Dear Senator Corker, This message is to alert y
Post# of 96900
Posted On: 12/20/2016 4:02:43 PM
Dear Senator Corker,
This message is to alert you concerning apparent illegal activity (naked short selling) in the securities industry. Please use your influence to ensure that the applicable laws are being stringently enforced so that small investors such as myself have a level playing field.
VirnetX Class Accuses Big Brokers of Naked Short Sales
by Chris Fry - December 19, 2016
HACKENSACK, N.J. (CN) – Investors claim in a federal class action that Goldman Sachs and other banking giants suppressed the share price of VirnetX, “a leader in mobile security technology.”
In addition to Goldman Sachs, the Dec. 14 complaint in Bergen County Superior Court takes aim at Merrill Lynch, Credit Suisse, TD Ameritrade, Charles Schwab and the Bank of New York Mellon. The case is the Top Download for Courthouse News on Monday.
As they have with countless other stocks, according to the complaint, the brokerages schemed to execute naked short sales for shares of VirnetX, with no intention of delivering stock to settle the short sales.
“Instead, these prime brokers have intentionally failed to deliver VirnetX stock to settle the short positions so as to reap huge profits and ingratiate themselves to their hedge fund and corporate clients,” the complaint says.
Read More: http://investorshangout.com/post/view?id=4237...z4TPH3g2sG
This message is to alert you concerning apparent illegal activity (naked short selling) in the securities industry. Please use your influence to ensure that the applicable laws are being stringently enforced so that small investors such as myself have a level playing field.
VirnetX Class Accuses Big Brokers of Naked Short Sales
by Chris Fry - December 19, 2016
HACKENSACK, N.J. (CN) – Investors claim in a federal class action that Goldman Sachs and other banking giants suppressed the share price of VirnetX, “a leader in mobile security technology.”
In addition to Goldman Sachs, the Dec. 14 complaint in Bergen County Superior Court takes aim at Merrill Lynch, Credit Suisse, TD Ameritrade, Charles Schwab and the Bank of New York Mellon. The case is the Top Download for Courthouse News on Monday.
As they have with countless other stocks, according to the complaint, the brokerages schemed to execute naked short sales for shares of VirnetX, with no intention of delivering stock to settle the short sales.
“Instead, these prime brokers have intentionally failed to deliver VirnetX stock to settle the short positions so as to reap huge profits and ingratiate themselves to their hedge fund and corporate clients,” the complaint says.
Read More: http://investorshangout.com/post/view?id=4237...z4TPH3g2sG
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