I just want to let you know that myself and several other people reported Elliot Favus to the SEC today by phone and through emails. Your story was cited in my email. No one may ever be able to prove the intent of your story but in any case the stock plunged this morning in the pre market and most likely the losers were small investors who panicked and most likely the winners were people who were short the stock. The swing back up when the stock was up 2.70 on the day didnt seem to be a leigitmate swing either. The stock probably closed where it would have closed if none of this happened. But it seems that some people wouldnt have lost money and some people wouldnt have made money if not for the story.
I don't know how much homework you did on the validity of this source but it seemed like what the source, Mr Favus said, caused the FDA to make a statement debunking what he said. As someone who writes about biotechs, I'm sure you know and understand how rarely the FDA would make a public statement about a drug that hasn't been approved.
The SEC if they choose to act on these complaints will sort out what happened and who was complicit in it. If they act, I'm sure as the writer of the story you will be contacted. My guess is that by securities law you did nothing illegal. You wrote what someone said and it's not illegal to carelessly report what someone said without doing your homework. It says a lot about your credibility or lack of it and it may even speak to your intentions. Of course your intentions will never be known.
What I can say with pretty fair certainty is that either Mr Favus did something that might raise major red flags with the SEC or the "doctors" that he cited may be of interest to them as well. In any case, it was you, Mr Fuerstein and only you, who gave this guy the public forum to get his words out. That is something that you will have to deal with both in your reputation in your field and hopefully in your conscience if you have one. If nothing else you enabled someone to have possibly have committed a criminal act.
Thanks for reading.
Very poor writing first off.
And who cares?
He reported the way he saw fit.Just as ABC,NBC and The other moron Huckman does.Grow up Met and realize this is Wall st and not your weed ridden back yard.
Roger, your jealousy shows. If your argument was solely that you disagree with me you wouldn't have shown your true colors. To say it's poorly written proves you are lying and jealous. I feel sorry for you. I really do. Worry about your own backyard which happens to also be your mothers backyard. Time for you to move out of your mother's basement.
There is no excuse for Fuerstein's shoddy reporting. As a former newspaper publisher I would never have tolerated this kind of
unprofessional reporting. It is a reporter and editor to verify the source of a story, and their undisputable facts. Fuerstein failed to follow accepted reporting rules. I do believe he should be investigated by the SEC.
My grandson who lives three thousand miles from me, called in a panic to inform me he read Fuerstain's piece and sold DNDN at the opening bell. As a result, he has lost several thousand dollars. I will urge him to contact the SEC to report the results of costly decision based on Fuerstein's false report.
your grandson should take AF to small claims court. everyone who lost under 10K should file one. i remember a case several years ago involving an apartment building owner who scammed his tennants and since they were poor and couldn't hire a high priced lawyer they banned together and each filed a $10,000 small claims action. i think 20 of them won and collected $200,000 and bankrupted the owner. inundate AF with about 200 small claim court actions and put this retard out of business.
UCLABRUINS, you are a complete idiot with absolutely no clue what you are talkign about. Cramer is despicable as well as Feuerstein. I never sell anything based on what they say or write. I reported what I think is possibly an illegal act by Dr Favus. I state over and over that while Feuerstein may be a bad person with bad intentions he probably didn't violate any laws. Favus on the other hand may have and so he was reported. If the SEC ever did anything to this guy it might set an example for others that the small investor is completely tired of being pawns in the hedge funds game. I don't know if you remember that bear raid last year, but there were hundreds of 5,6,7 year investors who got stopped out of Dendreon when it fell 15 or so points in 70 seconds on a hedge fund bear raid. I'm looking at the bigger picture of really innocent people who get hurt by hedge funds. I'm not referring to people who may have sold because they listen to this idiot Feuerstein or his enabling very potentially an illegal act. If the SEC investigates and finds securities laws were broken then maybe they will set an example. It's an open and shut case. Its not complex. It's all there in the public domain. It's something they could very easily act on.
Since Mr. A.(Arsehole) F.(Financier)also reported negatively on Dendreon previously, and knowing of his links to manipulators...when he is found guilty along with his cronies of manipulating this stock. He should be thrown in jail and stippe of all of his savings. Forcing his wife and family into a homeless shelter for the entire time he and his pals aree in jail. If this happened as a matter of course to manipulators like himself, all of this thievery could quite possibly come to an end.