Friday, 22 August 2014
Last updated 3 hours ago
Oct 15 2007 | 3:18pm ET
The Securities and Exchange Commission has charged a New York hedge fund with illegal naked short sales.
Colonial Investment Management and its principal, Cary Brody, allegedly used shares purchased in at least 18 registered public offerings to cover short positions, including one involving Legg Mason shares. The alleged malfeasance took place between 2001 and 2004, when it was illegal to cover shorts during the five days prior to offer pricing with securities bought in the offering.
The SEC, which filed its complaint in Manhattan federal court, alleges that the hedge fund, Colonial Fund, made $1.48 million in ill-gotten profits from the illicit naked shorts.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note