JPM Message Board

 

Randy Hamdan
06/08/09.5:48.AM

(Updates to clarify $65 is for Q4, ad...

101

 

Reggie Abaca
11/28/08.1:43.PM

News J.P. Morgan is now saying that they w...

266

 

Perry Rod
10/31/08.12:59.PM

News JPMorgan to Modify Mortgages to Limit...

114

 

Mahyar Hashemi
09/26/08.1:34.PM

Market Makers "JPM said Friday that it has appointe...

132

 

Mahyar Hashemi
09/26/08.1:31.PM

Analysis The legacy of JP Morgan continues... ...

118

 

Mahyar Hashemi
09/26/08.1:27.PM

Analysis In the last couple weeks, this compan...

116

JPMorgan Chase & Co Market Maker Oversight

 

Anatoly Chubais
JPM

Moderated By
Mahyar Hashemi

 

U.S. Securities and Exchange Commission
DNDN BAC JPM AIG

Moderated By
Reggie Abaca

JPMorgan Chase & Co Featured Analysis

 

SEC OIG Investigating SEC Complicity in Naked Short Selling of Dendreon Corporation

by Mark Mitchell, Published: December 1st, 2009 6:35 PM CST

The Office of the Inspector General of the Securities and Exchange Commission not long ago submitted a semi-annual report to Congress. There are two items in the report of interest to those of us who have argued that the SEC has turned a blind eye towards, or even assisted, unscrupulous hedge funds that make their fortunes destroying public companies for profit.

The first item reads as follow:

“The OIG has opened an investigation into complaints from an investor alleging that the SEC failed to investigate instances of market manipulation and other misconduct in connection with the review, and eventual non-approval, of a developmental drug. The investor also has alleged that the SEC failed to investigate a recent bear raid on the stock of the company that developed the drug, causing a severe plunge in the stock price. The OIG has reviewed several hundred pages of documents, including numerous emails and attachments provided by the complainant. The OIG expects to complete its investigation and issue a report of investigation in the next reporting period.”

I have confirmed that this is a reference to the bear raid on Dendreon (NASDAQ:DNDN), described in considerable detail by Deep Capture.  There is plenty of evidence — including, perhaps, those documents and emails referred to by the OIG — pointing to miscreancy in this case. Indeed, it is one of the more despicable cases of market manipulation on record – and many cancer patients were deprived of potentially life-extending treatment as a result. We look forward to reading the OIG’s report – it should be a doozy.

The second item of interest in the OIG report is this:

“The…

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