Monday, 20 October 2014
Last updated 7 min ago
Nov 13 2007 | 11:58am ET
It took more than two years, but the hedge fund sued by Overstock.com has finally countersued.
Larkspur, Calif.-based Copper River Partners, accused by Overstock of being part of a wide-ranging conspiracy to drive down its stock price, returned fire, alleging that the online retailer used a campaign of misinformation and fudged accounting to jack up its share price.
In addition, Copper River—the former Rocker Partners—accuses Overstock of a “campaign of menace” using short squeezes to distract investors from its poor performance.
The hedge fund says Overstock altered its accounting system to allow it to claim a big jump in revenues, though there was allegedly no corresponding spike in business activity. It also accuses Overstock CEO Patrick Byrne of publicly downplaying the company’s need for capital.
Overstock said there is nothing to Copper River’s claims.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...