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Yes, two examples: Porsche in 2008 with Volkswagen and Martin Shkreli with KBIO in 2015. Neither faced any significant legal consequences and both made a huge r
by Miner49er 6y ago
Yes, two examples: Porsche in 2008 with Volkswagen and Martin Shkreli with KBIO in 2015. Neither faced any significant legal consequences and both made a huge return.
https://www.marketwatch.com/story/kalobios-short-sellers-facing-squeeze-as-ceo-shkreli-says-will-no-longer-lend-stock-2015-11-27 https://www.marketwatch.com/story/kalobios-short-sellers-fac...
- elliekelly 6y agoThe only reason Shkreli got away with it was because the DOJ brought (unrelated) criminal charges. If the DOJ hadn’t stepped in the SEC absolutely would have. The VW situation happened on a wildly different Wall Street and under a wildly different SEC. Things have changed since 2008 and pursuing that strategy today would be significantly more risky from a regulatory perspective. The SEC sent a clear message with Phil Falcone.