The stories behind the Rocker and Gradient lawsuit story

    Today, short-selling hedge fund Rocker Partners paid Overstock.com (NASDAQ:OSTK) $5-million to settle the lawsuit filed against them in August of 2005. Rocker Partners also entirely dropped its own countersuit.

    Overstock.com CEO Patrick Byrne is a frequent contributor to DeepCapture.com.

    This is a major victory, not only for Patrick and Overstock.com, but for all public companies targeted by bear raiding hedge funds.

    But thanks to the unusually skewed reporting surrounding it, chances are you either hadn’t heard about the suit, or were under the impression it was frivolous and certain to fail.

    This presentation explains part of the story behind the coverage of the suit, using some innovative methods to explain why what you heard about the suit and its merits likely had little in common with the reality of it.

    As promised in the video, researchers are encouraged to find additional links within the Facebook friend lists of the short-selling hedge funds and journalists and bloggers who love them. To make the process easier, I’ve compiled this spreadsheet. If you discover anything interesting, particularly with respect to the hedge funds and reporters linked to other bear raid targets, please write about your findings it in the comment section below.

    Also, very shortly I’ll be adding an interactive, dynamic relationship browser to this post, which will make it easy for you to visualize these networks.

    This post was written by:

    - who has written 103 posts on Deep Capture.


    Contact the author

    139 Responses to “The stories behind the Rocker and Gradient lawsuit story”

    1. Dick Keane says:

      Secret Software & Naked Short Selling
      We need NSS arrests – not Insider Trading arrests
      It is November 5th, 2009 at high noon and the SEC is all over the news about another arrest. They are all on stage giving this big press conference on 14 arrests for Insider Trading connected to the Galleon Group investigation. Is it Insider Trading? The Government wanted the world to believe this caused the financial meltdown on Wall Street. Three weeks earlier the SEC made the first arrest for Insider Trading involving Raj Rajaratnam and 5 other people on Wall Street.
      It is my opinion that the Government and the SEC is involved in a cover up to try and make people think that it was insider trading that caused the crisis of 2008. Let the truth be known. The news media, along with Goldman Sachs and many other Wall Street companies and people of power are all involved in the biggest cover up in the history of the United States. It involves greed to the fullest extend. The SEC is responsible, under the leadership of Christopher Cox in July 2007, the Securities Exchange Commission abolished the Up Tick rule. The elimination of the Up Tick rule created a wave of corruption that grew out of control, based on Naked Short Selling and the use of secret software and super fast computers.
      Insider trading has played a role in the financial crisis, yet the story not being told by the news media is the arrest of a Goldman Sachs employee who tried to steal Goldman Sachs secret software. This arrest came over the July 4th Holiday week-end and was aired briefly on a Saturday night on TV and then came Monday July 6th, 2009 and the story disapeared. A few weeks later Goldman Sachs reported its FY 2009 2nd QT earnings ( April – May -June ) and Goldman Sachs made over $100 million dollars a day in 46 of the 64 trading days for that quarter. How could this be possible after a 17 month recession. Wall Street changed two major Laws. The first being the use of decimal places (2001 )instead of fraction. Years later and after they lobbied for the removal of the Up Tick rule ( 2007 ) the secret software was designed and in place ready to go into full operation now that Wall Street was allowed to naked short sell millions upon millions of shares that Goldman Sachs and other hedge funds didn’t even own and failed to deliver. Their greed took over, who wouldn’t , when Goldman Sachs was making over $100 million a day in trading. They destroyed companies like Sirius XM radio and overstock.com and many others. Then they began naked shorting the banking industry and attacking each other.
      This is the truth that the news media, corporate Amercia, the SEC, the Government, Goldman Sachs, Hank Paulson and the many others that were in power have not told the American people and the world. Now, as I write this letter, they are now trying to con the world into thinking it was insider trading that caused 95% of the middle class workers to lose 20% – 60 % of their investments and 401K’s.
      In the end the Entire story will be told and I hope I get my chance to tell it. Check the facts. There was an arrest of that Goldman Sachs employee in July 2009. Why was it covered up? Where are the arrests for Naked Short Selling and Goldman Sachs use of their secret software that stole the wealth off investors all across the country. It will go down as the biggest scandal in history.
      I give you permission to re-print this letter. Please follow up and investigate. This story needs to be told. Please contact me. It is exactly what is taken place.

      Richard Keane
      http://www.SiriusNews.com

      http://www.Twitter.com/stockshockmovie

    2. Dick Keane says:

      Rick Aristottle Munariz of the Motley Fools is paid to mislead investors about Sirius XM Radio. He is part of a news media collusion lead by CNBC and their own Jim Cramer. Jim Cramer’s street.com web site is also hip deep into the collusion. Jim Cramer and his writers, especially Scott Moritz are all part of the scandal and it leads upward to CNBC/GE executives and Goldman Sachs. Thank god their is now an investigation taking place with Goldman Sachs. Goldman Sachs was investigated and 10 firms, including Goldman Sachs were fined $1.4 Billion dollars in 2003. Now the full blown investigation by Boston’s Chief Financial Regulator William Galvin will reveal the corruption of Goldman Sachs again and I can only hope that William Galvin will follow the money trail and check the bank accounts of Rick Aristottle Munariz of the Motley Fools along with Scott Moritz of the Street.com Just check these 2 writers banking accounts and the investigation will reveal that they are being paid off to write mis-leading stories about Sirius XM Radio. The money trail from these 2 writers will lead to >>> Motley Fools >>> Street.com >>> Jim Cramer >>> CNBC >>> GE / CNBC executives >>> NAB >>> Goldman Sachs.
      It has all been a news media collusion along with the combination of Wall Street corruption by Goldman Sachs to destroy Sirius XM Radio inc. by naked short selling, flash trading, superfast computers, using secret software to manipulate the Sirius XM Stock price in decimal places the past few years since the Siri /XM merger was announce in Jan 2007. It was a pact agreed to by the news media and Goldman Sachs, which is why CNBC keeps reporting positive story after positive story about Goldman Sachs. All are into this collusion knee deep and this is why they will not report Goldman Sachs and their biggest scandal in the history of Wall Street.
      Goldman Sachs got greedy. The scandal with Sirius XM Radio, worked so well with their secret software that was making them millions of dollars a day. Well, their Greed expanded into not just naked shorting & decimal place trading Sirius XM radio, but Goldman Sachs, next said , heck this secret software works so well, along with CNBC’s cover up lets do it to our competition the banking industry. Goldman Sachs next used these tactics on the banking industry in 2008 – 2009. They have been protected by CNBC by paying CNBC millions of dollars a month in advertising or shall we say paid protection.
      Goldman Sachs greed almost ruined this country when they began using naked shorting and their secret software to attack the banks. It was their Greed of making millions using this software attacking Sirius XM Radio and when they expanded their scandal to the banking industry, they were now making over $100 million dollars a day. This is a fact, as Goldman Sachs made over $100 million dollars a day in 46 of 64 trading days last Quarter 2009 ( April , May, June 2009 ).
      CNBC is part of the scandal, taking in million a months from Goldman Sachs for their silence. Why wouldn’t Goldman Sachs pay CNBC millions of month, that was nothing to them, since they are making over $100 million dollars a day. They helped CNBC try to ruin the competition ( Siri ) and now CNBC will help them ruin the other Banks. A true partnership by Goldman Sachs & CNBC.
      The scandal lives on today, but thankfully the investigation by William Galvin will be expanded into the news media collusion of CNBC, Motley Fools & Street.com along with many other news media types.
      Their Greed and goals have cost the average investors of the World hundreds of billions of dollars the past few years. In the end the truth is going to come out, but how does the people of the World hear the truth when the news media is part of the Scandal.
      Well, a few years ago, CNBC & Goldman Sachs would have gotten away with it, but thank you http://www.Satwaves.com , http://www.twitter.com/stockshockmovie and the many social media outlets and bloggers out there. Thank you for helping bring the truth to the World. Each day we get closer and closer to the biggest scandal in the history of the United States. ( Written by Richard Keane – August 30th, 2009 )

      http://www.Stockshockmovie.com

      http://www.SiriusNews.com

      http://www.Twitter.com/StockShockmovie

    3. hangthemall says:

      GREAT JOB,, i will get more rope

    4. MTF says:

      This is almost too incredible to believe. Yes!! Patrick Byrne does a fantastic job explaining short selling in the movie “Stock Shock-The Short Selling of the American Dream.” Amazon has the DVD or http://www.stockshockmovie.com has it for less $$.

    5. mhelburn says:

      Congratulations to all… Thanks to the late, great John O’Quinn and the other law firms who were fighting this battle before Overstock stood up to WS.

      Judd, thanks for being the documentarian for this. Wonder if the SEC will let this just be another of their failures to enforce?

    6. Sarge says:

      Another great video Judd. Glad to hear about the lawsuit being settled too, guess all that smack talk coming from the camp at Rocker Partners amounted to nothing more than a senseless waste of perfectly breathable oxygen, huh?

    7. John Wicks says:

      the discovery would have been worth so much more than the $5 million

      • n-tres-ted says:

        The discovery process in this case was already completed, and the information gained is in the possession of OSTK and its lawyers.

    8. Fred says:

      John

      Yes I would have preferred to see what would turn up in discovery. But we just don’t know the facts surrounding the settlement. There could be reasons we are not aware of.

    9. Lenofus says:

      What hubris these guys exhibit. If the internet existed in the twenties and thirties, would you see Meyer Lansky linked to Lucky Luciano on Flapper? They’re crooked, and so confident of their protectors, they flaunt associations.

      Fine. I sent the video where it will do some good.

    10. Anonymous says:

      Judd, small spelling mistaked “conspired” spelled wrong when Herb the talking head was talking at SABEW.

      Great, great, video. I’d love to read the lawsuit filing and evidence if the case is completely settled.

      You could almost create another site full of evidence and suggestions for other companies looking to fight a similar battle against Wallstreet.

      OSTK and this site are trailblazers and have made a difference.

      • Judd Bagley says:

        Thank you very much for catching the typo. I’m in major video production burn-out mode right now, so I think I’ll put off fixing it until tomorrow. I also really like your idea about creating a resource for helping other companies fighting the same battle. But much more thought about that, too, will need to wait until the morning.

        • Anonymous says:

          The mainstream press may not give you credit, but you are heroes among us little people. I hope you understand that the kudos you aren’t receiving are in the thoughts of many appreciative investors around the world that appreciate someone that fights against injustice even though it hurts themselves with little personal benefit.

          The trail you are blazing may be heavily followed in the future as for every Patrick, there are a few dozen dozen companies and investor groups that don’t know how to fight back.

          Maybe you should set up a non profit litigation organization. Take 50% of any settlement to put towards non profit education and anti counterfeiting legislation and help companies find detectives and legal firms to work on contingency to fight back.

          Most companies wouldn’t be looking for cash. They’d be looking for justice.

          It can become a cookie cutter where the same miscreants keep writing settlement checks in case after case and the money goes to educate us little investors that fund those mutual and hedge funds.

          I’m a big fan of chasing what works. Writing to congress and the SEC doesn’t work. Suing the b’stards seems to work just fine.

    11. sean says:

      To big to fail is now passe.. here is the new mantra “Too big to Punish”

      http://www.mcclatchydc.com/227/story/80277.html

      Judd, plausible deniability is way to far out of reach..some of these clowns must and will go down, by hook or by crook!!(No pun intended) Great stuff!!

    12. Anonymous says:

      The great John O’Quinn is taken from us, and then Patrick Byrne settles. 2+2 does not equal 4. Patrick we deserve to know the reason why you settled, since we have all been fighting this together

      • Anonymous says:

        I’ve been in enough litigation to know Patrick did the exact right thing.

        - he won the case
        - he received cash
        - he didn’t sign a confidentiality agreement

        You can be absolutely right and still lose litigation. Every other company to sue has lost on a technicality.

        He can cookie cutter this victory for dozens of other companies until the miscreants are forced to disgorge their profits to a new non profit group, dedicated to helping investors and companies sue the scammers.

        The big victory would be to sue the DTC into actually OWNING the shares it claims to have in CUSTODY because the DTC is in BREECH OF TRUST if it can’t back every share that us little people think we own.

        They play a game where they pretend the clearing broker is their client and beneficial owner, but a jury knows that the beneficial owner of any share is the person that wrote the check.

        America is sick and tired of naked shorting of the WALLSTREET FAKE.

        Whether it is tungsten plated with gold

        http://www.marketoracle.co.uk/Article14996.html

        to avoid being squeezed on physical delivery of gold

        or foreclosures on innocent homeowners where their loan document backed dozens of fake bonds sold as AAA to Iceland, we want to get back to REAL COMMERCE where Wallstreet doesn’t drag us into a great depression so they can get the last BONUS check.

        I’m in favor of mass arrests and incarceration to go with the civil settlement to OSTK.

    13. sean says:

      Just sayin…if these were the consequences faced there would be no need for a site such as this now would there?

      China executes rogue trader, millions still missing

      EIJING, Dec. 8, 2009 (Reuters) — China on Tuesday executed a former securities trader for embezzlement, the first person in the industry to be put to death, but millions of yuan are still missing, a state newspaper said.
      Yang Yanming was sentenced to death in late 2005 and took the secret of the whereabouts of 65 million yuan ($9.52 million) of the misappropriated funds to his grave, the Beijing Evening News said.

      The report added that Yang was the first person working in China’s securities sector to be executed.

      “Preserve your moral integrity and don’t set too much store by business results,” Yang told the newspaper before the sentence was carried out.

      He was the general manager of the Beijing securities trading department of the China Great Wall Trust and Investment Corp., which became Galaxy Securities, from 1997 to 2003.

      Conscious that the growing gap between rich and poor could generate resentment, China is battling corruption and stock trading abuses. It has used the death penalty as a deterrent in serious cases

      http://www.newsdaily.com/stories/tre5b71vc-us-china-execution/

    14. Anonymous says:

      Judd, will you provide us with an in depth reason for why Patrick settled?

    15. Wolf says:

      Congratulations! And Godspeed!

    16. Tar_&_Feather_Them says:

      Great job… you really tarred and feathered the bastards!

    17. Golden Goose says:

      Lets not forget Adam Freustein of the TSCM= The Scam.. He has written 15 negative articles against CVM to help his naked short buddies who are short 200 million shares of CVM..Another paid off reporter a real slime with Goldman and the rest of Cramers Crooks…

    18. iStandUp says:

      Thank you Judd – excellent!

    19. Anonymous says:

      We need to know why Patrick settled. All of us have been in this battle for years

      • Patchie says:

        Anonymous, I must have missed something in your “All of Us”. We all know that Patrick has been in this fight in person and in finance for years because we see him put his name out in the open for all to see, challenge, and ridicule. With you repeatedly calling him out for answers without having the courage to sign your name speaks volumes.

        I am grateful to Patrick and his team for sticking with this throughout the years and through all the criticism. I do not need, nor am I entitled to, a reason why he chose this course he chose because it was his right and his decision. I would request that if you want to continue to repeat this request, you at least have the courage to properly identify yourself and maybe even explain what level of fight you participated.

        FWIW, sometimes the smallest of victories leave the biggest of impacts. Wars are won and lost based on the results of some of the smallest battles that have the biggest impacts on future actions. It was not the monetary wins against gradient and rocker that counts, it was the legal win and affirmations that come with them. neither were deep pockets, those comes later.

    20. Fred says:

      Actually, $5 million is not much considering the legal fees Overstock will need to pay. Note that the press release does not say Overstock’s legal fees are paid Rocker. It’s a moral victory, for sure, but the discovery would be worth more, especially if they were to uncover evidence of criminal activity which would lead to undictments.

    21. iStandUp says:

      Here is a link to the CORRECTED CNN MOney story about this story along with a LETTER from Patrick Byrne issued as a press release:

      http://money.cnn.com/news/newsfeeds/articles/prnewswire/LA23196.htm

    22. iStandUp says:

      It is very interesting to NOTE what news organizations (most of them?) are NOT reporting this story by going to Google News:

      http://news.google.com/news/search?aq=0z&pz=1&cf=all&ned=us&hl=en&q=overstock.com&oq=oversto

    23. sean says:

      People are going to jail!!!

      CNBC and Ted Kaufman
      http://www.cnbc.com/id/15840232?video=1354169726&play=1

    24. Blackbart says:

      Where are the CRIMINAL indictments for this shady network of corruption and stealing? Is anyone awake at the DOJ and SEC?

    25. Anonymous says:

      We went from this on 10/29:

      (He is commenting on the death of the great John O’Quinn)

      Jonathan Johnson, President of Overstock.com, noted: “This sad news today does not change the landscape of our prosecution of these cases. The company continues to be well represented and we are looking forward to our day in court.”

      To Patrick settling one month later…

      • Patchie says:

        Anonymous, you don’t read very well do you? O’Quinn was jumping on a plane for a settlement hearing. As for day in court, there is one case remaining open and THAT is the big one.

        • Sarge says:

          I have to seriously agree with Patchie here, the meat and potatoes of all of this was never really in the case against Rocker Partners. The case against Rocker and Gradient being settled amounts to a serious win for Overstock.com, but what the rest of us really want to see is how the big one turns out (the one against Merrill Lynch, Goldman Sachs, et al.). So lets congratulate Patrick on a well deserved victory and move on, the opening band has finished, now its time to settle in and see how the headline act performs.

      • Sara says:

        Sara,I have question.My hair color is dark brown/black. I want to dye my hair into dark red / bugrundy. I don’t want to bleaching my hair.I want to use permanent dye. I live in Indonesia. Commonly available brands are L’oreal and Garnier. Do you have any suggestions, what color suit me? And which products are right for me and should I use?I also want to have a few streaks/highlights in my hair with bright colors. Such as blonde, or whatever fits.I don’t know if it matters, but my skin is yellow Asia. So it might be to adjust the color of my hair.Thank you so much

    26. Anonymous says:

      Patrick, with out a question, is one of the greatest Americans this decade. His work brought the key issues to the forefront and helped save the financial system. We are all indebted to Patrick.

      The sad part of Patrick’s work, is the people he had to expose to save the financial system will never forget, and so we must show Patrick the respect he deserves as he rides into the sunset

    27. Jim Hall says:

      I knew Savitz was crooked when I saw his Barron’s bullshit regarding how Apple was going to fail all last year.

      Where he got his ‘analysts’ only God knows.

    28. Feedchipper says:

      Wow! Congratulations to Patrick on this important victory and thanks to Judd for bringing the story to us. Sometimes the good guys win after all.

    29. sean says:

      Whatever happened to all the piles of mony and barrels of ink of these miscreants? Anybody know? LOL!!

      P.S. Dave Patch excellent response to Anonymous!!!

    30. harveywalbinger says:

      Tenacity demonstrated. And clever use of social media (yet again). You got mad skillz Judd. It’s really not fair. You should have to play with one hand tied behind your back. lol.

      Seriously these relationships you’ve now VERIFIED should go a long way to proving the RICO case. These crooks, like most crooks, really aren’t that bright upon closer examination. Or perhaps they just grew complacent after years of pillaging to no account. Seems the bear raid became just another day at the office.

      Taken at it’s full wieght, I can’t imagine a scenario in which the evidence you have produced does not ensure that several hedgies & “journalists” do time. Awesome work.

    31. Blackbart says:

      Place the 5 million dollars extracted from these thieves into a tax-free organization that willl lobby , hold investigations, PR, and get media attention until these thugs and their fellow co-conspirators(David Rocker, Marc Cohodes, and their complicit cronies) go to jail for a very, very long time like Madoff. Get ‘em Patrick! Your shareholders deserve real justice!

    32. Jim Hall says:

      Goldman and Blankfein lying through their teeth in a sophomoric term paper on how retail investors are so EMPOWERED today:

      http://www.sec.gov/comments/s7-21-09/s72109-53.pdf

    33. Jim Hall says:

      FINRA and Schapiro with their hand in the cookie jar:

      The Street Sweeper
      Regulators Plead Poverty
      Bill Singer, 12.08.09, 04:00 PM EST
      Wall Street’s cops want bonuses too.

      Bill Singer

      Let me take you back to the doom-and-gloom days of December 2008, when the world’s financial markets were crashing amid fears of a global economic meltdown. The Dow Jones Industrial Average was trading in the 8,000s but was heading into the 6,000s by March 2009. Talk about panic mode.

      On Dec. 3, 2008, I wrote a blog titled: SEC Open Letter: Don’t Lay Off, Don’t Cost Cut. That story was prompted by former SEC Chairman Christopher Cox’s November 2008 warnings to Wall Street that imposing cost-cutting on compliance would likely result in violations. In ominous language, Cox said, “There will be no favor granted because a company made a cost-cutting decision to minimize their compliance budget. That’s because now and always, the interests of investors are inextricably linked to strong compliance.”

      Article Controls

      EMAIL
      PRINT
      REPRINT
      NEWSLETTER
      COMMENTS
      SHARE
      YAHOO! BUZZ

      Follow Intelligent Investing On Twitter.

      Sign Up For The Daily Intelligent Investing Newsletter.

      On the heels of Chairman Cox’s tough talk, the SEC issued an open letter on Dec. 2, 2008, to the CEOs of public firms, which contained this observation: “While many firms are considering reductions and cost-cutting measures, we remind you of your firm’s legal obligation to maintain an adequate compliance program reasonably designed to achieve compliance with the law.”

      Such high-minded, flowery talk always plays well, and in those dark days, well, there wasn’t much that the regulatory community was doing besides talking the talk. While it may have been a better idea for Wall Street’s cops to have done something approximating their job for the prior decade, by year-end 2008 it was all too little, too late. By then, all the supposed watchdogs were trying to shift the blame to a predecessor or claim that they had done the best they could. As is too often the case, the chorus was a rising swell of “not my fault.”

      INTELLIGENT INVESTING

      Videos
      Artisan Funds Know Value
      Up With Dark Pools And Flash Orders!
      Bulls And Bears Butt Head
      Buy Up Student Housing
      Features
      OWNing Oprah
      Buy Big Defense
      Avoid Reverse Mortgages
      Winter Heat
      Rate This Story
      Your Rating
      Overall Rating
      Reader Comments
      Post a Comment
      In the midst of the finger pointing, the Financial Industry Regulatory Authority (FINRA) announced something that was just so bizarre that it still ranks among the more bone-headed actions of those dark days. In late November 2008, in the face of all the SEC’s apoplexy about compliance staffing levels and budgets, FINRA asked 300 of its senior staff (about 10% of its staff) to take voluntary early retirement. In commenting on FINRA’s cost cutting, I called it pretty much as I saw it: “Some might see hypocrisy in the comments and conduct of our market regulators. Some might see yet more examples of the historic mentality of do-as-I-say-not-as-I-do. Others might see the unending exasperation of regulators who continue to step on each others’ toes while comically regulating (or failing to do so) with all the apparent efficiency of the Keystone Kops.”

      Frankly, for all my vitriolic sarcasm, I was truly puzzled by FINRA’s proposal–not just because it was a public relations nightmare for then-CEO Mary Schapiro, but because it seemed idiotic to cripple the organization by getting rid of its most veteran regulators when their expertise was most needed. Of course, there was that other nagging question: How could the self described “independent regulatory organization empowered by the federal government to ensure that America’s 90 million investors are protected,” lack sufficient funding to, well, you know . . . protect those 90 million investors?

      If you go here and here you can take a look at an unofficial FINRA salary survey. A rough guesstimate is that average regulatory salaries at FINRA seem to be about $80,000 to $100,000, give or take. Let’s just guess that more veteran regulators earn about $120,000 a year–of course, we’re talking about the grunts who actually do the work, not the senior executives who delegate but get the glory. So what was the cost to FINRA of chopping off some 300 senior salaries? Well, just using my best guess, let’s say about $30 million. Quite a savings. But was it a false one–and at what hidden cost?

      The Investment News just ran a very disturbing investigative report titled: FINRA execs pocketed millions in ’08, while SRO was in the red: 13 current or former regulators made more than $1 million, tax returns say; Former chief administrative officer Michael D. Jones made $4.4 million. The article states that in 2008, when FINRA lost $696.3 million, it spent some $13 million on salaries for just 13 of its heavy hitters. Two things got my attention: One, how the hell does a regulator lose $696 million; and, two, 13 regulators each earned at least $1 million in a year when life as we knew it ended on Wall Street? Among the more troubling findings were that, “SEC Chairman Mary Schapiro, who received $3.3 million last year as FINRA’s chief executive officer, is paid $162,900 to run the government agency. Earlier this year, she received another $7.2 million from FINRA as part of her accumulated retirement-plan benefits.”

      It has gotten even more bizarre. Amid opulent pay packages, over-the-top buyouts and downright questionable management of funds, FINRA has reportedly set aside $1 million for lobbying efforts on Capitol Hill. (FINRA to Shell Out $1 Million in Lobbying Efforts) What’s $1 million worth these days to a regulator? How about one senior executive’s annual compensation–or perhaps an entire year’s salary for a dozen or so of the hardworking men and women who do the nuts and bolts of regulation. I’m sure there are those who will justify FINRA’s million dollar lobbying–of course, there are always such apologists.

      The regulators plead poverty to the investing public and Congress, but they are awash in luxurious pay packages. We are warned that regulators are grossly underfunded. Taxes must be increased. Fees raised. Services cut. Meanwhile, can anyone break a million dollar bill?

      Bill Singer of RRBDLaw.com and BrokeAndBroker.com is a veteran regulatory lawyer; an outspoken critic of ineffective regulation; and a staunch advocate for the rights of smaller firms, individual registered persons and defrauded investors. Bill regularly appears as a commentator on television and radio, and is frequently quoted in the press.

      • harveywalbinger says:

        Yawn. I’m certain Judd, Mark, & Pat are just soooo intimidated by the completely absurd hint, innuendo, word suggestion game… going on over in bizarro world that a RICO case could be made against OSTK. I know I’m on the edge of my seat every time that Weisenheimer “journalist” writes something… Sometimes I’ll print a copy (if I’m running low on TP). A classic technique of a skilled liar is to go on the offensive & accuse someone else of what you yourself are guilty of. Ummmmm. Sure sounds alot like another Sammy boy play to me.

        http://www.audioenglish.net/dictionary/weisenheimer.htm

        • Jim Hall says:

          I’ve been calling this a incipient RICO case for some time now.

          Obviously, Antar and cabal feel suddenly vulnerable.

    34. iStandUp says:

      Interesting Link you supplied Anonymous…
      — a short article written by Joe Weisenthal, whose name appears on the spreadsheet of names Judd put together (See link in Judd’s article above):

      Did Patrick Byrne Hack Into Private Facebook Pages As Part Of His Journalist Intimidation Scheme?

      Joe Weisenthal|Dec. 10, 2009, 1:31 PM | 674 |comment4
      Tags: Money Media, Overstock, Scandals sam antar

      Earlier we mentioned how Overstock’s (OSTK) Patrick Byrne had produced a page of journalists he didn’t like, along with each one of their Facebook friends.

      The common thread among the journalists is that they’re skeptical of his naked short selling conspiracy theories.

      That alone is a scandal.

      But in addition to just scraping data, he even managed to get friend lists from people who have their privacy settings at the most strict.

      Gary Weiss cites Sam Antar — the blogger, Byrne critic, and former Crazy Eddie conviced felon — who also had his Facebook friend list exposed.

      At best, Patrick Byrne got one of Antar’s friends to feed him the list. At worst he was hacked.

      • Sarge says:

        hahaha…Every time I read something like this the only picture that comes to mind is of a bunch of cockroaches running from the light, trying to find any cover that they can (I know, lets say that Patrick and Judd got this information illegally, cause then they committed a crime, and we can tell everyone he is a criminal!!! That’s how we’ll play it…). You’ll plainly notice that none of the people commenting on Weisenthal’s story have said anything to deny the significant social connections as have been highlighted in Judd’s short film?

        • Sarge says:

          Oh and Sam E. Antar,

          “Memo to Byrne: I am not afraid of you”

          In response to your quote above:

          “Memo to Sam, I am not afraid of you either.”

    35. RideFree says:

      These guys are thieves, scams and otherwise the filth of our planet. So happy to see Rocker and his gang with hands in face, in the corner, like a small child after being scolded. These guys had to settle a case which the paper and verbal evidence uncovered too much in the way of Rocker’s criminal mind.

    36. iStandUp says:

      Sarge, well said!

      Joe Weisenthal wants people to believe that it is illegal for anyone to find out about his illegal activities. Yes, this is typical and funny.

    37. sean says:

      Sarge, Istand, Memo to Sam “You should be” (very afraid of Patrick et al), because if my calculations are correct “you aint seen nuffin yet.”

      • Sarge says:

        Sean,
        Really though, I have tried to let Mr. Antar know in some previous posts here that he is more than welcome to try to flex his internet muscles on me (like the threats he made online concerning a certain someone’s young children)…this old Army NCO and father of a young child surely would make a much more satisfying target for him, wouldn’t you think?

        You’re dead right though, Mr. Antar and the rest of the “Weiss-keteers” should probably be at least a little bit concerned that with each victory Patrick makes, their credibility goes down the tube just that much more. What happens when Patrick wins the big one? Will Gary Weiss and crew still be able to find work as “respected journalists”? Will any of their credibility remain intact?

        P.S. Mark, if Mr. Antar ever pulls a stunt like that again, take a little comfort in the fact that this grunt has your back.

    38. Jim Hall says:

      Next, Patrick sue the goddamn SEC!

    39. iStandUp says:

      The Reuters story below INCORRECTLY states that “Overstock CEO an outspoken critic of short-sellers”.

      Did the writer of the Reuter’s story below MISTAKENLY leave out the word “NAKED” before “short-sellers”?

      OR did the writer of the Reuter’s story below PURPOSEFULLY leave out the word “NAKED” before “short-sellers”?

      “UPDATE 1-Overstock says it settles with hedge fund
      Tue Dec 8, 2009 6:18pm EST

      * Rocker accused of campaigning to pressure share price
      * Overstock CEO an outspoken critic of short-sellers

      NEW YORK, Dec 8 (Reuters) – A hedge fund is paying $5 million to settle a long-running lawsuit filed by online retailer Overstock.com (OSTK.O), the Salt Lake City-based company said Tuesday.

      The settlement comes some four years after Overstock sued the hedge fund, once known as Rocker Partners, claiming it waged a campaign to drive down the company’s share price. The lawsuit was championed by Overstock CEO Patrick Byrne, who has been an outspoken and controversial critic of short sellers, or traders who bet on a stock’s decline.

      Overstock said in a news release the hedge fund will pay it $5 million to settle the matter. Rocker Partners was then known as Copper River Partners. Copper River closed last December.

      The company said it could not provide a copy of the settlement from the lawsuit, which was filed in California state court. An attorney for the hedge fund was not immediately available for comment. ”

      ( http://www.reuters.com/article/idUSN0821943720091208?type=marketsNews )

      The Reuters’ reporter of this article did NOT sign his/her name.

      Uhmmmmm? Reuters reporter, are you ashamed of this written work of yours? And therefore chose to NOT include your name?

      OK Reuters, you need a CORRECTION 1 article which ADDs the word “naked” before “short sellers” – so that the article states:

      “”Overstock CEO an outspoken critic of “NAKED” short-sellers”. ”

      “The lawsuit was championed by Overstock CEO Patrick Byrne, who has been an outspoken and controversial critic of “NAKED” short sellers, or traders who bet on a stock’s decline “with NAKED or PHAMTOM SHARES”.”"

    40. iStandUp says:

      Patrick interviewed on Satwaves Radio….

      Media’s Sirius XM (SIRI) Agenda Exposed
      Posted on December 11, 2009 Brandon Matthews

      By Brandon Matthews

      In this weeks edition of Satwaves Radio, we were joined by Overstock.com (NASDAQ: OSTK) CEO Patrick Byrne of Deep Capture fame, whom has led the fight against illegal naked short selling. The discussion took a surprise turn as the mainstream media came under fire for its complicity in the act of illegal naked short selling, on the news of Overstock’s settlement with short-selling hedge fund Rocker Partners. A discussion of the “snake oil” tactics of Jim Cramer soon followed, describing the means in which negative news is created with the intent on damaging a stock’s price. These news articles are traded in front of by hedge funds with advanced knowledge of the pending releases.
      ….. continues….

      ( http://satwaves.com/blog/2009/12/11/medias-sirius-xm-siri-agenda-exposed/ )

    41. Billie says:

      Pay close attention to what is developing on the ENZ YAHOO posting board. Fraud is exposed, SEC and NYSE do nothing. Courts appear to have been lied to. Courts do nothing. Where did billions in siphoned dollars run off to? That is the question dating back to 1999 and 2000.

    42. Hi there, all the time i used to check web site
      posts here in the early hours in the daylight, as i like
      to learn more and more.

    43. I think this internet site holds some rattling good information
      for everyone. “Je veux que les paysans mettent la poule au pot tous les dimanches.” by King Henry IV of France.

    44. Money says:

      Quality articles or reviews is the important to be a focus for the users to
      pay a quick visit the web page,that’s what this site is providing.

      Have a look at my homepage Money

    45. Incredible! This blog looks exactly like my old one!
      It’s on a completely different topic but it has pretty much the same page layout and design.
      Superb choice of colors!

    46. Great web site. Lots of useful info here. I’m sending it to a few friends ans also sharing in delicious.
      And obviously, thank you in your effort!

    47. Its like you learn my mind! You seem to grasp a lot about this,
      like you wrote the e book in it or something.
      I feel that you just could do with a few percent to force the message home a little bit, however instead of that,
      that is wonderful blog. An excellent read. I will definitely be back.

      • Sharon says:

        www dot roomvues dot com (crazy y!a won’t let me post the acautl link.You can upload a photo of your house to the makeover gallery and ask them to photoshop it with whatever colors you’re considering.

    48. Carter’s Coupons – In this century of speed we are sure that you don’t have time to visit the stores to buy nice
      clothes to your kids or to make a gift to one of
      your nephews so Carter’s Coupons comes to help
      you to choose online the best clothes for your kids. A wide
      range of products are offered in the online stores as
      well. All coupons listed are valid in stores throughout San Antonio and the U.

    49. I am extremely impressed with your writing skills and also with the layout
      on your weblog. Is this a paid theme or did you modify it yourself?
      Either way keep up the excellent quality writing, it is rare to see a nice blog like
      this one these days.

      Also visit my page – ショルダー 注目 クロエ

    50. homepage says:

      Hello, the whole thing is going well here and ofcourse every one is sharing information, that’s in fact excellent, keep up writing.

    51. I love what you guys are up too. This sort of clever work and coverage!
      Keep up the terrific works guys I’ve included you guys to my own blogroll.

    52. roofer says:

      As an alternative, the old materials used on the roofing are removed.
      Then a surface is washed properly. Just then is the steel
      roofing mounted on the roof.

      Visit my homepage :: roofer

    53. Even today go to Selfridges or John Lewis (where 5hop5.
      The login creation process turned out to be a hassle.
      uk mean not only do you get the best value on this
      innovative tech but you also get it at a hugely
      reduced price and also a huge selection of the highest spec machines.

    54. Thanks on your marvelous posting! I quite enjoyed reading it, you happen to be a
      great author. I will always bookmark your blog and definitely will come
      back sometime soon. I want to encourage you to ultimately continue your great work, have a nice holiday weekend!

    55. guest post says:

      Very good blog! Do you have any suggestions for aspiring writers?
      I’m hoping to start my own website soon but I’m a little lost on everything.
      Would you suggest starting with a free platform like WordPress or
      go for a paid option? There are so many
      options out there that I’m totally confused .. Any ideas?
      Cheers!

    56. Howdy! I just wish to give you a big thumbs
      up for the great information you’ve got here on this post.
      I am returning to your site for more soon.

      my web-site 正規品 ウォーキングシューズ 販売中

    57. Estela says:

      Greetings! Very helpful advice within this post! It’s the little changes which will make the most important changes.
      Many thanks for sharing!

      My web blog; Estela

    58. I’m not sure where you are getting your info, but great topic.
      I needs to spend some time learning much more or understanding
      more. Thanks for great info I was looking for this information for my mission.

      My website コンフォートシューズ 専門店

    59. Pretty nice post. I simply stumbled upon your weblog and wished to
      say that I have truly enjoyed surfing around your blog posts.
      After all I will be subscribing in your feed and I am
      hoping you write again very soon!

    60. Thanks for some other informative blog. Where else could I am getting that type of info written in such a perfect way?
      I’ve a challenge that I am simply now running on, and I have been at
      the look out for such info.

    61. These are genuinely wonderful ideas in on the topic of
      blogging. You have touched some good things here.
      Any way keep up wrinting.

      Feel free to surf to my weblog … zakładanie spółek

    62. Howdy! I know this is kind of off-topic but I needed
      to ask. Does running a well-established website like yours require a large amount of work?
      I’m brand new to operating a blog however I do write in
      my journal everyday. I’d like to start a blog so I will be able to
      share my experience and feelings online. Please let me know if you have any ideas or
      tips for new aspiring bloggers. Appreciate it!

    63. Someone necessarily assist to make significantly articles I’d state.
      That is the very first time I frequented your web page and
      so far? I surprised with the analysis you made to create this particular submit extraordinary.
      Fantastic activity!

    64. Antony says:

      Google Earth is an interactive application that allows users to fly
      the entire globe. Google may consider the so-called anchor text within the link (the word or phrase
      which is linked) and the authority of the website that the link is coming from
      to determine how highly or lowly your website ought to rank.
      As I hoped, the factory reset removed the previous user profile, so now my profile was the only
      one that appeared on the Google Chromebook lock screen.

    65. I’m curious to find out what blog system you’re working with?

      I’m having some minor security problems with my latest website and I’d
      like to find something more risk-free. Do you have any suggestions?

      my blog :: 格安通販 クラッチバッグ 最高級

    66. bathmate says:

      It gives you the option to site and bath or stand and
      bath easily. f bathmate hydropump review this i. are
      adjustable.

    67. Drinking water fasting is be equipped for it.
      The rate of weight loss because you never know how easy it was with the 5:2 Fast Formula.
      It does a really good job – you just need to make sure that you stay hydrated.
      3 more seconds, come on, just don’t look at this.
      Fasting literally means that you eat in low calories is literally like half a whole 5:2
      metoden grain toast with jam, and then we are done and ready to taste.

    68. Hi there friends, how is all, and what you want to say about this
      article, in my view its genuinely remarkable in favor of me.

    69. Hey! I know this is kind of off topic but I was wondering if
      you knew where I could find a captcha plugin for my comment form?
      I’m using the same blog platform as yours and I’m having problems finding one?
      Thanks a lot!

    70. I’m really enjoying the theme/design of your site.
      Do you ever run into any internet browser compatibility issues?
      A handful of my blog readers have complained about my blog not working correctly in Explorer but looks great in Firefox.

      Do you have any advice to help fix this issue?

      Also visit my homepage: Fiston 2014 Telecharger

    71. Every weekend i used to visit this website, for the reason
      that i want enjoyment, as this this website conations truly pleasant funny data too.

    72. I leave a leave a response whenever I appreciate a post on a website or if I have something to contribute to the discussion.
      It is a result of the fire displayed in the post I looked at.
      And on this article The stories behind the Rocker and Gradient lawsuit story | Deep Capture.
      I was actually moved enough to drop a commenta response ;-) I actually do have some questions
      for you if it’s okay. Could it be only me or do some of these responses appear like written by
      brain dead individuals? :-P And, if you are posting at other places, I’d like to keep up with anything fresh you have
      to post. Could you make a list all of all your shared
      sites like your twitter feed, Facebook page or linkedin profile?

    73. I every time emailed this blog post page to all my associates, because if
      like to read it after that my friends will too.

      Feel free to surf to my homepage :: American Bluff Telecharger gratuit

    74. Its like you read my mind! You appear to know a
      lot about this, like you wrote the book in it or something.

      I think that you could do with a few pics to drive the message home a
      bit, but instead of that, this is wonderful blog. An excellent read.
      I will certainly be back.

    75. putrefaction says:

      Thank you for the good writeup. It in fact was a amusement account
      it. Look advanced to far added agreeable from you!
      By the way, how could we communicate?

    76. hello!,I love your writing very a lot! share we communicate extra approximately your article on AOL? I require an expert on this area to resolve my problem. Maybe that is you! Taking a look forward to see you.

    77. At this time it looks like Movable Type is the preferred blogging platform available right
      now. (from what I’ve read) Is that what you are using
      on your blog?

      Feel free to surf to my web blog – L’étrange couleur des larmes de ton corps Telecharger

    78. Each show is different and it really depends on whos booking it and
      for the bigger shows with celebrities and bands they need a lot of lead-time.

      Unfortunately Nora Ephron recently passed away, but she left
      us with some of our most endearing romantic comedies of all time — from “When Harry Met Sally” to “Sleepless in Seattle”
      and “You’ve got Mail. He represented his homeland in four Olympics and is a three-time indoor world champ in the 1500 meters.

    79. One must practice the comic scripts beforehand at home.
      “Arsenio was a big hit way back when, he exited prematurely, and aren’t we all just plain tired with Jay Leno
      and Letterman. Well, it can easily be because the audience has been watching her in
      the TV for the past 6 years, but nevertheless, her
      FACTS are easy to remember and apply to everyone.

    80. I visit daily a few websites and blogs to read articles or reviews, however this web site offers feature based writing.

    81. bewegen says:

      Hi there it’s me, I am also visiting this web site daily, this site is actually fastidious and the viewers are really sharing fastidious
      thoughts.

    82. Ahaa, its good discussion regarding this article
      here at this webpage, I have read all that, so at this
      time me also commenting at this place.

    83. You really make it seem really easy with your presentation but I in finding this matter to be really
      one thing that I believe I would by no means understand.
      It kind of feels too complex and very vast for me.
      I am looking ahead on your subsequent submit, I will attempt to get the hang of it!

    84. certainly like your website however you have to test the spelling on quite a few
      of your posts. Several of them are rife with spelling problems and I find it very troublesome to inform
      the reality nevertheless I’ll definitely come back
      again.

    85. I every time spent my half an hour to read this webpage’s articles or reviews daily along with a mug of coffee.

    86. I would definitely not recommend these as ways to break the
      ice however. For more information on my Workshops, Writing Mastermind Groups
      and private coaching, please go to my website listed below and
      feel free to call me any time. Well, it can easily be
      because the audience has been watching her in the TV for
      the past 6 years, but nevertheless, her FACTS are easy to remember and apply to everyone.

    87. Thus, it is clash of cpans forum, there are a few more topics
      that have been addreswed and proprrly dealt with.

      People just can’t redsist playing the game, bbut if
      yoou want to cclash off clans generate. By the way Thanks for watching my Clash of Clans cheats then you should get some cheat codes or hack the game.

      Here is my webpage clash oof clans Hack ipad (http://www.divshare.com/)

    88. It acts immediately on all your garage concerns as quickly as possible.
      This article will take you through the steps to safely remove
      the hinge and roller assembly and replace the roller.
      Rolling shutters of ROMA have a patented sound body and are therefore pleasantly quiet.

    89. Great defeat! I would like to trainee whilst you fix your blog, how does someone signed up for just a blog site web site? The consideration forced me to be a new proper bargain. I actually had been slightly common with this your send out provided sparkly translucent plan

    90. You get control of the successful franchise system in a specific geographic area, a proven track
      record that works, the brand name and even a partner in the form
      of a corporate office and other master franchisees to give you valuable support, latest innovations
      and business expertise when you need it. This might be the single most vital advantages of acquiring an organic franchise.
      It can be if you are looking at the bottom line
      financial figures, but you can’t look at just the
      numbers, you have to see and know what that money is buying you.

    91. One of the best known Protein Powder which meets the high standard is Whey Protein.
      In addition, dollar for dollar, protein powders and meal replacement drinks tend to be more cost effective than whole food.

      Probably the excellent manner to do this is to learn
      more about a.

    92. If you desire to get much from this post then you have to apply such strategies to your won weblog.

    93. Howdy! Quick question that’s totally off topic. Do you know how to make your site
      mobile friendly? My blog looks weird when browsing from my iphone4.
      I’m trying to find a theme or plugin that might be able to resolve this problem.
      If you have any recommendations, please share. Thank you!

    94. WOW just what I was searching for. Came here by searching for mini casino
      roulette set

    95. If I plan on keeping those rows for my goodgame empire minecraft hacked download resource plants will be at the left side.

      Here is my homepage :: Goodgame empire hack

    96. Very quickly this web site will be famous among all blogging and site-building viewers,
      due to it’s fastidious articles

    97. I loved as much as you’ll receive carried out right here.

      The sketch is tasteful, your authored material stylish. nonetheless, you command get got an shakiness over that you wish be delivering the following.
      unwell unquestionably come more formerly again as exactly the same nearly a lot often inside case you shield this increase.

    98. Amazing things here. I’m very satisfied to look your article.

      Thanks a lot and I’m taking a look forward to contact you.

      Will you please drop me a mail?

    99. A paste of the roots of the bitter gourd plant can also be
      applied over piles with beneficial results. Contact with contaminated toys, such as toys, doorknobs or possibly
      faucet handles. Minocycline can result in upset tummy, looseness
      of the bowels, weakness, unsteadiness, drowsiness, mouth sores, headaches and queasiness.

    100. Excellent beat ! I wish to apprentice even as you
      amend your site, how can i subscribe for a blog website? The
      account aided me a appropriate deal. I had been a
      little bit acquainted of this your broadcast provided
      shiny clear concept

    101. Carlos says:

      Greska si za one deka ima solidna mreza,one ima nbroada i najkvalitetna mrezna pokrienost vo makedonija so kade kade posovremeni bazni stanici od t-mobile druze.

    102. Bagong says:

      An impressive share, I just given this onto a caolelgue who was doing a little analysis on this. And he in fact bought me breakfast because I found it for him.. smile. So let me reword that: Thnx for the treat! But yeah Thnkx for spending the time to discuss this, I feel strongly about it and love reading more on this topic. If possible, as you become expertise, would you mind updating your blog with more details? It is highly helpful for me. Big thumb up for this blog post! November 1, 2012

    Trackbacks/Pingbacks

    1. [...] Go to Source Related Posts:SEC OIG Investigating SEC Complicity in Naked Short SellingLawsuit says ads in social games are scamming players (Zynga/Facebook) – Democratic Underground.comLawsuit says ads in social games are scamming players – USA Today [...]

    2. [...] here to read the rest: The stories behind the Rocker and Gradient lawsuit story | Deep … By admin | category: naked | tags: bergdorf, deaths, naked, nothing-says, short, [...]

    3. [...] (Nasdaq: SIRI). Looking back, I can make this statement with a high degree of certainty following Overstock.com’s victory over short selling hedge fund, Rocker Partners. The suit had claimed that the fund used various media sources to manipulate the company’s [...]

    4. [...] I can make this statement with a high degree of certainty following Overstock.com’s (OSTK) victory over short selling hedge fund, Rocker Partners. The suit had claimed that the fund used various [...]

    5. [...] This post was mentioned on Twitter by AuctionBytes and DeepCapture, Jim Lee. Jim Lee said: The stories behind the Rocker and Gradient lawsuit story http://bit.ly/4nPHbx via @AddToAny [...]

    6. [...] I can make this statement with a high degree of certainty following Overstock.com’s (OSTK) victory over short selling hedge fund, Rocker Partners. The suit had claimed that the fund used various [...]

    7. [...] fire for its complicity in the act of illegal naked short selling, on the news of Overstock’s settlement with short-selling hedge fund Rocker Partners. A discussion of the “snake oil” tactics of Jim Cramer soon followed, describing the [...]

    8. [...] inquiring, Deep Capture says the inclusion of some of the names was an accident and has removed them. Other users might [...]

    9. [...] In a recent post, I offered a theory as to why the reporting on a specific incident – DeepCapture contributor and Overstock.com CEO Patrick Byrne’s filing of a defamation lawsuit against short-selling hedge fund Rocker Partners – was so undeniably polarized. In short, regional and non-business press reported very objectively on the suit, while the New York financial press coverage was overwhelmingly pro-Rocker Partners and anti-Byrne. [...]

    10. [...] In a recent post, I offered a theory as to why the reporting on a specific incident – DeepCapture contributor and Overstock.com CEO Patrick Byrne’s filing of a defamation lawsuit against short-selling hedge fund Rocker Partners – was so undeniably polarized. In short, regional and non-business press reported very objectively on the suit, while the New York financial press coverage was overwhelmingly pro-Rocker Partners and anti-Byrne. [...]

    11. [...] comes across the blogs harping on Judd and who then clicks through to Judd’s work (especially The Stories Behind the Rocker and Gradient Lawsuit Story) is going to see the Reality/Bizarro divide in about 2 minutes. Sloppy work, guys: I know it must [...]

    12. [...] comes across the blogs harping on Judd and who then clicks through to Judd’s work (especially The Stories Behind the Rocker and Gradient Lawsuit Story) is going to see the Reality/Bizarro divide in about 2 minutes. Sloppy work, guys: I know it must [...]

    13. [...] comes across the blogs harping on Judd and who then clicks through to Judd’s work (especially The Stories Behind the Rocker and Gradient Lawsuit Story) is going to see the Reality/Bizarro divide in about 2 minutes. Sloppy work, guys: I know it must [...]

    14. [...] early December, I published a video suggesting that — based on links revealed by their publicly-available Facebook friend lists [...]


    Leave a Reply

    • Popular
    • Latest
    • Comments
    • Tags
    • Subscribe

    Related Sites