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Exelixis, Inc. Message Board

  • duckduffer duckduffer Sep 17, 2013 4:49 PM Flag

    Deerfield Violates Rule 105

    SEC Charges 23 Firms With Short Selling Violations in Crackdown on Potential Manipulation in Advance of Stock Offerings.
    The SEC’s Rule 105 of Regulation M prohibits the short sale of an equity security during a restricted period – generally five business days before a public offering – and the purchase of that same security through the offering. The rule applies regardless of the trader’s intent, and promotes offering prices that are set by natural forces of supply and demand rather than manipulative activity. The rule therefore helps prevent short selling that can reduce offering proceeds received by companies by artificially depressing the market price shortly before the company prices its public offering.
    On the list of violaters- Deerfield Management Company....hmmmmm

    GLTA

    Sentiment: Strong Buy

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