Month: December 2018

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Fined: NTB Financial Corporation Fined by FINRA

Fined

NTB Financial Corporation Fined by FINRA

10 December 2018

A Letter of Acceptance, Waiver and Consent (AWC) was issued in which the firm was censured and fined $45,000. Prior to the issuance of this AWC, the firm voluntarily paid customers restitution for the subject transactions in the total amount of $43,142.06. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it charged its customers prices that were not fair in principal transactions involving a single corporate bond. The findings stated that the transactions and mark-ups charged were not fair when considering the relevant factors that should be taken into consideration when determining the fairness of markups charged to a firm’s customers. As a result, the firm charged its customers $43,142.06 in excessive mark-ups on these corporate bond transactions.

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Article: Soros family office fined for naked short selling

Article - Media

Soros family office fined for naked short selling

Bloomberg via India Times, 7 December 2018

Hong Kong: Soros Fund Management, the about $25 billion family office of billionaire George Soros, was fined by Hong Kong’s securities regulator for naked short selling. The company’s Hong Kong unit was reprimanded and fined HK$1.5 million ($192,000) for a 2015 trade involving a bonus share issue of Great Wall Motor, the city’s Securities and Futures Commission said in a statementon Thursday.

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Article: More smoking guns will be revealed about Aphria, says short-seller

Article - Media, Publications

More smoking guns will be revealed about Aphria, says short-seller

Jayson MacLean, 06 December 2018

Recently emerged fraud allegations concerning marijuana company Aphria Inc (Aphria Stock Quote, Chart TSX, NYSE: APHA) may have already trashed the stock, but the worst could still be forthcoming, says short-seller Gabriel Grego, who claims there’s likely a lot more damning evidence to be revealed in the company’s documents.

A report released on Monday and co-authored by Hindenburg Research and Grego’s Quintessential Capital Management alleges that Aphria paid “vastly inflated” prices for essentially worthless assets in Latin America, in particular the $193-million purchase of LATAM Holdings, a subsidiary of Scythian Biosciences which has assets in Jamaica, Colombia and Argentina.
Continue reading “Article: More smoking guns will be revealed about Aphria, says short-seller”

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Article: Aphria fallout: 5 takeaways on the report that sent this cannabis stock plunging

Article - Media, Publications

Aphria fallout: 5 takeaways on the report that sent this cannabis stock plunging

Lisa Bernard-Kuhn and Matt Lamers, 06 December 2018

The blows to Aphria’s stock continued Wednesday as the Canadian cannabis giant’s share price tumbled in the wake of a scathing short-seller report. Aphria’s stock (Nasdaq: APHA) closed Wednesday at $4.51 – down more than 25% for the day. The company has been on the defensive since Monday, refuting claims lobbed by short sellers Quintessential Capital Management and Hindenburg Research that Aphria’s management is a part of a shell game controlled by insiders raiding company coffers to line their own pockets. Aphria, in a statement issued Monday, called the allegations “malicious.”
Continue reading “Article: Aphria fallout: 5 takeaways on the report that sent this cannabis stock plunging”

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Article: The marijuana producer Aphria is crashing after short seller alleges it’s a ‘shell game with a cannabis business on the side’ (APHA)

Article - Media, Publications

The marijuana producer Aphria is crashing after short seller alleges it’s a ‘shell game with a cannabis business on the side’ (APHA)

Ethel Jiang, 03 December 2018

The marijuana producer Aphria slumped as much as 30% — to a low of $5.60 a share — after a firm alleged the company’s business was full of overvalued buyouts and fraudulent financial reporting.
“Aphria is part of a scheme orchestrated by a network of insiders to divert funds away from shareholders into their own pockets,” short seller Quintessential Capital Management’s Hindenburg Research said Monday morning in a report titled “Aphria: a shell game with a cannabis business on the side.”
Continue reading “Article: The marijuana producer Aphria is crashing after short seller alleges it’s a ‘shell game with a cannabis business on the side’ (APHA)”

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Article: HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages ACM Research (ACMR) Investors with Losses to Contact Its Attorneys, Securities Fraud Case Filed

Article - Media, Publications

The marijuana producer Aphria is crashing after short seller alleges it’s a ‘shell game with a cannabis business on the side’ (APHA)

Ethel Jiang, 03 December 2018

The marijuana producer Aphria slumped as much as 30% — to a low of $5.60 a share — after a firm alleged the company’s business was full of overvalued buyouts and fraudulent financial reporting. “Aphria is part of a scheme orchestrated by a network of insiders to divert funds away from shareholders into their own pockets,” short seller Quintessential Capital Management’s Hindenburg Research said Monday morning in a report titled “Aphria: a shell game with a cannabis business on the side.” Aphria responded Monday afternoon in a press release, referring Hindenburg Research’s report as “a malicious and self-serving attempt to profit by manipulating Aphria’s stock price at the expense of Aphria’s shareholders.”
Continue reading “Article: HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages ACM Research (ACMR) Investors with Losses to Contact Its Attorneys, Securities Fraud Case Filed”

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