp. VG, +3.53% lower during the Internet phone company’s May initial public offering has added fuel to the fire. See full story.

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Article: Overstock.com dukes it out with short sellers

Article - Media, Publications

Overstock.com dukes it out with short sellers

The Associated Press, 12 June 2006

Most people buy stock hoping the price goes up, but hedge fund manager David Rocker was “shorting” shares of Utah-based Internet retailer Overstock.com Inc., betting the share price would decline.

Rocker’s fund was making a legal bet that Overstock shares in 2004 were overvalued and due for a correction. Overstock.com CEO Patrick Byrne, however, sued, accusing New York-based Rocker Partners of collaborating on disparaging reports with the stock-research firm Gradient Analytics of Scottsdale, Ariz., while Rocker was shorting the shares. Continue reading “Article: Overstock.com dukes it out with short sellers”

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