Forbes, 12 February 2007
How a tiny software outfit fell victim to an illegal but unrestrained practice known as naked short-selling.
Most investors have never heard of Sedona (otcbb: SDNA.OB – news – people ) Corp., a piddling Pennsylvania outfit that sells customer relationship management software for small U.S. banks and credit unions. But to a rogue band of short-selling hedge fund managers, Sedona was prime meat.
Forbes cited by RGB Communications via Wayback, 29 August 2006
Louisiana State Attorney General Charles Foti is trying to force UBS, the Wall Street investment bank, to turn over vast quantities of information on its trading, stock lending and other activities related to shares of software firm Sedona Corporation.
The Louisiana Department of Justice filed documents in a state court Tuesday to compel UBS to hand over the information in ten days.
Sanity Check via Wayback, 3 April 2006
After the great hoopla of the the Bermuda Short Sting Case, which produced a conviction rate of about 88% of indictees, the silence from the Government on related collateral indictments in pending cases, some more than four years old, is literally deafening.
The Government’s various agencies really have an “NIH” (Not Invented Here) attitude towards grass root developed cases coming up to them not as a direct result of their own investigative initiative. I am aware of case after case taken to various agencies of the Government with substantive evidence attached, which were ignored, black-holed, or thrown back at the victims.