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Arena Pharmaceuticals, Inc. Message Board

  • no_ads_4_thestreet no_ads_4_thestreet Jul 11, 2013 3:31 AM Flag

    Credit Suisse - Caught Illegal Short Selling of ECD

    Don't drop the soap!

    securities.stanford.e*d*u/1050/ENERQ00_01/

    remove the *

    Sentiment: Strong Buy

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Their crooks that only fool the gullible. Not Arena Longs!

    • SAN FRANCISCO--(BUSINESS WIRE)--Nassiri & Jung LLP announced today that a class action has been commenced in the United States District Court for the Northern District of California on behalf of persons or entities who purchased or otherwise acquired Energy Conversion Devices, Inc. (“Energy Conversion Devices”) (NASDAQ: ENER) common stock on or after June 18, 2008 (the “Class Period”).

      If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

      The complaint charges defendants Credit Suisse International and Credit Suisse Securities (USA) LLC (together, “Credit Suisse”) with violations of Section 9 and Section 10(b) of the Securities Exchange Act of 1934. The complaint alleges that during the Class Period, defendants, through two prospectus supplements filed with the SEC, issued materially false and misleading statements concerning a public offering of 4,714,975 shares of Energy Conversion Devices common stock on June 18, 2008. The common stock prospectus supplement, along with a “3.00% Convertible Senior Notes due 2013” prospectus supplement, disclosed that some investors might take advantage of a share lending agreement to short Energy Conversion Devices common stock as a “hedge” against their investment in convertible notes.

      According to the complaint, defendants’ statements were false and misleading because defendants knew or deliberately disregarded and failed to disclose that the convertible notes were in fact designed to facilitate market manipulation and a net short position by some investors participating in the notes offering. Plaintiff alleges that as a result of these misrepresentations and/or omissions, Energy Conversion Devices common stock traded at artificially-inflated prices during the Class Period

    • I missed this first time around.

      Thanx!

    • Pay no attention to the man behind the curtains.... To bad they won't get any real punishment for this...They will admit to no wrong doing and pay a fine and continue in a different way. Cat and mouse.

      • 1 Reply to lukb4ujump
      • And they all do it----CS just got caught and it was to egregious to ignore. They destroyed a viable company---for what---the sanctity of the money making markets. Unfortunately precious little will happen to them that impacts doing it again and again!

        Sad! They would try and destroy ARNA too if they were alone on Belviq, but they are not! Easai involvement makes it too hard to destroy!

        JMO

        kutz

        Sentiment: Strong Buy

    • I sincerely hope they put these crooks under the jail !! This bunch has continuously bashed arna and the whole time they were accumulating ------ they used their position to downgrade arna and scare good hard workin retial folks out of their shares --- I say tar and feather the crooks !!! Then put them in with Bernie !!

      Sentiment: Strong Buy

    • I'm looking forward to the day when ARNA market cap surpassed Credit Suisse. And ARNA can then issue a downgrade on their stock.

    • Wait unto they work VVUS over

      The complaint charges defendants Credit Suisse International and Credit Suisse Securities (USA) LLC (together, “Credit Suisse”) with violations of Section 9 and Section 10(b) of the Securities Exchange Act of 1934. The complaint alleges that during the Class Period, defendants, through two prospectus supplements filed with the SEC, issued materially false and misleading statements concerning a public offering of 4,714,975 shares of Energy Conversion Devices common stock on June 18, 2008. The common stock prospectus supplement, along with a “3.00% Convertible Senior Notes due 2013” prospectus supplement, disclosed that some investors might take advantage of a share lending agreement to short Energy Conversion Devices common stock as a “hedge” against their investment in convertible notes.

      According to the complaint, defendants’ statements were false and misleading because defendants knew or deliberately disregarded and failed to disclose that the convertible notes were in fact designed to facilitate market manipulation and a net short position by some investors participating in the notes offering. Plaintiff alleges that as a result of these misrepresentations and/or omissions, Energy Conversion Devices common stock traded at artificially-inflated prices during the Class Period. Less

    • matchpoint7@gmail.com matchpoint7 Jul 11, 2013 5:16 PM Flag

      SAN FRANCISCO--(BUSINESS WIRE)--Nassiri & Jung LLP announced today that a class action has been commenced in the United States District Court for the Northern District of California on behalf of persons or entities who purchased or otherwise acquired Energy Conversion Devices, Inc. (“Energy Conversion Devices”) (NASDAQ: ENER) common stock on or after June 18, 2008 (the “Class Period”).

      If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

      The complaint charges defendants Credit Suisse International and Credit Suisse Securities (USA) LLC (together, “Credit Suisse”) with violations of Section 9 and Section 10(b) of the Securities Exchange Act of 1934. The complaint alleges that during the Class Period, defendants, through two prospectus supplements filed with the SEC, issued materially false and misleading statements concerning a public offering of 4,714,975 shares of Energy Conversion Devices common stock on June 18, 2008. The common stock prospectus supplement, along with a “3.00% Convertible Senior Notes due 2013” prospectus supplement, disclosed that some investors might take advantage of a share lending agreement to short Energy Conversion Devices common stock as a “hedge” against their investment in convertible notes.

      According to the complaint, defendants’ statements were false and misleading because defendants knew or deliberately disregarded and failed to disclose that the convertible notes were in fact designed to facilitate market manipulation and a net short position by some investors participating in the notes offering. Plaintiff alleges that as a result of these misrepresentations and/or omissions, Energy Conversion Devices common stock traded at artificially-inflated prices during the Class Period.

    • HOLY SHYEEET!!!!!!!!!!!!!! BUMP!

    • Kowalski is going to end up in the slam by Oct.. W&L

    • View More Messages
 
ARNA
3.91-0.11(-2.74%)Sep 15 3:59 PMEDT

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