Category: Article – Media

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Article: MyPillow CEO Hit With $1.3B Suit Over Election Fraud ‘Big Lie’

Article - Media, Publications

MyPillow CEO Hit With $1.3B Suit Over Election Fraud ‘Big Lie’

Dorothy Atkins, 23 February 2021

Dominion Voting Systems hit MyPillow Inc. and its CEO Mike Lindell with a $1.3 billion defamation suit in D.C. federal court Monday, accusing Lindell of knowingly perpetuating a “big lie” by falsely claiming that the voting-machine maker rigged the 2020 presidential election for Joe Biden.

In a two-count, 115-page complaint, Dominion alleged that Lindell has intentionally marketed his pillows to supporters of former President Donald Trump while publicly accusing the Denver-based Dominion of rigging the election in favor of Biden in order to beef up his pillow company’s sales. Continue reading “Article: MyPillow CEO Hit With $1.3B Suit Over Election Fraud ‘Big Lie’”

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Article: Accountant Ducks Prison For $17M Stock Scheme, Tax Fraud

Article - Media, Publications

Accountant Ducks Prison For $17M Stock Scheme, Tax Fraud

Bill Wichert, 23 February 2021

An accountant avoided a prison sentence Tuesday for his roles in a stock market manipulation scheme that reaped more than $17 million in illicit profits and a related tax fraud scheme, with a New Jersey federal judge citing his extensive cooperation with prosecutors against the securities trader who orchestrated the crimes.

About two months after handing out an 18-month prison term to that mastermind, U.S. District Judge John Michael Vazquez sentenced the 43-year-old Shaun Greenwald to three years of probation, including eight months of home detention with location monitoring, following his 2018 guilty plea to conspiracy charges. Continue reading “Article: Accountant Ducks Prison For $17M Stock Scheme, Tax Fraud”

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Article: Bitfinex, Tether owner pays $18.5 million fine to settle NYAG cryptocurrency cover-up charges

Article - Media, Publications

Bitfinex, Tether owner pays $18.5 million fine to settle NYAG cryptocurrency cover-up charges

Jonathan Stempel, 23 February 2021

NEW YORK (Reuters) – The owner of the Tether cryptocurrency and Bitfinex trading platform will pay an $18.5 million fine to settle charges it commingled client and corporate funds to cover up $850 million that went missing, New York Attorney General Letitia James said on Tuesday.

James said the civil settlement with Hong Kong-based iFinex Inc and related entities will also require them to halt trading activity with New Yorkers.

Bitfinex was accused of having sent the $850 million to Crypto Capital Corp, a payment processor believed to be in Panama, without telling clients, and after the funds went missing, draining at least $700 million from Tether’s reserves. Continue reading “Article: Bitfinex, Tether owner pays $18.5 million fine to settle NYAG cryptocurrency cover-up charges”

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Article: iBio Inc, IBIO Securities Lawsuit

Article - Media, Publications

iBio Inc, IBIO Securities Lawsuit

Lucy Campbell, 16 December 2014

Los Angeles, CA: A securities class action lawsuit has been commenced in the United States District Court for the District of Delaware on behalf of investors who purchased iBio, Inc. (“iBio” or the “Company”) (NYSE MKT:IBIO) securities between October 13, 2014 and October 23, 2014.

The Complaint alleges that during the Class Period, the Company issued materially false and misleading statements to investors by wrongfully suggesting that the Company’s Launch platform patents and related proprietary technology would be licensed by the makers of the experimental Ebola drug, ZMapp. The Complaint alleges that when the true facts were revealed, the price of the Company’s stock fell significantly, damaging investors.
Continue reading “Article: iBio Inc, IBIO Securities Lawsuit”

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Article: Investors Should Pass on Hyliion Holdings

Article - Media, Publications

Investors Should Pass on Hyliion Holdings

Joel Baglole, 07 December 2020

After rising from $10 a share in June to a peak of $58.66 in September (a gain of 487%), Hyliion stock has fallen to $18.04 a share. And the decline looks persistent. Since Nov. 27, the stock dropped 33%. Investors who hold a stake in Hyliion may want to sell now and cut their losses before things get any worse. The company, which designs, develops, and sells electrified powertrain solutions for commercial vehicles, looks to have lost its luster and any momentum the stock seems to have evaporated, leaving its share price deflated.
Continue reading “Article: Investors Should Pass on Hyliion Holdings”

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Article: Barclays Escapes UK Municipalities’ Libor Loan Suits

Article - Media, Publications

Barclays Escapes UK Municipalities’ Libor Loan Suits

Joanne Faulkner, 22 February 2021

A judge said on Monday that eight local councils in England cannot get out of Libor-linked loans they signed with Barclays before the bank’s involvement in the rate-rigging scandal was revealed because they could not prove the lender had acted dishonestly. 

High Court Judge Sara Cockerill said that two claims focusing on how interest rates tied to the loans were influenced by the London Interbank Offered Rate had “no real prospect of success.” The local authorities could not prove that Barclays had knowingly made false representations when it sold the swaps between 2006 and 2008, the judge said. Continue reading “Article: Barclays Escapes UK Municipalities’ Libor Loan Suits”

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ARTICLE: BREAKING THE SILVER MARKET: Investment Demand To Overwhelm The Market

Article - Media, Publications

BREAKING THE SILVER MARKET: Investment Demand To Overwhelm The Market

SRSROCCO, 28 February 2021

The Silver Market is on the verge of being overwhelmed by investment demand.  While this has been a steady process over the past decade, the situation changed rapidly in 2020, and especially in the last two months.  Since the WallStreetBets “SilverSqueeze” campaign, more investors are waking up to the SILVER STORY…

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Article: Meet Patrick Byrne: Bitcoin Messiah, CEO of Overstock, Scourge of Wall Street

Article - Media, Publications, Uncategorized

Meet Patrick Byrne: Bitcoin Messiah, CEO of Overstock, Scourge of Wall Street

Cade Metz, WIRED, 18 February 2021

The problem with the modern economy, Byrne says, is that it rests on the whims of our government and our big banks, that each has the power to create money that’s backed by nothing but themselves. Thanks to what’s called fractional reserve banking, a bank can take in $10 in deposits, but then loan out $100. The government can make more dollars at any time, instantly reducing the currency’s value. Eventually, he says, laying down a classic libertarian metaphor, this “magic money tree” will come crashing down.

Continue reading “Article: Meet Patrick Byrne: Bitcoin Messiah, CEO of Overstock, Scourge of Wall Street”

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Article: BlackRock puts muscle behind push for net zero

Article - Media, Publications

BlackRock puts muscle behind push for net zero

Avery Ellfeldt, 19 February 2021

Wealth leviathan BlackRock Inc. gave teeth to its climate commitments this week when it pledged to leverage its shareholder power to punish companies that fail to take climate change seriously. That promise sends a message to the heaviest greenhouse gas emitters: Set targets to cut carbon or risk retribution from the world’s largest asset manager. Continue reading “Article: BlackRock puts muscle behind push for net zero”

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Article: Hedge fund manager Plotkin’s GameStop short, dissected

Article - Media, Publications

Hedge fund manager Plotkin’s GameStop short, dissected

Hedge fund manager Gabriel Plotkin first bet against the future of GameStop Corp in 2014 when it traded around US$40. But after a harrowing experience with short sellers in recent weeks, he’s wary about holding big short positions again.

BOSTON: Hedge fund manager Gabriel Plotkin first bet against the future of GameStop Corp in 2014 when it traded around US$40. But after a harrowing experience with short sellers in recent weeks, he’s wary about holding big short positions again.

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Article: U.S. securities regulator suspends trading in three more ‘meme stocks’

Article - Media, Publications

U.S. securities regulator suspends trading in three more ‘meme stocks’

Chris Prentice, 19 February 2021

WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission on Friday suspended trading in more securities that have seen jumps in both prices and trading volumes since late January amid social media interest.

The SEC temporarily suspended trading of Marathon Group Corp, Affinity Beverage Group Inc, and Sylios Corp beginning on Friday and ending on March 4, the SEC said in statements published on its website. Continue reading “Article: U.S. securities regulator suspends trading in three more ‘meme stocks’”

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Article: 180 Life Sciences Corp. Announces $11.7 Million Private Placement

Article - Media, Publications

180 Life Sciences Corp. Announces $11.7 Million Private Placement

GLOBE NEWSWIRE, 19 February 2021

180 Life Sciences Corp. (NASDAQ: ATNF) (180 Life Sciences or the “Company”), a clinical-stage biotechnology company with its lead indication in Phase 2b/3, focused on the development of novel drugs that fulfill unmet needs in inflammatory diseases, fibrosis and pain, today announced that it has entered into securities purchase agreements with certain institutional investors to raise approximately $11.7 million through the private placement of 2,564,000 shares of its common stock and accompanying warrants to purchase an aggregate of up to 2,564,000 shares of common stock at a combined purchase price of $4.55 per share and accompanying warrant. The warrants will be exercisable immediately at an exercise price of $5.00 per share and will expire five years from the date of issuance. The closing of the private placement is expected to occur on February 23, 2021, subject to the satisfaction of certain customary closing conditions set forth in the securities purchase agreements.

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Article: How were more than 100% of GameStop’s shares shorted?

Article - Media

How were more than 100% of GameStop’s shares shorted?

John McCrank, Reuters, 18 February 2021

But Vlad Tenev, broker Robinhood’s chief executive officer, recently pointed out that some of the stocks involved in the “meme stock” rally were more than 100% shorted, implying that more shares were shorted than were available to trade.

“I just think that’s pathological,” he said on the All-In Podcast late last Friday. “You end up with this situation that could destabilize the financial markets.”

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Article: Short Sellers Still Targeting Retail, Biotech ETFs

Article - Media, Publications

Short Sellers Still Targeting Retail, Biotech ETFs

Wayne Duggan, 18 February 2021

After a huge second half of 2020, the S&P 500 is off to another hot start to 2021. With stock market valuations getting more bloated by the week, there are plenty of skeptics that believe certain stocks and sectors have come too far too fast.

There is currently $244 billion in aggregate domestic ETF short interest, according to S3 Partners analyst Ihor Dusaniwsky. Over the past month, Dusaniwsky said short sellers have increased their exposure by about $14 billion. Continue reading “Article: Short Sellers Still Targeting Retail, Biotech ETFs”

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Article: Trading hot stocks like GameStop seems fun until you look beneath the surface

Article - Media

Trading hot stocks like GameStop seems fun until you look beneath the surface

Congress is asking questions about whether middlemen or “market makers” like Citadel that execute stock trades really give small investors the best prices.

Gretchen Morgenson, ABCNews, 18 February 2021

Market makers like Citadel make money by pocketing the difference between the price at which they buy shares — the bid — and the price they receive from selling them to Robinhood clients, the offer. Other firms in the business are Virtu Americas, G1X Execution Services and Two Sigma Securities.

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THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?