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Article: Tilray hit by $300 million lawsuit over scheme to bankrupt acquisition target

Article - Media, Publications

Tilray hit by $300 million lawsuit over scheme to bankrupt acquisition target

Mark P, 11 December 2019

Cannabis stocks have had a history of being rife with scandals and potential wrongdoings. While it’s unfortunate that the industry has garnered such a reputation, for the most part, this perception has died down a bit in 2019. However, from time to time, a well-known cannabis company will be implicated in something illegal or against the law. That’s what happened today with Tilray (NASDAQ: TLRY), which was hit with a $300 million lawsuit from an acquisition target that claimed Tilray was trying to make them go bankrupt.

While it didn’t make headlines in the financial press, Bloomberg quietly mentioned that Tilray had been hit with a hefty lawsuit from a soap company called Trimax, which argued that the pot company had been trying to bankrupt one of its subsidiaries in order to make it easy to buy them out. Specifically, Trimax claims that Tilray wanted to buy its line of CBD products at a discount.gh cash that is inflated or compromised, and warranty and service costs are understated by at least $11 million.
Continue reading “Article: Tilray hit by $300 million lawsuit over scheme to bankrupt acquisition target”

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Fined: Aeon Capital Inc. Fined by FINRA

Fined

Aeon Capital Inc. Fined by FINRA

An AWC was issued in which the firm was censured, fined $45,000, of which $10,000 is joint and several with Bruno, required to retain one or more qualified independent consultants to conduct a comprehensive review of the adequacy of its compliance with FINRA Rule 3170 (the Taping Rule) and required to comply voluntarily with the Taping Rule for an additional 18 months. Bruno was fined $10,000, jointly and severally with the firm, and suspended from association with any FINRA member in any principal capacity for 30 business days.

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Article: Morgan Stanley Fined $22 Million for Rigging Bond Markets

Article - Media

Morgan Stanley Fined $22 Million for Rigging Bond Markets

Gaspard Sebag, Stephanie Bodoni

Bloomberg, 10 December 2019

Morgan Stanley was fined 20 million euros ($22.1 million) by French regulators after the bank’s London desk was accused of using “pump and dump” tactics to manipulate sovereign bond prices.

The Autorite des Marches Financier’s enforcement committee said that the bank manipulated the prices of 14 French government bonds and 8 Belgian bonds in June 2015. The lender also manipulated the price of a French government bond futures contract, the AMF said in a statement Tuesday.

Read full article.

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Article: One of Wall Street’s most notorious short-sellers says Peloton will plummet 86%, citing ‘intense’ competition (PTON)

Article - Media

One of Wall Street’s most notorious short-sellers says Peloton will plummet 86%, citing ‘intense’ competition (PTON)

Carmen Reinicke

MarketInsider, 10 December 2019

 

  • Citron Research, run by the famed short-seller Andrew Left, slapped Peloton with a $5 price target on Tuesday.
  • That would imply an 86% drop from Monday’s close of $34.77.
  • Citron argued that the losses would come amid “intense” competition that’s mounting.
  • Shares of Peloton fell as much as 9.1% on Tuesday.

Comment:  Yelling fire in a crowded theatre is a crime A short and distort SELL REPORT How about selling his sell tickets IS he still short? his target is $5 right I bet he covered 10 min after his report . Andrew Left should be under investigation. His recommendations should be compared to his positions.

 

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Article: Tilray Slapped With $150 Million Lawsuit Over Alleged Plot to Bankrupt Takeover Target

Article - Media, Publications

Tilray Slapped With $150 Million Lawsuit Over Alleged Plot to Bankrupt Takeover Target

RYAN T., 10 December 2019

Tilray (NASDAQ: TLRY) is facing some serious allegations after Law360 broke a story recently which details the $150 million lawsuit filed against the Canadian licensed producer (LP) in the state of Florida. According to the lawsuit, Tilray allegedly plotted to bankrupt the Trimax Corp. subsidiary Saavy Naturals for the purpose of acquiring it at a reduced valuation to complement its line of CBD infused personal care products. Saavy Naturals was made famous after it appeared on the ABC hit television show Shark Tank.

The complaint claims that Tilray ran an “outrageous” scam through its majority shareholder and private equity firm Privateer Holdings to convince the company’s owners to bankrupt their own company so Tilray could take them over cheaply. Trimax shareholder Joseph Vasquez III lays out the case in a complaint filed in Florida state court on December 2, 2019, which has since been removed to Florida federal court.
Continue reading “Article: Tilray Slapped With $150 Million Lawsuit Over Alleged Plot to Bankrupt Takeover Target”

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Article: Accounting Fraud & Freight Recession Topple Celadon, Largest Truckload-Carrier Bankruptcy in US History

Article - Media, Publications

Accounting Fraud & Freight Recession Topple Celadon, Largest Truckload-Carrier Bankruptcy in US History

Wolf Richter, 09 December 2019

Celadon Group, one of the larger full-truckload operators in the US with about 3,000 drivers and about 2,700 tractors, said today – confirming days of rumors – that it filed for Chapter 11 bankruptcy and is ceasing operations. This is the largest truckload carrier ever to file for bankruptcy in US history.

The drivers, hauling loads across the US, Canada, and Mexico were apparently among the last to be informed. According to Freight Waves, they received this message in the middle of the night on their telematics devices: Continue reading “Article: Accounting Fraud & Freight Recession Topple Celadon, Largest Truckload-Carrier Bankruptcy in US History”

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Article: Steve Cohen probably isn’t going to save the Mets

Article - Media, Publications

Steve Cohen probably isn’t going to save the Mets

Sheryl Ring, 07 December 2019

In November 2013, SAC Management Companies, a hedge fund operated by new Mets owner Steve Cohen, agreed to pay $1.8 billion – with a B – to resolve insider trading and money laundering charges. Continue reading “Article: Steve Cohen probably isn’t going to save the Mets”

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Fined: Nomura Securities International, Inc. Fined by FINRA

Fined

Nomura Securities International, Inc. Fined by FINRA

An AWC was issued in which the firm was censured and fined $300,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to comply with FINRA’s short interest reporting requirements concerning the reporting of certain foreign-listed securities. The findings stated that the firm experienced a system-related coding issue that resulted in the exclusion of certain foreign-listed securities from its short interest submissions to FINRA. In addition, the firm inaccurately reported short interest positions. Upon receiving notification from FINRA of the reporting deficiencies, the firm identified and corrected the coding issue.

Read full report.

 

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Fined: KGS-Alpha Capital Markets, L.P. nka BMO Capital Markets Corp. Fined by FINRA

Fined

KGS-Alpha Capital Markets, L.P. nka BMO Capital Markets Corp. Fined by FINRA

An AWC was issued in which the firm was censured and fined $30,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that due to a misunderstanding as to how to determine the time of execution and manual errors by its employees, it failed to report to the Trade Reporting and Compliance Engine (TRACE®) the correct time of execution for transactions in TRACEeligible securitized products.

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Fined: Key Investment Services LLC Fined by FINRA

Fined

Key Investment Services LLC Fined by FINRA

An AWC was issued in which the firm was censured, fined $425,000, ordered to pay $589,221.66, plus interest, in restitution to customers, ordered to pay disgorgement to customers in the amount of $134,169.40, plus interest, and is also required to certify in writing to FINRA that it has implemented supervisory systems and WSPs reasonably designed to address each of the areas of conduct identified in the AWC, and to achieve compliance with suitability requirements for unit investment trust (UIT) transactions. In determining the appropriate sanction in this matter, FINRA considered, among other factors, that the firm previously paid $470,818.75 in restitution to complaining and non-complaining customers.

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Article: From Russia, with Malware: US Charges Hacking Group Evil Corp. In $100M Bank Fraud

Article - Media, Publications

From Russia, with Malware: US Charges Hacking Group Evil Corp. In $100M Bank Fraud

PYMNTS, 05 December 2019

Call it Russian interference of a different sort that netted $100 million from banks and financial institutions (FIs) in more than 40 countries.

What would you expect from an outfit named Evil Corp.? Sometimes, it seems, there is truth in advertising.

The U.S. Department of Justice issued a multicount indictment Thursday (Dec. 5) against two Russian citizens, Igor Turashev and Maksim V. Yakubets. They are connected with a Russian hacking group known as Evil Corp., which has been known to release malware. The duo allegedly — and with the help of more than a dozen others — worked to deploy malware known as Dridex (aka Cridex and Bugat) and for committing wire and bank fraud. Continue reading “Article: From Russia, with Malware: US Charges Hacking Group Evil Corp. In $100M Bank Fraud”

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Article: Russian Nationals Charged With Series of Hacking and Bank Fraud Offenses

Article - Media, Publications

Russian Nationals Charged With Series of Hacking and Bank Fraud Offenses

Security Magazine, 05 December 2019

The US, through its Departments of Justice and State, and the UK, through its National Crime Agency (NCA), announced the unsealing of criminal charges in Pittsburgh, Pennsylvania, and Lincoln, Nebraska, against Maksim V. Yakubets, aka online moniker, “aqua,” 32, of Moscow, Russia, related to two separate international computer hacking and bank fraud schemes spanning from May 2009 to the present. A second individual, Igor Turashev, 38, from Yoshkar-Ola, Russia, was also indicted in Pittsburgh for his role related to the “Bugat” malware conspiracy. Continue reading “Article: Russian Nationals Charged With Series of Hacking and Bank Fraud Offenses”

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Article: Russian Hacking Group Evil Corp. Charged By Federal Prosecutors In Alleged Bank Fraud

Article - Media, Publications

Russian Hacking Group Evil Corp. Charged By Federal Prosecutors In Alleged Bank Fraud

BOBBY ALLYN, 05 December 2019

Federal law enforcement officials have announced criminal charges against two Russian nationals who operate a hacking organization known as Evil Corp., a group officials say is responsible for one of the most sweeping banking fraud schemes in the past decade.

The criminal indictments were unsealed in Pittsburgh, Pa., and Lincoln, Nebraska, against Maksim Yakubets, 32, and Igor Turashev, 38, both of whom live in Russia. The duo are accused of bank and wire fraud and computer hacking, among other counts. Continue reading “Article: Russian Hacking Group Evil Corp. Charged By Federal Prosecutors In Alleged Bank Fraud”

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Article: TECH ‘Evil Corp’: Feds charge Russians in massive $100 million bank hacking scheme

Article - Media, Publications

TECH ‘Evil Corp’: Feds charge Russians in massive $100 million bank hacking scheme

Kate Fazzini, 05 December 2019

The U.S. Justice and Treasury departments took action Thursday against a Russian hacking group known as “Evil Corp.,” which stole “at least” $100 million from banks using malicious software that swiped banking credentials, according to a joint press release.

“Evil Corp.,” a name reminiscent of the nickname for the key malevolent corporation in the popular television drama “Mr. Robot,” is “run by a group of individuals based in Moscow, Russia, who have years of experience and well-developed, trusted relationships with each other,” according to a Treasury Department press release. Continue reading “Article: TECH ‘Evil Corp’: Feds charge Russians in massive $100 million bank hacking scheme”

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Article: Berkshire Hathaway Bet Big on Dialysis Giant DaVita. Jim Chanos Thinks It’s a Scam

Article - Media

Berkshire Hathaway Bet Big on Dialysis Giant DaVita. Jim Chanos Thinks It’s a  Scam.

Christine Idzelis, Institutional Investor, 4 December 2019

DaVita provides life-extending dialysis treatment to more than 200,000 patients. But is it gaming the system through questionable donations to the American Kidney Fund?

Read full article.

Comment: Chanos is calling DVA a fraud. Stock was $59 it fell to $53.   Then it went to $115.    NICE WORK.  Buffet too big to cheat?