Article: Huge Group rubbishes market manipulation claim

Article - Media, Publications

Huge Group rubbishes market manipulation claim

DUNCAN MCLEOD, 16 March 2021

Huge Group CEO James Herbst on Tuesday rubbished a claim that the company used its share buyback programme to manipulate its share price higher ahead of its bid to acquire fellow JSE-listed firm, software services group Adapt IT.

News24 reported late on Monday that Huge Group is being probed by the Financial Sector Conduct Authority (FSCA) after a shareholder lodged a complaint against it at the regulatory body. According to the report, the complaint was filed by Kerem Aksoy, the managing member of a US-based investment advisory firm called Glacier Pass Management.

Huge was reportedly actively buying its own shares through December and into January – so much so, that most trades in the (often relatively illiquid) share were because of the buyback programme.

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Article: Steven Cohen’s Hedge Fund Being Investigated For Insider Trading: Report

Article - Media, Publications

Steven Cohen’s Hedge Fund Being Investigated For Insider Trading: Report

Matthew Goldstein and Svea Herbst, 18 March 2010

The question on the minds of investors, managers and lawyers inside and outside the hedge fund industry today is, who’s next? Continue reading “Article: Steven Cohen’s Hedge Fund Being Investigated For Insider Trading: Report”