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Court Of Appeal’s Long Opinion On Short Selling

In a lengthy opinion issued yesterday, Justice Kathleen M. Banke explains naked short selling, describes the mechanics of executing and clearing stock trades, provides a run down on the SEC’s Regulation SHO, and recounts the SEC’s enforcement of Regulation SHO. v. Goldman Sachs & Co. (Cal. Ct. App. Case No. A135682, Nov. 13, 2014). Along the way she…

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Did The FBI Violate The CSL?

Earlier this week, the Securities and Exchange Commission announced that it had charged a penny stock promoter in the San Diego area with fraudulently arranging the purchase of $2.5 million worth of shares in a penny stock company in an attempt to generate the false appearance of market interest and induce other investors to purchase the stock.   According to…

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