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We'll find out eventually if they were lying. How do you know what the SEC would fine them for this? Is there a record of funds lying about covering shorts of
by tomjakubowski 6y ago
We'll find out eventually if they were lying. How do you know what the SEC would fine them for this? Is there a record of funds lying about covering shorts of this magnitude and being fined just ~$1mil for it?
- FireBeyond 6y agoLooking for a source, but I read of a fund reporting a several hundred million dollar short position as "long", and being fined $810,000.
- creato 6y agoWas that an accident/mistake? If so, the fines may be (should be...) much different in this context, which is clearly not a mistake.
- notahacker 6y agoLawsuits from LPs and criminal prosecution in this case. Sometimes it's more likely hedge funds take their punishment than try the Worst Cover Up Ever, still lose money and face much worse consequences, especially since most of the money they've lost is other people's.
- aphextron 6y ago>Looking for a source, but I read of a fund reporting a several hundred million dollar short position as "long", and being fined $810,000. Practically a rounding error for these folks