Today, short-selling hedge fund Rocker Partners paid Overstock.com $5-million to settle the lawsuit filed against them in August of 2005. Rocker Partners also entirely dropped its own countersuit. This is a major victory for all public companies targeted by bear raiding hedge funds.
Gary Weiss come to know the substance, sentiment and timing of one of New York Times business columnist Joe Nocera’s most vicious attacks against opponents of illegal naked short selling, long before it was published?
Naked short selling and phantom stock causes the SEC to declare emergency; Joe Nocera and affiliated journalists continue to deny there is a problem.