John Maurice O’Quinn (September 4, 1941 – October 29, 2009) was a Texas trial lawyer and founding partner of The O’Quinn Law Firm (formerly known as O’Quinn & Laminack). His firm made its business handling plaintiff’s litigation, including representing clients suing breast implant manufacturers, medical facilities, and tobacco companies. In 2009, O’Quinn, along with his passenger, died in a single car crash in Houston, Texas. There were three class-action law firms, headed by John O’Quinn, pushing back against naked short selling. O’Quinn ‘s firm was one also representing Overstock.com in the Internet retailer’s suit against short seller Rocker Partners LP and research firm Gradient Analytics.
Meet this maverick short seller whose favourite pastime is exposing ‘bad companies’
The Economic Times, 12 February 2017
The roosters start crowing at 4 am on Alder Lane Farm, about an hour north of San Francisco on the edge of Sonoma wine country. While horses stir in their stables and chickens begin to roam the 20-acre property, one of the world’s most fearsome short sellers puts on his usual attire—shorts and flip-flops—and makes his way in the dark to the room behind his garage. Six pinball machines, a gigantic flatscreen, and a pingpong table compete for attention. If not for the Bloomberg terminal in the corner, you might assume this was your typical man cave.
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Will the Justice Department and the SEC Go After Blatantly Illegal RICO Activity by the Nation’s Most Prominent Hedge Funds?
Sanity Check via Wayback, 3 January 2009
Apparently hedge funds like Kynikos, and SAC, have a secret for their outsize performance.
Racketeering, and illegal frontrunning, if my read is correct.
That’s the only conclusion one can draw from the stunningly simple and obvious analysis of email records that Judd Bagley, over at the Deepcapture site, has compiled.
You have Jim Chanos, who is all over the airwaves as the advocate and public face of the hedge fund world, who argues against any and all regulation or oversight for hedge funds or short sellers, apparently actively frontrunning information illegally obtained from stock analysts, who eagerly shared their analysis and spreadsheets with him in advance of publishing negative smear pieces subsequently shown by time to have been nothing more than hatchet jobs.
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Hedge Fund Hell
Forbes cited by RGM Communications via Wayback, 28 July 2006
Toronto-based Fairfax Financial Holdings filed a $5 billion lawsuit against SAC Capital, Rocker Partners and a number of other hedge funds, claiming they manipulated the insurance company’s stock, shearing its market cap by one-third.
Earlier this week, the regulatory arm of NYSE Group, fined Daiwa Securities America, Goldman Sachs Execution & Clearing, Credit Suisse Securities, and Citigroup Global Markets $1.25 million for violations of Regulation SHO–a rule put in place in January 2005 to clamp down on abuses–related to how they handle and monitor short-sale transactions by hedge funds and other clients.
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Forbes, 28 June 2006
So who should be overseeing the $1.2 trillion hedge fund industry? Apparently no one is now. But the U.S. Senate Judiciary Committee has two ideas.
Either the nation needs new legislation to tackle allegations of widespread trading abuses by the hedge funds, or law enforcement officials should simply be encouraged to do the right thing with laws they already have at their disposal?
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