Mirror: Marc Cohodes: Short Call On Concordia International
UncategorizedArticle: MARC COHODES – INTERTAIN GROUP LTD: A HOUSE OF CARDS
UncategorizedMARC COHODES – INTERTAIN GROUP LTD: A HOUSE OF CARDS
ValueWalk, 18 October 2016
In early 2014, Intertain was created with assets from Amaya Inc., with Amaya becoming Intertain’s largest shareholder David Baazov – Amaya’s CEO – has been charged with insider trading by the Quebec AMF
AMP claims that Baazov was part of a network of insiders who used secret codes to conceal trades about companies planning to merge or acquire other companies. John Fitzgerald (also known as “Fitzy”) was named CEO of Intertain. Fitzy has allegedly been involved with penny stock promoters and has previously been named as a defendant in shareholder lawsuits.
Keith Laslop was named CFO of Intertain Laslop has links to Gerova Financial Group, whose top officers (John Galanis et al) were by the SEC for fraud. Laslop himself was named in multiple lawsuit arising out of the Gerova fraud allegations. Intertain’s roll up strategy. In early 2015, Intertain acquired Jackpotjoy and other companies for £4258 million plus earn-outs if and when Jackpotjoy meets earnings benchmarks
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Mirror: Marc Cohodes at the Grant’s Fall 2016 Conference
Article: High Court To Hear Merrill Lynch Naked Short Selling Suit
UncategorizedHigh Court To Hear Merrill Lynch Naked Short Selling Suit
Law360, 30 June 2015
In a short order, the high court granted the banks’ petition for a writ of certiorari, which was filed over a Third Circuit decision to remand the shareholder suit to state court. The justices also granted the Securities Industry and Financial Markets Association leave to file an amicus brief in the matter.
Article: Merrill Lynch Fined for Supervisory Failures Leading to Ponzo Scheme
UncategorizedMerrill Lynch Fined for Supervisory Failures Leading to Ponzo Scheme
Nicholas Guiliano
Securities Arbitration Attorneys, 20 June 2015
Bank of America subsidiary Merrill Lynch, Pierce, Fenner & Smith Inc. has been fined $1 million by the Financial Industry Regulatory Authority, or FINRA, for failure to supervise one of its stockbrokers at its branch office in San Antonio, Texas. FINRA announced the fine on Oct. 4.
Bruce Edward Hammonds, a registered representative with the firm, used a Merrill Lynch account to operate a Ponzi scheme, luring 11 people to invest more than $1 million in B&J Partnership, an entity he ran for over 10 months, according to information released by FINRA. Hammonds request to open a business account for B&J was approved by Merrill Lynch supervisors, who subsequently failed to monitor the funds that the investors deposited and Hammonds withdrew. He was fired by Merrill Lynch in June 2008.
Article: Naked [Short Selling] Horror
UncategorizedLiz Moyer
Forbes, 25 August 2006
Suspicious trading last year in shares of Global Links, a small Nevada real estate holding company, was far more intense than previously thought.
Data released to Patch earlier this month had shown trade fails of 10 million shares starting in mid-April, a time when 4 million shares of Global Links were issued and outstanding.
Article: ‘Naked’ short selling is center of looming legal battle
Uncategorized‘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: Naked shorting: Stung by the German connection
UncategorizedNaked shorting: Stung by the German connection
Peter Koh
EuroMoney, 27 March 2005
Thousands of US stocks are being traded on a little-known Berlin exchange, without the knowledge of many of the companies involved. Have the naked short sellers exported their practice overseas?
