Fri, Aug 29, 2014, 5:04 AM EDT - U.S. Markets open in 4 hrs 26 mins


% | $
Quotes you view appear here for quick access.

Athenahealth, Inc. (ATHN) Message Board

wowtheking2 233 posts  |  Last Activity: Aug 26, 2014 8:17 AM Member since: Mar 16, 2010
SortNewest  |  Oldest  |  Highest Rated Expand all messages
  • Journalist Sues SEC to Get Naked Short Selling Files
    Lawsuit Filed in Chicago Seeks to Tear Down SEC's Veil of Secrecy

    CHICAGO, IL, May 29, 2014 (Marketwired via COMTEX) -- A lawsuit has been filed under the Freedom of Information Act against the Securities and Exchange Commission (SEC) to obtain the agency's investigative files relating to more than a dozen aborted investigations and cases involving naked short selling. The complaint was filed on behalf of Mark Mitchell, an investigative journalist who publishes on , a website that offers in-depth reports on the extent to which naked short selling pervades the US capital markets.

    According to the complaint, naked short selling has flourished over the past decade because of regulatory loopholes designed by Wall Street and embedded into law by the SEC. Although the SEC created a regulation in 2005 -- Regulation SHO -- that was supposed to stop the practice, Mitchell claims the SEC's Enforcement Division rarely enforced the regulation.

    "The SEC has opened multiple investigations and filed a few administrative cases focusing on naked short selling, but has released little information regarding its findings in those investigations," says Mitchell. "The few cases which the SEC has filed for naked short selling involve minor market participants or trivial violations by major financial institutions."

    Regulators assumed that Reg SHO had contained naked short selling until the financial crisis fully blossomed in 2008. As the stock prices of the nation's biggest investment banks, such as Lehman Brothers and Morgan Stanley, collapsed, their CEOs claimed that naked short selling -- which had flooded the market with counterfeit stock -- was to blame. Mitchell's complaint tells how the SEC then frantically issued a half a dozen emergency orders and revisions to Reg SHO in 2008 and 2009 to stop naked short selling.

    Mitchell says the SEC has never made public the results of its investigations of the naked short selling of Bear Stearns, Lehman Brothers, Merrill Lynch, Morgan Stanley or Goldman Sachs, the big banks that collapsed or nearly collapsed during the financial crisis. The complaint also points to the massive violations of Reg SHO committed by UBS Securities and Credit Suisse Securities, which became public in 2011 when the Financial Industry Regulatory Authority (FINRA) released its settlements with those two banks.

    The naked short sales by UBS were "in the tens of millions," according to FINRA, and had the potential to undermine the integrity of the capital markets. The Credit Suisse violations of Reg SHO, according to FINRA were in the same ballpark, with approximately 10 million violations.

    Although the releases of FINRA's settlements confirmed that hundreds of other market participants were involved in these violations, none were identified. Nor did FINRA identify any of the public companies that were victimized by the naked short selling. FINRA also did not identify any executives or employees of the banks that participated in these violations.

    "The complaint seeks the SEC investigative files relating to more than a dozen of its investigations or filed cases involving naked short selling," say Mitchell. "I intend to cut through the veil of secrecy that surrounds naked short selling and to enable the public to understand just how great a risk this form of market manipulation poses to our capital markets."

    Mitchell is represented by Gary Aguirre, a former Senior Counsel in the SEC's Enforcement Division. In 2006, Aguirre testified before the Senate Judiciary Committee that naked short selling was one of the types of market abuse plaguing the capital markets that the SEC was ignoring. Mr. Aguirre is being assisted by Hal Wood of Horwood Marcus & Berk Chartered in Chicago.

  • People of power need to stop the shorts from holding back companies that want to SAVE people...Just like they are doing to ISR.. This company should be rewarded for their efforts, NOT blasted down to steal pennies

  • to respond adequately to my Freedom of Information Act (FOIA) requests seeking SEC documents related to the SEC’s various investigations (and failure to perform adequate investigations) of naked short selling crimes that undermined the stability of the American financial system.

    This is the first lawsuit against the SEC ever filed by a journalist seeking information about the SEC’s failure to regulate naked short selling, one of the most serious crimes affecting the American markets. I have filed the lawsuit with help from Gary Aguirre, a former senior enforcement official with the SEC, famous for having blown the whistle on the protection that top SEC officials were providing to hedge fund Pequot Capital and Morgan Stanley CEO John Mack.

    Aguirre made headlines in 2006 by reporting in Congressional testimony that he had been improperly fired by the SEC after complaining that top SEC officials had derailed an investigation into an insider trading scheme perpetrated by Pequot Capital, and that the investigation had likely been derailed because the Aguirre had also been investigating Mack in connection with the insider trading, while Aguirre’s supervisor at the SEC was preparing to take a job with Mack’s law firm.

    What did not make the headlines was the fact that Aguirre reported in that same Congressional testimony that when he was improperly fired, he had been investigating not only insider trading, but also naked short selling. “The investigation was two-pronged,” Aguirre reported to Congress. One prong concerned “insider trading.” However, the second, and far more important prong, concerned “market manipulation” and, more specifically, “two suspected violations: wash sales and naked shorts.”

    “My colleagues,” Aguirre reported to Congress, “believed [the naked short selling] held a greater potential to severely injure the financial markets.” Indeed, Aguirre reported to Congress that naked short selling had the potential to deliver a market crash similar to the crash of 1929, from which followed the Great Depression.

    Two years later, in 2008, that prediction proved correct when naked short selling contributed to a meltdown just as severe as the great crash of 1929. At that time in 2008, the CEOs of multiple Wall Street investment banks (long among the perpetrators of naked short selling) complained that naked short selling was contributing to the death spirals in their stock prices, and the SEC responded by issuing an unprecedented “Emergency Order” that temporarily banned all short selling of stock in more than 900 companies in the financial industry.

    In that Emergency Order, the SEC effectively admitted that naked short sellers were contributing to the worse financial crisis since the Great Depression, and the SEC subsequently enacted new rules that supposedly made it more difficult for traders to engage in naked short selling, but those new rules were not sufficient, and to this day, the SEC has not sanctioned even one trader for perpetrating the naked short selling that (according to the SEC) contributed to the great meltdown of 2008, and nor has the SEC released any documents concerning its supposed investigation into that naked short selling—one of the great unsolved crimes of the century.

    One purpose of my lawsuit is to force the SEC to hand over documents related to its investigation, or failure to investigate, the naked short selling that contributed to the great meltdown of 2008, but that is not all. There is massive amount of other information my lawsuit seeks to extract from the SEC, and I encourage you to read the lawsuit in its entirety because it is a gory chronicle indeed of the crimes that naked short sellers have perpetrated against the markets, and an even more shocking tale of how the SEC has failed to enforce the law while actually providing cover for the perpetrators of a crime that, at the present moment, is still undermining the stability of the global financial markets.

    The lawsuit is posted in its entirety below:

    United States District Court


    Eastern division






  • mark down is a trick by shorts shows last sale down,, Now back to the naked short count,, today i see 4 what does the company see?

  • what is the count so far? Company being quiet about

  • wonder what company discovered

  • amazing all talk and you have done zero

  • Have some guts and issue a special dividend, get rid of shorts now,

  • to make this a zero, But are trapped,

  • Lesson 1: Remember, BASHERS NEVER BASH A BAD STOCK.
    Watch the board for stocks with no potential. They never have any bashers. Bashers only go after stocks that are going upwards or have excellent potential to go up. Bashers get left behind, so they want to bring the price down to be able to get in at a great price.

  • and what does RCPI make it product from?

  • so if this company was allowed to go up and the company can get more money to do more test at a faster rate, It can save people, And the SEC lets thugs naked short it down for what reason

  • I guess you need help counting

  • In addition, the 1st Appellate District of the California Court of Appeals has set an August 15, 2014 date in San Francisco to hear oral arguments regarding our lawsuit against Goldman Sachs and Merrill Lynch, as well as the motion to unseal the evidence that has been jointly filed by The Economist, Rolling Stone, Bloomberg, and The New York Times. I believe things are going to get exciting.

    Follow news from Overstock that is the company

  • Alzheimer's Disease Fight Focuses on Preventive Treatment
    Delaying Onset by Five Years Could Greatly Reduce the Number of Patients
    Shirley S. Wang

    Studies are finding evidence that changes in diet and exercise can help delay Alzheimer's disease. Alamy


    "Earlier is better" has become a mantra in the field of Alzheimer's disease. Experts are targeting the prevention or delay of memory decline more, instead of just focusing on treating patients who have the disease.

    Results from one of the largest randomized prevention trial to date presented Sunday here at the Alzheimer's Association International Conference suggest why scientists are thinking this way. The trial found that intervention involving exercise, diet and other behavioral changes significantly improved overall cognitive functioning in patients after two years, compared with patients in a control group.

    The trial, conducted in Finland and known as Finger, is only one of roughly 25 such studies under way, experts say. More are set to begin, examining different preventive strategies in cognitively normal people or those exhibiting mild memory problems who are at high risk for developing dementia.

    Some focus on lifestyle activities and others on medications to slow or stop the ravages of the disease on brain tissue and neurons.

    The largest involve thousands of participants and cost tens if not hundreds of millions of dollars funded by combination of the government, private foundations and pharmaceutical companies. The latest partnership is expected to be announced Tuesday, with Novartis AG NOVN.VX +0.56% providing significant funding to the Banner Alzheimer's Institute in Phoenix for a prevention trial starting next year likely to cost over $100 million. The National Institutes of Health is also providing over $30 million for the study.

  • take your time,, with the share count

  • wowtheking2 wowtheking2 Aug 18, 2014 9:13 AM Flag

    the shorts want investors to beg for stock to go to $3,. they want company to dilute itself and hurt investors, Bio-Tech is where 90% of the shorts play,, they need Volume and want investors to have the dream.. How many investors got wiped out. because they dont see any returns. This stock should be 5-10 bucks by now,,

  • wowtheking2 wowtheking2 Aug 18, 2014 2:49 PM Flag

    you right,,, only fraud here by dopes like you

144.14+1.07(+0.75%)Aug 28 4:00 PMEDT

Trending Tickers

Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.