Category: Publications

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Article: Court blasts short-seller for ‘false’ Rural Funds Group allegations

Article - Media

Court blasts short-seller for ‘false’ Rural Funds Group allegations

Colin Kruger

Sydney Morning Herald, 12 February 2020

Rural Funds Group achieved a comprehensive legal victory over Texas-based short-seller Bonitas Research on Wednesday, as the NSW Supreme Court found that allegations against the real estate investment trust were “false in material particulars or were materially misleading”.

Bonitas sent RFG’s share price plunging in August last year after it released a report alleging RFG’s accounts included fabricated rental income and claiming the trust was ultimately worthless.

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Article: SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of NexTech AR Solutions Corporation – (NEXCF)

Article - Media, Publications

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of NexTech AR Solutions Corporation – (NEXCF)

GLOBE NEWSWIRE, 11 February 2020

On February 10, 2020, Hindenburg Research published a report entitled “NexTech AR: Relentless Stock Promotion, Sketchy Related Party Transactions and a Vaporware Product—Price Target: $0,” alleging, among other things, that NexTech had “virtually no credible business prospects and appears to be focused almost entirely on promoting its stock and insider self-dealing.” On this news, NexTech’s stock price fell $0.36 per share, or 21.73%, to close at $1.29 per share on February 10, 2020.
Continue reading “Article: SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of NexTech AR Solutions Corporation – (NEXCF)”

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Paper: Market Manipulation and Directors Fiduciary Duty of Care

Paper

Market Manipulation and Directors Fiduciary Duty of Care

Market manipulation of emerging or small cap companies is pervaasive on Wall Street and according to the SEC has increased over 37% in the last decade. The nature and scope of market manipulation schemes is limited only by the creativity and audacity of their perpetrators.  While the substance and mechanics of market manipulation schemes may differ, the objective is the same – to inject false information into the marketplace that artificially affects the price of the  target companies securities by “interfering with the natural interplay of the forces of supply and demand.” The proliferation of market manipulation scshemes has created challenging risk-management and best practice issues for the directors of targeted companies, which require directors to continuously assess the nature and scope of their fiduciary duty of care.

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Article: Largest Silver Gold Manipulation Criminal Case Coming

Article - Media, Publications

Largest Silver Gold Manipulation Criminal Case Coming

James Anderson, 08 February 2020

This week we learned that U.S. authorities at the DoJ, who have for years not only accused various JPMorgan Chase & Co. employees of rigging precious-metals futures but also got many to plead guilty. The US Department of Justice (DoJ) is now, more importantly, building a criminal case against America’s biggest bank itself.

The previously unreported investigation of the global bank’s parent company, part of a wide-ranging attempt by the Federal government to maintain shreds of its former financial market credibility, raises the now new prospect of criminal charges against higher up executives within the United States’ largest bank.

And perhaps even larger implications are coming to this once considered too big to fail, therefore we must bail them out bank.

One which today in 2020, and seemingly year after year the Bank for International Settlements’ Financial Stability Board ascribes as being the #1 Global-Sytimatic Important Bank (G-SIB). In terser terms, JP Morgan’s stability is consistently ranked by the central bank of central banks, as being the largest threat to our global financial system functioning smoothly (new Bank Bail-In Laws on the books still).

Today we will dig into some details about this coming criminal case against JP Morgan Chase.

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Article: Inventiva completes a capital increase of €15 m subscribed by existing shareholders

Article - Media, Publications

Inventiva completes a capital increase of €15 m subscribed by existing shareholders

Yahoo Finance, 07 February 2020

Daix (France), February 7, 2020 – Inventiva (IVA.NX), a clinical-stage biopharmaceutical company developing oral small molecule therapies for the treatment of diseases in the areas of fibrosis, lysosomal storage disorders and oncology, today announced the successful completion of a capital increase of €15 million subscribed by some of its current key shareholders, BVF Partners L.P., NEA, Novo Holdings A/S and Sofinnova Partners. The capital increase was executed at the closing price of February 6, 2020 without discount.

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Article: H.C. Wainwright & Co. Once Again Ranked #1 by PlacementTracker

Article - Media

H.C. Wainwright & Co. Once Again Ranked #1 by PlacementTracker

BusinessWire, 6 February 2020

H.C. Wainwright & Co. announced its #1 Ranking by transaction volume during 2019 maintaining the top position for 19 consecutive quarters in PlacementTracker’s Market League Tables. As noted by PlacementTracker, H.C. Wainwright effectuated more than 3 times the number of transactions than any other firm in 2019.

In addition to being the #1 Investment Bank for Confidentially Marketed Public Offerings, Registered Direct and Private Placement transactions, H.C. Wainwright executed over 200 transactions in 2019 totaling over $7.6 Billion in transaction value. According to PlacementTracker, the H.C. Wainwright Team has been the #1 ranked Underwriter/Placement Agent by deal volume cumulatively since 1998.

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Comment: This company is alleged to be one of the top front-runners helping naked short sellers destroy promising companies.

Learn more: HCWainwright @ NSS

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Article: JPMorgan Facing Suit Over Spoofing Metals

Article - Media

JPMorgan Likely to Face Lawsuit for Precious Metal Spoofing

Zacks Equity Research, February 6, 2020

Per a Bloomberg’s article, JPMorgan Chase JPM is likely to face a criminal lawsuit over rigging precious-metals futures. The authorities that had previously accused six of the bank’s employees of the same misconduct are now planning to charge the company.

The Department of Justice and the Commodity Futures Trading Commission have been investigating the company’s precious metals desk’s trading practices for the past two years.

Continue reading “Article: JPMorgan Facing Suit Over Spoofing Metals”

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Article: China moves to limit short selling as virus looms over market reopening

Article - Media, Publications

China moves to limit short selling as virus looms over market reopening

Zhang Yan, Ryan Woo, 02 February 2020

China has taken steps to limit short-selling activities as the country’s financial markets prepare to reopen on Monday amid an outbreak of a new coronavirus, three sources with direct knowledge of the matter told Reuters.

The sources said China Securities Regulatory Commission (CSRC) had issued a verbal directive to brokerages including Citic Securities Co. and China International Capital Corp. to bar their clients from selling borrowed stocks on Feb. 3. It was not clear if the suspension — which was first reported on Sunday by Chinese media outlet 21st Century Business Herald — would be extended beyond Monday, one of the sources said. Continue reading “Article: China moves to limit short selling as virus looms over market reopening”

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Article: What We Talk About When We Talk About the Russian Mob

Article - Media, Publications

What We Talk About When We Talk About the Russian Mob

IN ROBERT MUELLER’S famed “Iron Triangles” speech, given to the Citizens Crime Commission of New York on 27 January 2011, the then-FBI Director explains how 21st century transnational organized crime works. (He also, improbably, cracks a joke about Justin Bieber’s haircut, the only sentence in the speech that feels dated).

The so-called “mob” is no longer run by a few families, Mueller says, but rather “flat, fluid networks with global reach,” comprised of groups in countries all around the world, which are “more anonymous and more sophisticated.”

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Article: Investors are asking the wrong questions about sustainability

Article - Media, Publications

Investors are asking the wrong questions about sustainability

Carol A Adams, 30 January 2020

When it comes to hitting the 2030 targets underpinning the UN’s 17 Sustainable Development Goals, considering risk alone will not cut it. Larry Fink’s recent emphasis on climate change risks and divesting in coal is significant, albeit a few decades late, but what about opportunities? And what about other sustainable development issues that threaten to bring businesses down? Continue reading “Article: Investors are asking the wrong questions about sustainability”

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Release: GRAND CANYON EDUCATION ALERT Bragar Eagel & Squire, P.C. is Investigating Grand Canyon Education, Inc. on Behalf of Stockholders and Encourages Investors to Contact the Firm

Release

GRAND CANYON EDUCATION ALERT Bragar Eagel & Squire, P.C. is Investigating Grand Canyon Education, Inc. on Behalf of Stockholders and Encourages Investors to Contact the Firm

28 January 2020

Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, is investigating potential claims against Grand Canyon Education, Inc. (NASDAQ:LOPE) on behalf of Grand Canyon Education stockholders. Our investigation concerns whether Grand Canyon Education has violated the federal securities laws and/or engaged in other unlawful business practices.

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Article: Hound of Hounslow: Who is Navinder Sarao, the ‘flash crash trader’?

Article - Media, Publications

Hound of Hounslow: Who is Navinder Sarao, the ‘flash crash trader’?

Andy Verity & Eleanor Lawrie, 28 January 2020

Former stock market trader Navinder Sarao has been sentenced to a year of home detention for helping trigger a brief $1tn (£770bn) stock market crash.

Dubbed the “Hound of Hounslow” in an ironic reference to the famous “Wolf of Wall Street” fraudster, the Briton was shown leniency by a Chicago judge due to the extraordinary circumstances of his case.

But who is he – and how did he help cause markets to plunge almost 4,000 miles away? Continue reading “Article: Hound of Hounslow: Who is Navinder Sarao, the ‘flash crash trader’?”

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Release: SHAREHOLDER ALERT Pawar Law Group Announces a Securities Class Action Lawsuit Against Portola Pharmaceuticals, Inc.– PTLA

Release

SHAREHOLDER ALERT: Pawar Law Group Announces a Securities Class Action Lawsuit Against Portola Pharmaceuticals, Inc.– PTLA

27 January 2020

Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Portola Pharmaceuticals, Inc. (PTLA) from November 5, 2019 through January 9, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Portola Pharmaceuticals, Inc. investors under the federal securities laws.

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Article: For traders who spoofed market years ago, a new ruling spells trouble

Article - Media

For traders who spoofed market years ago, a new ruling spells trouble

Bloomberg, 25 May 2020

US prosecutors are starting to build cases against traders suspected of manipulating markets as long as a decade ago, after an obscure legal ruling extended the statute of limitations for spoofing cases.

In October, the judge presiding over the impending trial of two former metals traders ruled that the US government can pursue charges of wire fraud as well as spoofing against the pair. The decision addressed a long-running legal debate about whether the placing of electronic market orders with the intention of cancelling them constituted a form of “false representation” and therefore fraud.

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THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?