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Article: Home Capital Group comments on statement of claim

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Home Capital Group comments on statement of claim

Home Capital Group Inc. , 17 January 2018

Home Capital Group Inc. (“Home Capital” or the “Company”) (TSX:HCG) today announced it has received a statement of claim issued by Marc Cohodes, who opted out of a global settlement of the securities class action in 2017 with Home Capital. The claim is based on allegations of misrepresentations and oppressive conduct and seeks $4 million in damages. Continue reading “Article: Home Capital Group comments on statement of claim”

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Article: Short Seller Cohodes Claims Home Capital Group Misled Him, Suit Say

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Short Seller Cohodes Claims Home Capital Group Misled Him, Suit Say

Vipal Monga, 17 January 2018

Short seller Marc Cohodes on Tuesday sued Canadian mortgage lender Home Capital Group Inc. for 4 million Canadian dollars ($3.2 million) for allegedly misrepresenting the state of its business in 2015, leading him to close out short positions at a loss. Continue reading “Article: Short Seller Cohodes Claims Home Capital Group Misled Him, Suit Say”

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Article: Tucows (TCX) Alert: Johnson Fistel Announces Investigation of Tucows Inc.; Encourages Investors to Contact the Firm for Additional Information

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Tucows (TCX) Alert: Johnson Fistel Announces Investigation of Tucows Inc.; Encourages Investors to Contact the Firm for Additional Information

Johnson Fistel, 09 July 2018

Johnson Fistel, LLP, is investigating potential violations of federal securities laws by Tucows Inc. (NASDAQ: TCX) (“Tucows”). Tucows provides network access, domain name registration, email, mobile telephony, and other Internet services in the United States, Canada, and Germany.

On January 8, 2018, Copperfield Research issued a report stating that Tucows failed to disclose a lawsuit “that should imminently result in the loss of 11% of the Company’s revenue producing domains; nine insiders who sold $21 million of stock while hiding the fact its eNom subsidiary was being sued by its largest partner for breach of contract; and a laundry list of accounting shenanigans and financial irregularities.”
Continue reading “Article: Tucows (TCX) Alert: Johnson Fistel Announces Investigation of Tucows Inc.; Encourages Investors to Contact the Firm for Additional Information”

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Article: US regulators to fine UBS, Deutsche Bank, HSBC for ‘spoofing’ and manipulation: Sources

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US regulators to fine UBS, Deutsche Bank, HSBC for ‘spoofing’ and manipulation: Sources

Ruben Sprich, 29 January 2018

The U.S. derivatives regulator is set to announce it has fined European lenders UBS, HSBC, and Deutsche Bank millions of dollars each for so-called spoofing and manipulation in the U.S. futures market, three people with direct knowledge of the matter told Reuters.

The enforcement action by the Commodity Futures Trading Commission (CFTC) is the result of a multiagency investigation that also involves the Department of Justice (DoJ) and the Federal Bureau of Investigation (FBI) — the first of its kind for the CFTC, the people said.

The fines for UBS and Deutsche Bank will be upward of $10 million, while the fine for HSBC will be slightly less than that, the people said, without providing exact figures. Continue reading “Article: US regulators to fine UBS, Deutsche Bank, HSBC for ‘spoofing’ and manipulation: Sources”

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Article: Tucows Inc. (TCX): Cashing In On Neo-Nazis, Child Porn, & A Hidden Lawsuit As Insiders Dump

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Tucows Inc. (TCX): Cashing In On Neo-Nazis, Child Porn, & A Hidden Lawsuit As Insiders Dump

Copperfield Research, 08 January 2018

We believe Tucows’ business model and economics have been severely misrepresented by management and are grossly misunderstood by shareholders. The history of this former Canadian penny stock is littered with red flags, dubious accounting gimmicks that inflate EBITDA, financial reports that fail to reconcile from one quarter to the next, and a promotional management team who recently resorted to infomercials. Based on our deep dive forensic analysis, we believe Tucows intrinsic value is closer to $20.00 per share, at best, or nearly 70% below its current trading price. And this price target generously ignores material risks from Tucows’ UNDISCLOSED litigation with its largest domain reseller.

In late December, a Washington State Court ordered Tucows to transfer 3.2 million “.com” and “.net” domain names to Namecheap, and an Appeals Court denied Tucows’ motion for an emergency stay.
Continue reading “Article: Tucows Inc. (TCX): Cashing In On Neo-Nazis, Child Porn, & A Hidden Lawsuit As Insiders Dump”

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Article: Overstock CEO Spearheads Cryptocurrency

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Overstock CEO Spearheads Cryptocurrency

Sarah Koebel, 08 January 2018

Tech-driven online retailer Overstock’s CEO, Patrick Byrne, has made quite the splash in the cryptocurrency world.

As one of the first retailers to accept bitcoin as a form of payment, Overstock has reaped in some serious profit. Its stocks have risen significantly since July (much like the price of bitcoin). And thanks to Bryne’s development of tZero, an ICO for OverStock, more profits are set to roll in. And Byrne isn’t stopping there, he has also created a company that will use blockchain technology to help provide land rights to people in developing countries. Continue reading “Article: Overstock CEO Spearheads Cryptocurrency”

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Article: Ban Lifted, Steven Cohen May Soon Be Investing For Clients Again

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Ban Lifted, Steven Cohen May Soon Be Investing For Clients Again

Nicole Einbinder, 08 January 2018

Steven Cohen, the billionaire investor once known as “the hedge-fund king,” could soon be managing other people’s money again — assuming investors can look past the insider trading allegations that sunk his previous firm.

For the past two years, Cohen has been barred from managing money for clients under a 2016 agreement reached with the Securities and Exchange Commission for failing to properly supervise a former portfolio manager at his fund SAC Capital Advisors who was found guilty of insider trading. Continue reading “Article: Ban Lifted, Steven Cohen May Soon Be Investing For Clients Again”

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Article: Canada’s Aurora dismisses Citron prediction for share drop

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Canada’s Aurora dismisses Citron prediction for share drop

Nichola Saminather, 04 January 2018

Canadian marijuana producer Aurora Cannabis Inc on Wednesday dismissed claims from short-seller Citron Research that its stock was set to decline due to problems with its business model. Citron earlier on Wednesday said Aurora shares are poised to shed half their value. Aurora shares on Wednesday closed up 20 percent at C$14.18. They hit a 52-week low of C$1.90 in June.

Citron said in a report posted on Twitter that Aurora lacks a path to profitability, is spending too heavily on acquisitions and that stock sales by company insiders show a lack of confidence in the company’s future.
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Article: Citron Slams Aurora Cannabis; Company Says It Won’t ‘Lose Any Sleep On Amateurish Attack’

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Citron Slams Aurora Cannabis; Company Says It Won’t ‘Lose Any Sleep On Amateurish Attack’

Benzinga, 03 January 2018

After a 545-percent run the last three months, AURORA CANNABIS IN (OTC:ACBFF) is running on fumes, according to Citron Research. Short-seller Andrew Left warned investors in a Wednesday short thesis that the $10.80 stock is likely to concede 50 percent “when sanity sets in.”

“You must be high to be buying Aurora, which sports Enron type accounting and is the weakest player in the space,” Left tweeted at 12:39 p.m. ET. Aurora Cannabis announced Tuesday it sold cannabis worth $2.5 million in November, its highest ever. By Left’s assessment, the firm has no path to profitability even without the burden of taxes and distribution, and its financing structure betrays weakness in the underlying business model.
Continue reading “Article: Citron Slams Aurora Cannabis; Company Says It Won’t ‘Lose Any Sleep On Amateurish Attack’”

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Article: Deutsche Bank Securities Fined $70 Million in Manipulation Case

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Deutsche Bank Securities Fined $70 Million in Manipulation Case

TOM BEMIS, 02 January 2018

Deutsche Bank Securities Inc., a unit of Deutsche Bank (DB) – Get Report , was fined $70 million as part of a settlement of charges by the Commodity Futures Trading Commission that it attempted to manipulate a key foreign exchange benchmark.

The CFTC found that DBSI made false reports and sought to manipulate the U.S. Dollar International Swaps and Derivatives Association Fix, used as a daily reference in a wide variety of interest-rate products.

The manipulations between 2007 and 2012 sought to benefit DBSI’s derivative positions, the CFTC said in a statement. Continue reading “Article: Deutsche Bank Securities Fined $70 Million in Manipulation Case”

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Article: Banned Hedge Fund Manager Steven Cohen Is Back – And Investors Are Wary

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Banned Hedge Fund Manager Steven Cohen Is Back – And Investors Are Wary

Ari Feldman, 26 December 2017

Steven Cohen may soon be able to manager other people’s money once again — but potential investors are wary, the New York Times reported. Cohen, a billionaire who for years ran S.A.C. Capital, nearly had had his career destroyed after a government investigation into insider trading at his firm.

Cohen was banned for two years from running a hedge fund after an investor at his firm used illegal trading methods. S.A.C. Capital also paid $1.6 billion in fines and penalties after pleading guilty to securities exchange fraud. Continue reading “Article: Banned Hedge Fund Manager Steven Cohen Is Back – And Investors Are Wary”

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Article: Thanks to Marc Cohodes, We’re Back to the Bad Old Days at Overstock.com

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Thanks to Marc Cohodes, We’re Back to the Bad Old Days at Overstock.com

White Collar Fraud, 20 December 2017

Overstock.com CEO Patrick Byrne is good at many things, but not running a public company. The company has cooked the books for years at a time, and as explored by money manager Dave Kranzler in this Seeking Alpha blog, Overstock is a “dumpster fire waiting to happen,” a cash-burning vehicle run by a hype-happy chief executive and floating on a cloud of hot air.
Continue reading “Article: Thanks to Marc Cohodes, We’re Back to the Bad Old Days at Overstock.com”

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Article: Russian and British national guilty of elaborate $1 million fraud following private prosecution

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Russian and British national guilty of elaborate $1 million fraud following private prosecution

Edmonds, Marshall, McMahon, 13 December 2017

On the 13th December 2017, Andrey Kulich was unanimously convicted in a private prosecution for his involvement in a $1 million conspiracy to defraud Argyn Khassenov, following a four-week trial at Birmingham Crown Court.

Andrey Kulich, a Russian and British national, of Newham Bridge, Worcestershire, was sentenced to a total of 5 years imprisonment and confiscation proceedings will follow.

Commenting on the case, Tamlyn Edmonds, Partner at Edmonds Marshall McMahon who was instructed by the victim of the fraud, Argyn Khassenov, said: Continue reading “Article: Russian and British national guilty of elaborate $1 million fraud following private prosecution”