CEO Mocks Steve Cohen In Bizarre Full-Page Wall Street Journal Ad
Quartz, 28 July 2013
The background is that Patrick Byrne, chief executive of Overstock.com, is among the most vocal critics of naked short selling, which some investors, including SAC Capital founder Steve Cohen, use to drive down the stock price of companies that they’ve bet against. Byrne once famously called Cohen a “Sith Lord,” referencing a Star Wars villain, for engaging in naked short sales of Overstock.com. Deep Capture, the website referenced in today’s ad, is funded by Byrne.
Cohen is facing civil charges related to insider trading at his firm. SAC itself was indicted on Thursday. Now comes the schadenfreude from Cohen’s enemies.
