Joseph Saveri Law Firm | 21.02.02
On January 28, many brokerages abruptly and unilaterally restricted retail investors’ ability to buy long positions—in some cases removing the option to buy shares of the relevant securities while openly permitting them to sell their existing shares or prohibiting users from viewing the tickers for some or all of the relevant securities.
Continue reading “Article: Short Squeeze Stockbrokers And Hedge Funds Face Proposed Antitrust Class Action”
The Joseph Saveri Law Firm filed an antitrust class action lawsuit today on behalf of a class of retail investors in federal court against 35 defendants, including Robinhood, E*TRADE, TD Ameritrade, Melvin Capital, Citadel, Sequoia Capital, and others.
The plaintiffs allege that they and other retail investors continue to be injured due to a large, overarching conspiracy among the defendants to stop them from buying stocks in open and fair public securities markets.
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Who’s Been Swimming Naked? We’re About to Find Out (It’s Time to Raise Capital)
Runway Growth, 18 November 2019
Every growth company on the planet should seriously consider raising additional capital now. The U.S. economy and capital markets are showing near-record valuations, performance and strength across the board. However, we are keenly aware of economist Herb Stein’s maxim, “If something can’t go on forever, it won’t.” Growth capital is readily available today—but likely won’t be for many companies in the near future.
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Looting the Pension Funds
All across America, Wall Street is grabbing money meant for public workers
Rolling Stone, 10 October 2013
Raimondo’s strategy for saving money involved handing more than $1 billion – 14 percent of the state fund – to hedge funds, including a trio of well-known New York-based funds: Dan Loeb’s Third Point Capital was given $66 million, Ken Garschina’s Mason Capital got $64 million and $70 million went to Paul Singer’s Elliott Management.
The state’s workers, in other words, were being forced to subsidize their own political disenfranchisement, coughing up at least $200 million to members of a group that had supported anti-labor laws.
This is the third act in an improbable triple-fucking of ordinary people that Wall Street is seeking to pull off as a shocker epilogue to the crisis era.
Baker reported that, had public pension funds not been invested in the stock market and exposed to mortgage-backed securities, there would be no shortfall at all.
It’s a scam of almost unmatchable balls and cruelty, accomplished with the aid of some singularly spineless politicians. And it hasn’t happened overnight. This has been in the works for decades, and the fighting has been dirty all the way.
Union leaders all over the country have started to figure out the perils of hiring a bunch of overpriced Wall Street wizards to manage the public’s money.
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