Sorry to intrude. I don't know much about TERN. However, I am investigating a pattern that has emerged when some of these short "investigators", some of whom pretend to be real ANALysts and pay (or self-promote) to have their own PR's published, get involved.
There may be front running and scalping involved. It is my contention that selective leaking to associates of a "report" no matter how ridiculous that "report" by a purported "ANALyst", which "report" is intended to manipulate a stock price may be actionable under Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.
The fact that one individual or entity that publishes the "report" does not have a position would not, IMO, insulate that individual or entity when there is concerted action.
The names that appear on this thread appear on many others and even their own websites. In my opinion, there is significant nexus to create something "worthing", excuse me, I mean worthy of investigation.
Some novel areas of law that will, IMO, emerge are whether the law firms which jump in before doing significant due diligence may themselves have some liability under the above cited sections. Although they may not necessarily intend to manipulate, if they act in concert with those who do, then I believe this is an open question.
It's all new law and if I were the supposed truth seekers, I'd be very nervous, nervous enough not to be spewing venom..... |
