Have no doubt we have this happening to us on a sm
Post# of 39368
Posted On: 03/18/2015 8:58:12 PM
Have no doubt we have this happening to us on a small scale compared to count ackman:
HLF - Watchdog Group Asks Congress To Investigate Bill Ackman For “Gov’t Manipulation”
CREW ratchets up pressure on Bill Ackman for government manipulation in Herbalife case
Posted date: March 18, 2015 03:16:42
Nonprofit lobbying organization Citizens for Responsibility and Ethics in Washington (CREW) sent a letter to the House and Senate Commerce Committees on Wednesday requesting they investigate the problem of large short sellers attempting to manipulate the federal government for personal profits. The letter singled out hedge fund titans Steve Eisman and Bill Ackman as potential violators.
Statement from CREW Executive Director
CREW Interim Executive Director Anne Weismann noted, “First it was Steve Eisman working over the Department of Education (Education) while he shorted the stocks of for-profit colleges and now it’s Bill Ackman ginning up a federal investigation into Herbalife Ltd. (NYSE:HLF) to make good on a billion dollar bet against the company.”
Weismann went on to say: “While it appears DOJ and the SEC may be investigating Mr. Ackman’s conduct, Congress needs to look at this issue. Many Americans already believe Wall Street is a rigged game. Watching billionaire hedge fund managers get richer by instigating government action can only lead to further decreased confidence in the country’s financial markets and government leaders.”
Documents show Bill Ackman’s team regularly contacted FTC officials
As reported by the The New York Times Company (NYSE:NYT) and other media sources, Bill Ackman and his hedge fund have made great efforts to urge federal regulatory action against Herbalife, a company in which Ackman held a large short position. Ackman even admitted he just needed to get any one of “the SEC, the FTC, the 50 attorney generals around the country, (or) the equivalent regulators in 87 countries,” to start an investigation in order to drive the price down.
The Department of Justice has reportedly initiated an investigation into Ackman’s activities as an attempt to manipulate Herbalife’s stock.
CREW claims that it received documents through a Freedom of Information Act request showing that Bill Ackman’s lawyer contacted Lois Greisman, the Associate Director of the Division of Marketing Practices at the FTC, on a regular basis with articles and blog posts critical of Herbalife, some of which were written or paid for by Ackman or his associates.
Fran McGill, a spokesman for New York-based Pershing Square at Rubenstein Associates Inc., declined to comment. An Herbalife spokeswoman declined to comment on the matter
See the full letter here – http://www.citizensforethics.org/page/-/PDFs/...df?nocdn=1 and here http://www.citizensforethics.org/page/-/PDFs/...df?nocdn=1
HLF - Watchdog Group Asks Congress To Investigate Bill Ackman For “Gov’t Manipulation”
CREW ratchets up pressure on Bill Ackman for government manipulation in Herbalife case
Posted date: March 18, 2015 03:16:42
Nonprofit lobbying organization Citizens for Responsibility and Ethics in Washington (CREW) sent a letter to the House and Senate Commerce Committees on Wednesday requesting they investigate the problem of large short sellers attempting to manipulate the federal government for personal profits. The letter singled out hedge fund titans Steve Eisman and Bill Ackman as potential violators.
Statement from CREW Executive Director
CREW Interim Executive Director Anne Weismann noted, “First it was Steve Eisman working over the Department of Education (Education) while he shorted the stocks of for-profit colleges and now it’s Bill Ackman ginning up a federal investigation into Herbalife Ltd. (NYSE:HLF) to make good on a billion dollar bet against the company.”
Weismann went on to say: “While it appears DOJ and the SEC may be investigating Mr. Ackman’s conduct, Congress needs to look at this issue. Many Americans already believe Wall Street is a rigged game. Watching billionaire hedge fund managers get richer by instigating government action can only lead to further decreased confidence in the country’s financial markets and government leaders.”
Documents show Bill Ackman’s team regularly contacted FTC officials
As reported by the The New York Times Company (NYSE:NYT) and other media sources, Bill Ackman and his hedge fund have made great efforts to urge federal regulatory action against Herbalife, a company in which Ackman held a large short position. Ackman even admitted he just needed to get any one of “the SEC, the FTC, the 50 attorney generals around the country, (or) the equivalent regulators in 87 countries,” to start an investigation in order to drive the price down.
The Department of Justice has reportedly initiated an investigation into Ackman’s activities as an attempt to manipulate Herbalife’s stock.
CREW claims that it received documents through a Freedom of Information Act request showing that Bill Ackman’s lawyer contacted Lois Greisman, the Associate Director of the Division of Marketing Practices at the FTC, on a regular basis with articles and blog posts critical of Herbalife, some of which were written or paid for by Ackman or his associates.
Fran McGill, a spokesman for New York-based Pershing Square at Rubenstein Associates Inc., declined to comment. An Herbalife spokeswoman declined to comment on the matter
See the full letter here – http://www.citizensforethics.org/page/-/PDFs/...df?nocdn=1 and here http://www.citizensforethics.org/page/-/PDFs/...df?nocdn=1
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