Article: In Pursuit of the Naked Short by Alexis Stokes

Article - Academic

In Pursuit of the Naked Short

Alexis Stokes, Texas State University

Journal of Law and Business 5/1 (Spring 2009)

This article explores the origins of naked short-selling litigation; considers
the failures of significant naked short-selling lawsuits in federal court;
surveys the obstacles erected collectively by constitutional standing requirements, the Federal Rules of Civil Procedure, the Private Securities Litigation Reform Act, brokerage firms, death spiral financiers, and the Depository Trust and Clearing Corporation; examines the efficacy of Regulation SHO, SEC rule 10b-21, and new FINRA rules; discusses recent state legislation and state court litigation; and identifies non-litigation options to curb naked short-selling. Ultimately, this article seeks to answer the question: If manipulative naked short-selling is more than a mythological scapegoat for
small cap failure, what remedies are, or should be, available?

PDF (62 Pages): Article In Pursuit of the Naked Short

Article: Endovasc Ltd. Inc. v. JP Turner & Co. LLC et al: Complaint

Article - Media, Publications

Endovasc Ltd. Inc. v. JP Turner & Co. LLC et al: Complaint

Smarter Legal Research, 30 March 2004

Complaint in Endovasc Ltd. Inc. v. J.P. Turner & Co. LLC, KCM Group LLC, Kingdon Capital Management LLC, The Keshet Fund LP, Sichenzia Ross & Friedman LLP, Keshet LP, Nesher Ltd., Talbiya B. Investments Ltd., Balmore Funds SA, David Grin, LH Financial Services Corp., Laurus Master Fund Ltd., Laurus Capital Management LLC, Celeste Trust Reg, and Patrick Power at the U. S. District Court for the Southern District of New York.

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Article: Endovasc Ltd., Inc. v. J. P. Turner Co., LLC

Article - Media, Publications

Endovasc Ltd., Inc. v. J. P. Turner Co., LLC

OffshoreAlert, 11 September 2002

Plaintiff, Endovasc Ltd., Inc. (“Endovasc” or “Plaintiff”, brings this action asserting in their Second Amended Complaint (the “Complaint” or “Compl.”) that they were injured by the fraudulent acts of defendants J.P. Turner Co., LLC (“JP Turner”), KCM Group LLC (“KCM”), The Keshet Fund, L.P. “Keshet Fund”), Keshet, LP (“Keshet”), Nesher, Ltd. (“Nesher”), Talbiya B. Investments, Ltd. (“Talbiya”), Balmore Funds S.A. (“Balmore”), David Grin (“Grin”), LH Financial Services Corp. “LH”), Laurus Master Fund, Ltd. (“Laurus Master Fund”), Laurus Capital Management, LLC (“Laurus Capital”), Celeste Trust Reg.”Celeste’, Patrick Power; “Power”), and John Clark (“Clark”) (collectively, “Defendants”), in violation of Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b) (“Section 10(b)”) and Rule 10b-5 promulgated thereunder by the Securities and Exchange Commission (“SEC”), 17 C.F.R. § 240.10b-5 (“Rule 10b-5”) and Section 20(a) of the Securities Exchange Act (“Section 20(a)”), 15 U.S.C. § 78t(a).

Endovasc also asserts claims for common law fraud and deceit, civil conspiracy to defraud, breach of contract, and restitution under the Securities Exchange Act of 1934. Defendants move to dismiss the Complaint in its entirety on various grounds and for sanctions under Rule 11 of the Federal Rules of Civil Procedure. For the reasons stated below, Defendants’ motions to dismiss are granted, and their motions for sanctions denied.

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