- Forbes•2 years ago
The Securities and Exchange Commission has charged Nedko Nedev, a thirty seven year old Bulgaria-based trader with taking positions in Avon Products, Tower Group International and Rocky Mountain Chocolate Factory and then filing a series of misleading leveraged buyout bids for the companies from fake London-based shell companies, in a effort to boost their stocks and turn a quick buck profit.
- Business Insider•2 years ago
The SEC has filed a lawsuit over that bizarre, typo-filled Avon buyout offer from a firm no one had ever heard of
The Securities and Exchange Commission has filed a lawsuit in connection with the strange buyout...
- Bloomberg•3 years ago
Tower Group International Ltd. (TWGP) , the insurer that agreed to be bought by ACP Re Ltd., plunged to a record low amid doubts over whether the deal will be completed. Tower declined 19 percent to $1.65 at 9:52 a.m. in New York. “TWGP shares will likely be rife with speculation regarding the outcome of its merger with ACP Re,” Ken Billingsley, an analyst at Compass Point Research & Trading LLC, said in a research note today using Tower’s ticker symbol. The insurer disclosed late on June 27 a request that ACP Re affirm by 5 p.m. New York time today its commitment to buy Tower for $2.50 a share, as the company faces increased supervision from a Massachusetts regulator.
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