Wall Street Journal reporters, and a whistleblower who has since become an activist short seller.
Catalyst dubbed the group the “wolfpack” and in November of 2017 sued in the Ontario Superior Court of Justice in Toronto, alleging the individuals and companies had engaged in a conspiracy to torpedo its troubled publicly traded lending entity, Callidus Capital Corp.
The allegations were based on an article published in the
Wall Street Journal on Aug. 9, 2017, outlining whistleblower accusations against Catalyst and Callidus, which said the article triggered a “chaotic sell-off” of Callidus shares by “naked” short-sellers. The defendants have denied the charges and countersued.
A year before Carson Block launched Muddy Waters Capital, his hedge fund firm, he started trying to line up a prime broker an investment bank that could lend him stocks so he could then sell them short. But the task was proving arduous.
The problem, he believes: Block had made his name calling out China frauds, and Wall Street loved China.
After several bulge-bracket banks turned him down, Block decided to try his luck with Jefferies Financial Group, a scrappy up-and-comer known for its trading skill. Muddy Waters, then only a research firm, was based in San Francisco, so he arranged an interview with Jefferies CEO Rich Handler on his next visit to New York City.
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Bridgewater Associates (Bridgewater), a global leader in institutional portfolio management and the largest hedge fund in the world, has launched a new sustainable investing venture. Karen Karniol-Tambour and Carsten Stendevad will serve as Co-Chief Investment Officers (Co-CIO) for Sustainability, overseeing the effort, including the design and implementation of investment solutions for clients pursuing sustainability goals alongside their financial targets.
Stockholm (HedgeNordic) – Hedge fund manager Sean George has decided to leave Strukturinvest Fondkommission and Sweden for new challenges abroad. Consequently, Hamiltonian Global Credit Opportunities (Hamiltonian GCO), the credit-focused hedge fund founded and co-managed by George, is closing down at the end of April, a few month
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Muddy Waters Sued Over Report Linking Solutions 30 to Crime
Published :April 06 2021, 10:48 PM
Last updated : April 07 2021, 12:15 AM
(Bloomberg) Muddy Waters Capital LLC was accused in a lawsuit of profiting from shorting Solutions 30 SE while targeting the European technology services company in an “aggressive and baseless” campaign.
A Romanian company that provides back-office support for Solutions 30 said in the complaint that Carson Block’s research firm anonymously published a report alleging that Solutions 30 had multiple links to criminals and ties to money laundering.
Solutions 30’s shares slumped as much as 37% in December after the Luxembourg-based company said it hired an external auditor to review the allegations in the report. The stock soared as much as 37% on April 1 after the company said an independent auditor confirmed the allegations are unfounded.