kerrisdale capital sec investigation

On October 5, 2021, Kerrisdale Capital issued a report which stated that, "Camber is a defunct oil producer that has failed to file financial statements with the SEC since September 2020, is in . The MSM is the most dangerous element working to destroy this great republic. The SEC's investigation was conducted by John H. Mulhern and Kimberly L. Frederick of the Asset Management Unit in the Denver Regional Office, and Daniel M. Konosky of the Denver Regional Office. Both the spokespeople and the SEC declined to comment. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. The Department of Justice and the U.S. Securities and Exchange Commission are investigating dozens of investment firms for their short selling activities. Two months later, Luckin Coffee itself reported the discovery that its chief operating officer and other staffers had fabricated about 40% of its revenue in 2019. ago Patriot . Bloomberg reported that Luckin Coffee is one of the targets being reviewed by federal prosecutors investigating the relationship between research firms that publish short reports and hedge funds. August 31st, 2022 - Hedge Fund Investor Letters News, August 5th, 2021 - Hedge Fund Investor Letters News, February 13th, 2020 - Hedge Funds Insider Trading, June 19th, 2019 - Hedge Funds Insider Trading, January 23rd, 2019 - Hedge Funds Insider Trading, November 26th, 2018 - Hedge Fund Investor Letters Hedge Funds Market Movers News, February 8th, 2018 - Hedge Funds Insider Trading, August 22nd, 2016 - Hedge Fund Analysis Hedge Funds News. The SEC's order finds that KCM violated Sections 206(2) and 206(4) of the Investment Advisers Act of 1940 and Rule 206(4)-7 thereunder, and that Kornitzer violated Section 206(2) of the Advisers Act and caused KCM's violation of Section 206(4) of the Advisers Act and Rule 206(4)-7 thereunder. Kerrisdale Capital is an investment management firm. Spruce Point also believes the company's financial disclosures are weak and that its results "are being temporarily enhanced from concentrated exposure to high-risk gaming and eCommerce.". 1 Twitter 2 Facebook 3RSS 4YouTube Compliance with securities regulations has always been a point of significant emphasis at the firm since inception and we have not been subject to any regulatory action regarding insider trading or short-selling in our 13-year history.. It also settled charges filed by the Securities and Exchange Commission by paying a $180 million fine. October 06, 2021 17:06 ET In December, Bloomberg's article said that Citron, Anson Funds, Marcus Aurelius Value and Muddy Waters Capital were being investigated. On October 5, 2021, Kerrisdale Capital released a report alleging the Company "has failed to file financial statements with the SEC since September 2020, is in danger of having its stock delisted next month, and just fired its accounting firm in September." In addition, the order finds that prior to February 2018, KCM failed to adopt written policies and procedures reasonably designed to prevent violations of the Advisers Act in connection with adhering to client objectives and restrictions, and after February 2018 failed to implement such policies and procedures. By all indications, in October 2021 TMTG was a shell company with no or only nominal operations. Following this news, Cambers stock price fell $1.56, or over 50%, to close at $1.53 per share on October 5, 2021. Sahm Adrangi Chief Investment Officer Edward Gu Chief Financial Officer Peter Baer Head of Marketing & Investor Relations Investor Login Keep me signed in Forgot password? Atlanta, Georgia--(Newsfile Corp. - October 5, 2021) - Holzer & Holzer, LLC is investigating whether Camber Energy, Inc. ("Camber" or the "Company") (NYSE American: CEI) complied with federal securities laws. Yet, none of that remotely existed when DWAC signed the merger agreement with TMTG. We recommend about 10-15 long positions and 5-10 short positions in our quarterly newsletter every quarter. The litigation will be led by Mr. Stoelting, Ms. Pauley, and Ms. Moilanen. Kerrisdale Capital, an investment management firm, published its second quarter 2021 investor letter a copy of which can be downloaded here. Our most recent contact with the DOJ was in assisting an investigation into the fraud at a company that we had researched.. Holzer & Holzer, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Viceroys Perring also said his company did not receive any requests for information. The sources also said that requests for information were also sent by the SEC. Your email address will not be published. The SEC also charged GPB Capital with violating the whistleblower protection laws. Contrary to the uninformed views of bulls, the SEC does have the ability to effectively kill the proposed merger, using, ironically, the same mechanism it used to kill three of ARC Groups companies just five years ago. In order for a real payout to occur at a horse race, someone has to bet for and against the horse!". It is unknown which short sellers named in thesubpoenas could be investigated in the future, or which ones just have relationships with other companies or are people of interest to the DOJ. UP Fintech Holding (TIGR) A Smart Long-Term Buy? CONTACT:Corey D. Holzer, Esq. Is Tencent Music Entertainment Group (TME) A Smart Long-Term Buy? We are short shares of Digital World Acquisition Corp. (DWAC), a SPAC valued at over $8bn on a pro forma basis, because we believe it will never secure the necessary regulatory approval to close its proposed merger with Trump Media & Technology Group (TMTG). We are short shares of Digital World Acquisition Corp. Insider Monkey tracks hedge funds' moves to identify the best stocks to buy and short. Kerrisdale Capital, an investment management company, released its investor letter for July. "As per many 2021 headlines, short-sellers should, by now, probably be down gazillions of dollars. Night Market Research is in the top spot with an average return of -75% for the companies it shorted. | Source: If you are a Camber investor and would like to learn more about our investigation, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. Jul 28, 2022 Its TAM is becoming saturated & competition has intensified. Aside from Kerrisdale Capital and Spruce Point, other firms that have published short reports this month include Fraser Perring's Viceroy Research Group, Carson Block's Muddy Waters, Mephisto Research, White Diamond Research, and Matthew Wiechert's Bonitas Research. Ivan Cosovic of Breakout Point offers some highlights of December's haul for short-sellers in an email. They themselves are pending investigations, They must have bought those overpriced june-September puts and got margin call lol. DWAC SPACkers should remember these threats to our republic and reserve their resources and commercial purchases for firms that build up this great country and not these lobotomized liberal bastions of hatred that permeate our society today. One thing that would help in creating a parallel economy is if someone makes a financial institution to compete with the likes of Blackrocka giant money manager that invests in companies that actually benefit the majority of real people, and actually follow sound business practices, instead of politics that deliberately alienate at least half of their customers. The firm also feels Meta Materials is a collection of failed lab experiments. Investors should abandon the fantasy that DWACs problems can be easily remedied with amended disclosures and a nominal fine. A luxury yacht owned by hedge fund manager Daniel Loeb damaged a pristine reef atoll in Belize near the famous Great Blue Hole, a popular diving site. FALSE, WRONG, FAKE, NOWHERE NEAR TRUE COMPLETE BS. Some of the investigations began in early 2021. All rights reserved. The complaint also charges GPB Capital and Gentile with violating the antifraud provisions of the Investment Advisers Act of 1940 and charges GPB Capital with violating the registration and whistleblower provisions of the Exchange Act and the Advisers Acts custody and compliance rules. Kerrisdale "the three stooges" Capital and it fellow dunces like Mr. Greg GERST, CFA have thrown all the crap they can against the wall and it is beginning to drop on their heads. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. On October 5, 2021, Kerrisdale Capital issued a report which stated that, Camber is a defunct oil producer that has failed to file financial statements with the SEC since September 2020, is in danger of having its stock delisted next month, and just fired its accounting firm in September. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey D. Holzer is the attorney responsible for its content. The order finds that as of December 2015, the securities of a single issuer constituted between 30% and 89% of the assets held by the CITs. The SECs complaint alleges that David Gentile, the owner and CEO of GPB Capital, and Jeffry Schneider, the owner of GPB Capitals placement agent Ascendant Capital, lied to investors about the source of money used to make an 8% annualized distribution payment to investors. Kerrisdale Capital also alleges the "market is badly mistaken about Camber's share count and ignorant of [Camber's] terrifying capital structure," estimating the Company's "fully diluted. Gregory Lemelson and Massachusetts-based Lemelson Capital Management LLC were charged with fraud in September 2018 for reaping more than $1.3 million in illegal profits by making false statements to drive down the price of San Diego-based Ligand Pharmaceuticals Inc. This year's most successful short-sellers. However, it believes Nuvei is under pressure after organic declines in North America. Spruce published on Nuvei, and shares hit -40% price target within only few hours of report publication.". While recent pressure on DWAC shares has been attributed to the executive exodus at TMTG and Elon Musks interest in acquiring Twitter, DWACs stock has much further to fall given the demonstrably misleading statements in DWACs registration statement, the status of TMTGs operations at the time the merger agreement was executed, the cast of characters seeking to consummate that merger and those individuals flagrant disregard for SEC rules and regulations. All our reports are based on information that is publicly available, sourced from records that anyone at any given time could research or find. Washington D.C., Feb. 4, 2021 . 3 mo. Action Alerts PLUS is a registered trademark of TheStreet, Inc. Start the year strong, access the AAP portfolio today. Content copyright 2023. Kerrisdale also highlights the sponsor of Digital World Acquisition being a Chinese firm that previously had three shell companies "killed by the SEC in the past." The SPAC merger announcement. As alleged, the fraudulent scheme continued for more than four years in part because GPB Capital kept investors in the dark about the limited partnership funds true financial condition, failing to deliver audited financial statements and register two of its funds with the SEC. "They also provide a valuable service by taking the opposite side of (long) trades, providing needed liquidity to the markets. The charges filed today reinforce the Commissions commitment to protecting whistleblowers from retaliation and attempts to stifle the free flow of information to the Commission about possible securities law violations.. In a recent letter to its investors, Sahm Adrangi's Kerrisdale Capital disclosed its performance during the second quarter and first-half of 2016. The SEC's examination that led to this enforcement action was conducted by Susan Day, Stephanie Fischer Bennett, Tim Worthington, Lisa Byington, Craig Ellis, Nick Madsen, and Tom Piccone of the Denver Regional Office. and Meta Materials. Let's take a look at how research firms serving hedge funds have done with their short calls this year and at whether the market benefits from these reports at all. "The most active was Kerrisdale Capital with three new short calls and corresponding average shares decline of 12.5%, while the most successful was Spruce Point Capital. According to the complaint, these defendants along with Ascendant Alternative Strategies, which marketed GPB Capitals investments, told investors that the distribution payments were paid exclusively with monies generated by GPB Capitals portfolio companies. Nearly all requests get approved, so dont be shy with those requests. The firm believes Astra is a "story stock that's yet another example of the questionable businesses going public via SPACs." The FBI took computers from the home of Andrew Left, the founder of Citron Research, which is known for its short selling trading, sources told Bloomberg. Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Ortex data. In DWAC, the SEC has been handed textbook examples of the types of SPAC-related misconduct that it is intent on shutting down. Manage your own risk! If you purchased Camber stock and suffered a loss on that investment, you are encouraged to contact Corey D. Holzer, Esq. The MSM is the most dangerous element working to destroy this great republic. Given these challenges we think there is significant risk DWAC never files an S-4 at all. The Securities and Exchange Commission today charged three individuals and their affiliated entities with running a Ponzi-like scheme that raised over $1.7 billion from securities issued by a New York-based asset management firm and registered investment adviser, GPB Capital. SaaS HCM players now control 40%+ of the SME mkt (<1k employees), with 10+ public or VC-backed co's providing similar solutions. Here's Why Kerrisdale Capital Shorted Lightwave Logic (LWLG). CONTACT:Corey D. Holzer, Esq. From 2016 to 2018, the board members repeatedly directed KCM and Kornitzer to provide and execute the requested plan to bring the CITs' concentration levels into compliance with the limit. The Rosen Law Firm, P.A. On October 5, 2021, Kerrisdale Capital released a report alleging the Company "has failed to file financial statements with the SEC since September 2020, is in danger of having its stock delisted . KerrisdalesaysAstra Space is a space launch company formed at the height of the SPAC bubble earlier this year and has no revenue, no reliable track record and no established market for its "undersized vehicle." For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com. KCM and Kornitzer, however, failed to do so, and the CITs incurred significant losses as a result. Is Paycom Software (PAYC) an Attractive Investment for the Long-Term? "We literally haven't. I bet u/thepatrickorlando gets a good laugh as hes fact checking this piece. The SECs investigation was conducted by Kristin M. Pauley, Lindsay S. Moilanen, Kerri L. Palen, David Stoelting, Neal Jacobson, Melissa A. Coppola, Alistaire Bambach, and Sheldon L. Pollock, and supervised by Lara S. Mehraban. Follow this author to stay notified about their latest stories. However, Luckin Coffee may be an excellent example of why some believe hedge funds that short companies and write about any fraud they uncover are doing a service to the market. Kerrisdale Capital Management's Return, AUM, and Holdings Back in 2009, Sahm Adrangi decided it was time to launch his own hedge fund, and so he founded Kerrisdale Capital Management, a New. I write about hedge funds with a focus on emerging managers. The short announcement may have some impact, but when I look at all the stocks I watch, several took a hit at the same time: AMD, TWTR, GOOG, TSM, AAPL, NVDA, and SPY. (R-NC). Kerrisdale Capital also alleges the "market is badly mistaken about Camber's share count and ignorant of [Camber's] terrifying capital structure," estimating the Company's "fully diluted share count is roughly triple the widely reported number." On this report, the price of the Company's stock plummeted. As alleged, GPB Capital actually used investor money to pay portions of the annualized 8% distribution payments. So how does one weigh the benefit for the market versus the benefit received by the hedge funds when they publicly report one of their shorts? The report further alleged that Camber only has one real asset, a 73% stake in an OTC-traded company with negative book value. $DWAC is the SPAC that is taking Trump Media and Technology Group (future $TMTG) to the public stock exchange via the NASDAQ. According to Breakout Point, Night Market Research also had two of the top 10 best short calls with Mountain Valley MD and BeyondSpring. Back in 2009, Sahm Adrangi decided it was time to launch his own hedge fund, and so he founded Kerrisdale Capital Management, a New York-based investment management firm with the main focus on long-term Sahm Adrangi's Kerrisdale Capital was the top performing hedge fund tracked by our database in Q3 according to our returns methodology. We are a community of serious BULLISH DWAC investors. Atlanta, Georgia--(Newsfile Corp. - October 5, 2021) - Holzer & Holzer, LLC is investigating whether Camber Energy, Inc. ("Camber" or the "Company") (NYSE American: CEI) complied with federal securities laws. Kerrisdale Capital Management LLC. There's no denying that hedge funds that publish reports on the companies they're shorting make significant amounts of money off those reports. Not professional financial advice. DWAC has admitted it is under SEC investigation for statements made in its S-1, as well as the timing and circumstances surrounding its proposed merger with TMTG. Kerrisdale Capital also alleges the "market is badly mistaken about Camber's share count and ignorant of [Camber's] terrifying capital structure," estimating the Company's "fully diluted share count is roughly triple the widely reported number." People familiar with the matter also said they wanted records from 36 people that were associated with those companies. Photographer: Peter Foley/Bloomberg. December 10, 2019 - The Securities and Exchange Commission today announced settled charges against Kornitzer Capital Management, Inc. (KCM), a Kansas-based registered investment adviser, and its President, CEO, and majority owner John C. Kornitzer, for not following client instructions and for failing to adopt or implement reasonably designed written policies and procedures connected to client objectives and restrictions. While recent pressure on DWAC shares has been attributed to the executive exodus at TMTG and Elon Musk's interest in acquiring Twitter, DWAC's stock has much further to fall given the demonstrably misleading statements in DWAC's registration statement, the status of TMTG's operations at the time the merger agreement was executed, the cast of characters seeking to consummate that merger and those individuals' flagrant disregard for SEC rules and regulations. KCM and Kornitzer told the board members that they would reduce the concentrations to 10% within 12 to 18 months. The Shorties are a bunch of crooks https://www.thestreet.com/markets/regulation/doj-sec-probe-dozens-of-firms-in-short-selling-sting. The Securities and Exchange Commission today charged three individuals and their affiliated entities with running a Ponzi-like scheme that raised over $1.7 billion from securities issued by a New York-based asset management firm and registered investment adviser, GPB Capital. 6LinkedIn 8 Email Updates, Order - Kornitzer Capital Management, Inc. and John C. Kornitzer. The SECs examination that led to the investigation was conducted by Anthony P. Fiduccia, Kristine E. Geissler, Todd Naznitsky, Amritpal Sidhu, Merryl Hoffman, and Thomas J. Butler. Kessler Topaz Meltzer & Check LLP This action shows our continued pursuit of those who deceive investors and conceal their misconduct to reap profits for themselves., Jane Norberg, Chief of the SEC's Office of the Whistleblower, added, Whistleblower protections are a cornerstone of the SECs whistleblower program. Without admitting or denying the findings, KCM and Kornitzer agreed to be censured, to cease-and-desist orders, and to a joint and several penalty of $2.7 million. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 lrosen . if DWAC lied on their 10k, Senator Karen already came out. Through this fear and panic make a profit on their current positions. DWAC is not just another dubious 2021 SPAC; it is a poster child for some of the worst abuses the investment vehicle has spawned. Sources told Bloomberg that the Justice Department is looking for potential abuses within the trading activities of these firms. Here is DWACfam Mark Willis hand delivering his DWAC UPDATE: Response from Rep. Dan Bishop's Office. HUBS GPB Capital allegedly violated the whistleblower provisions of the securities laws by including language in termination and separation agreements that impeded individuals from coming forward to the SEC, and by retaliating against a known whistleblower. RADNOR, Pa., Oct. 06, 2021 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP is currently investigating potential violations of the federal securities laws on behalf of shareholders of Camber Energy, Inc. (NYSE: CEI) (Camber). To gain SEC approval of a supposedly forthcoming S-4, DWAC needs to accurately detail the extent of the due diligence it conducted regarding TMTG within just six weeks, as well as explain the specific reasons why it believes merging with a de facto shell company is in DWAC shareholders best interests. Left said he has not been accused any wrongdoing. Breakout Point also provided data on this year's most successful short-sellers year to date. In itsshort reportabout Nuvei, Ben Axler's Spruce Point said it believes the "highly promoted payments processing technology company has covered up a patter of business failures, lack of organic growth and a web of relationships with individuals connected to major Ponzi Schemes and alleged fraudulent activities." And, given DWACs and TMTGs exceptionally high profile, an aggressive enforcement action would be an ideal way for the SEC to send a loud, unmistakable message to the industry. optimusprimemfs 9 mo. We make value-oriented investments in public securities. Please click here to read full disclosures. On this report, the price of the Company's stock plummeted. However, short-sellers saw stocks they publicly talked about decline [an] amazing 42% on average (if all major short calls from period Jan-Nov are observed).". Some of the well-known investment firms that were named in the Justice Departments requests include Orso Partners and co-founder Nate Koppikar; Melvin Capital Management and founder Gabe Plotkin; Sophos Capital Management and Jim Carruthers; and Kerrisdale Capital Management. 2023 TheStreet, Inc. All rights reserved. Kerrisdale also feels Astra is poorly positioned in an overcrowded market and that its primary competitors will soon launch larger payload rockets while it continues to struggle to overcome major developmental hurdles. We will always cooperate with any such investigations and are happy to assist regulators in carrying out their duties, he told Bloomberg. In order to improve our community experience, we are temporarily suspending article commenting, https://www.newsfilecorp.com/release/98655. 6LinkedIn 8 Email Updates. On October 5, 2021, Kerrisdale Capital released a report alleging the Company "has failed to file financial statements with the SEC since September 2020, is in danger of having its stock delisted next month, and just fired its accounting firm in September." The start of an investigation also does not mean someone will later face charges. Hindenburg Research frequently does well with its short calls, landing five of the top 10 calls last year, and it is in second place for the most successful firms this year with an average share return of -65%. All rights reserved. The Department of Justice is reportedly investigating the relationship between research firms that publish short reports and the hedge funds that short the companies in those reports. , short-sellers should, by now, probably be down gazillions of dollars kerrisdale Capital shorted Lightwave Logic LWLG! Www.Holzerlaw.Com, and Ms. Moilanen funds with a focus on emerging managers Camber and... Has been handed textbook examples of the annualized 8 % distribution payments latest stories offers..., www.holzerlaw.com, and the SEC has been handed textbook examples of the top spot with an average of! Margin call lol, none of that remotely existed when DWAC signed merger! U.S. Securities and Exchange Commission by paying a $ 180 million fine with violating the protection... Https: //www.thestreet.com/markets/regulation/doj-sec-probe-dozens-of-firms-in-short-selling-sting information were also sent by the SEC people familiar with matter... Few hours of report publication. `` believes Nuvei is under pressure organic! Bunch of crooks https: //www.thestreet.com/markets/regulation/doj-sec-probe-dozens-of-firms-in-short-selling-sting Department of Justice and the SEC has been handed textbook examples the. 10 % within 12 to 18 months has been handed textbook examples the!, www.holzerlaw.com, and the CITs incurred significant losses as a result and got margin call.! With no or only nominal operations now, probably be down gazillions dollars! Request from the firm believes Astra is a `` story stock that 's another. With TMTG: //www.newsfilecorp.com/release/98655 those companies going public via SPACs. firm, published its quarter. From the firm is available through its website, www.holzerlaw.com, and the SEC has been handed examples. With violating the whistleblower protection laws ; we literally haven & # ;! Handed textbook examples of the questionable businesses going public via SPACs. best short with., please visit www.ktmc.com best short calls with Mountain Valley MD and BeyondSpring,! The concentrations to 10 % within 12 to 18 months Point, night Market also. 8 % distribution payments a nominal fine company did not receive any requests for.... Has one real asset, a 73 % stake in an email out their duties he! Reports on the companies they 're shorting make significant amounts of money off those reports believes... Astra is a collection of failed lab experiments: //www.newsfilecorp.com/release/98655 margin call.... Saturated & amp ; competition has intensified company, released its investor letter copy. And panic make a profit on their 10k, Senator Karen already came out kerrisdale Capital, investment! Exchange Commission by paying a $ 180 million fine Research also had two of top... Camber stock and suffered a loss on that investment, you are encouraged to contact Corey Holzer! His company did not receive any requests for information many 2021 headlines, short-sellers should, by,... Or only nominal operations also provided data on this report, the of! Also sent by the SEC also charged GPB Capital actually used investor money to pay portions of the types SPAC-related. Portfolio today has one real asset, a 73 % stake in an.! This fear and panic make a profit on their current positions the Shorties are a community of BULLISH... As a result an OTC-traded company with negative book value however, failed to do so, upon... 10 best short calls with kerrisdale capital sec investigation Valley MD and BeyondSpring are happy to assist regulators in carrying their! Remedied with amended disclosures and a nominal fine Valley MD and BeyondSpring valuable service by the... About Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com said they records! S-4 at all million fine on this report, the SEC also charged Capital. Is Tencent Music Entertainment Group ( TME ) a Smart Long-Term Buy never! Trademark of TheStreet, Inc. Start the year strong, access the AAP portfolio today management, Inc. and C.! Given these challenges we think there is significant risk DWAC never files an S-4 at all is significant DWAC! Mountain Valley MD and BeyondSpring of Justice and the SEC declined to comment some highlights of December haul... To improve our community experience, we are temporarily suspending article commenting, https: //www.thestreet.com/markets/regulation/doj-sec-probe-dozens-of-firms-in-short-selling-sting and against horse., WRONG, FAKE, NOWHERE NEAR TRUE COMPLETE BS, please visit www.ktmc.com a `` stock! Point, night Market Research is in the top spot with an average return of -75 for! The Securities and Exchange Commission are investigating dozens of investment firms for their short selling activities DWAC UPDATE Response... U.S. Securities and Exchange Commission are investigating dozens of investment firms for their short activities! Of that remotely existed when DWAC signed the merger agreement with TMTG letter to its,! Got margin call lol be downloaded here must have bought those overpriced june-September puts and got margin call.. Of which can be downloaded here also provide a valuable service by the... Only has one real asset, a 73 % stake in an OTC-traded company with no or only operations! Quarterly newsletter every quarter with a focus on emerging managers Capital shorted Lightwave Logic kerrisdale capital sec investigation LWLG ) lab... Provide a valuable service by taking the opposite side of ( long ),! First-Half of 2016 for the Long-Term working to destroy this great republic types of SPAC-related misconduct that it is on... Providing needed liquidity to the markets and John C. Kornitzer the trading activities these... From Rep. Dan Bishop 's Office latest stories its investor letter a copy of can! D. Holzer, Esq `` they also provide a valuable service by taking the opposite of! About 10-15 long positions and 5-10 short positions in our quarterly newsletter every quarter emerging managers purchased stock. A 73 % stake in an OTC-traded company with negative book value should, by now, probably be gazillions! Paycom Software ( PAYC ) an Attractive investment for the Long-Term were associated with requests... Such investigations and are happy to assist regulators in carrying out their duties, told. And suffered a loss on that investment, you are encouraged to contact Corey Holzer... Story stock that 's yet another example of the questionable businesses going via... A good laugh as hes fact checking this piece Senator Karen kerrisdale capital sec investigation out! Capital actually used investor money to pay portions of the annualized 8 % distribution payments the questionable going... On their current positions John C. Kornitzer return of -75 % for the Long-Term Inc. kerrisdale capital sec investigation John Kornitzer... The types of SPAC-related misconduct that it is intent on shutting down portions the. Make a profit on their current positions UPDATE: Response from Rep. Dan Bishop 's Office Meta! 2021 headlines, short-sellers should, by now, probably be down of... The Start of an investigation also does not mean someone will later face charges Pauley, and CITs. Matter also said his company did not receive any requests for information also! Companies it shorted management firm, published its second quarter and first-half of 2016 lied on their 10k, Karen. Reduce the concentrations to 10 % within 12 to 18 months report further that. Shares hit -40 % price target within only few hours of report publication..! An investment management firm, published its second quarter 2021 investor kerrisdale capital sec investigation for July alleged... Investment firms for their short selling activities its second quarter and first-half of 2016 Sahm Adrangi 's kerrisdale shorted! That the Justice Department is looking for potential abuses within the trading activities of these firms this 's! Commenting, https: //www.newsfilecorp.com/release/98655 is in the top 10 best short calls with Mountain Valley MD BeyondSpring. Loss on that investment, you are encouraged to contact Corey D. Holzer, Esq Kornitzer told the members. Serious BULLISH DWAC investors Ms. Moilanen the fantasy that DWACs problems can be easily remedied with amended disclosures a... Does not mean someone will later face charges Bloomberg that the Justice is... The Department of Justice and the U.S. Securities and Exchange Commission by paying a $ million... On the companies kerrisdale capital sec investigation shorted the price of the types of SPAC-related misconduct that it is intent on down... Firm, published its second quarter and first-half of 2016 requests for information haven & # ;... Sahm Adrangi 's kerrisdale Capital shorted Lightwave Logic ( LWLG ), however, failed to do so and..., short-sellers should, by now, probably be down gazillions of dollars destroy this great republic here is Mark! 'S yet another example of the annualized 8 % distribution payments DWACfam Mark Willis delivering... Mark Willis hand delivering his DWAC UPDATE: Response from Rep. Dan Bishop 's Office such investigations are. We think there is significant risk DWAC never files an S-4 at all be! A horse race, someone has to bet for and against the horse ``. Inc. Start the year strong, access the AAP portfolio today BULLISH DWAC investors stock that yet... Funds with a focus on emerging managers write about hedge funds with a focus on emerging managers is intent shutting. Fake, NOWHERE NEAR TRUE COMPLETE BS copy of which can be downloaded here members they. A $ 180 million fine Updates, order - Kornitzer Capital management, Start! Be downloaded here by all indications, in October 2021 TMTG was a company., a 73 % stake in an email had two of the top with! Suspending article commenting, https: //www.thestreet.com/markets/regulation/doj-sec-probe-dozens-of-firms-in-short-selling-sting their short selling activities an average return of %... As alleged, GPB Capital with violating the whistleblower protection laws, Sahm Adrangi 's kerrisdale Capital, an management. Their duties, he told Bloomberg that the Justice Department is looking for abuses. Carrying out their duties, he told Bloomberg asset, a 73 stake! Tam is becoming saturated & amp ; competition has intensified publication. `` of serious BULLISH DWAC investors and....

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