Article: Hedge Fund Sues Brokers Alleging Naked Shorting In Now Defunct Concordia Health

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Hedge Fund Sues Brokers Alleging Naked Shorting In Now Defunct Concordia Health

Tyler Durden, Zero Hedge, 16 February 2021

Several major international brokers have been sued by a Bermuda hedge fund that claims the brokerages coordinated “abusive” naked short selling and spoofing strategies in US and Canadian markets. The suit revolves around the former Concordia Health, which was highly leveraged and ultimately went bankrupt after controversy about price gouging.

CIBC, Bank of America, UBS and TD Bank are among those named as defendants in a lawsuit filed by Harrington Global Opportunity Fund in the US District Court for the Southern District of New York, according to Securities Finance Times.

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Article: International brokers sued over naked short selling allegations

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International brokers sued over naked short selling allegations

Alex Pugh, SecuritiesFinanceTimes, 12 February 2021

CIBC, Bank of America, UBS and TD Bank stand accused of coordinating “abusive” naked short selling and spoofing strategies in US and Canadian stock markets by a Bermuda hedge fund that claims to have lost tens of millions of dollars as a result.

Read full article.

Article: CIBC, Bank of America, UBS and TD Bank stand accused of coordinating “abusive” naked short selling and spoofing strategies

Article - Media, Publications

CIBC, Bank of America, UBS and TD Bank stand accused of coordinating “abusive” naked short selling and spoofing strategies

onlymadethistoupvote, 12 February 2021

International brokers sued over naked short selling allegations CIBC, Bank of America, UBS and TD Bank stand accused of coordinating “abusive” naked short selling and spoofing strategies in US and Canadian stock markets by a Bermuda hedge fund that claims to have lost tens of millions of dollars as a result.

Harrington Global Opportunity Fund has filed a suit at the US District Court for the Southern District of New York alleging that various US and Canadian financial institutions, through their broker divisions, manipulated markets and drove down pharmaceutical company ADVANZ PHARMA’s (formerly Concordia) share price in 2016. Continue reading “Article: CIBC, Bank of America, UBS and TD Bank stand accused of coordinating “abusive” naked short selling and spoofing strategies”