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Getting closer to single digits!
I always like it when a plan comes together 3s coming lol
KCG - Sub-$5 coming when they are exposed for the billions in risk they have for a number of companies they helped to naked short sell into oblivion.
Turnabout is fair play!
Must be Karma!
made it there
Looking weak..
Getting close to single digits!
Let the house of cards fall.. When the dust settles, just imagine what will be found out..
KCG - Billions in fines and penalties about to be paid out?
Connected to Citadel's China naked short selling?
Tic Toc
On no more trouble on the way?
Likely a good short if so inclined!
KCG - On the hook for billions and billions of dollars worth of equity entitlement risk that is about to come due.
Stay tuned!
Sub-$5 coming! AGAIN!!!
pps falling off the clift.
KCG - Based on history, the price will collapse again.
Have not been watching NITE as closely as of late, but with all of the convictions looming in the sector, NITE is likely to be swept in with the rest of the crew.
Looking to trade KCG again on the shortyside.
I heard "Information technology" is better than waiting.
Can you help me out with this IT text, timing and charts stuff?
I've read your posts but don't understand it but I like computers and would like to learn more.
It won't matter, they are to well protected. It's best to wait for the next "oops" moment and buy that huge dip , sit back and ride it back up. Wash, rinse and repeat. KCG proof you can always make money if the company your betting on is 100% protected and backed by our saving government agencies. Lol GLTA
KCG - They have a diverse network at most of the brokers and market makers. They are all colluding.
Information technology and social media have help them to succeed, thus far. Too bad that all of that transparency will come back and be used against them soon.
Interesting post AlanC...
Third Circuit Sends 'Naked' Short Sale Case to State Court
By Charles Toutant Published: Nov 11, 2014
The U.S. Court of Appeals for the Third Circuit has remanded to New Jersey state court a suit claiming Merrill Lynch, UBS Securities, E Trade Capital Markets and other financial institutions conspired to conduct abusive “naked” short sales of the stock of Escala Group Inc.
The appeals court found no federal jurisdiction over the plaintiffs’ state-law claims, which allege that the defendants manipulated the stock price. Although the short sales at issue in the case are subject to federal scrutiny under Regulation SHO, which has no analogous provision under New Jersey law, the question of whether the defendants’ acts violate New Jersey law need not be answered by reference to Regulation SHO, the appeals court said.
A group of individuals and business entities filed the suit in Morris County Superior Court, and Merrill Lynch removed it to federal court in Newark on federal question jurisdiction. When the plaintiffs moved to remand the case to state court, U.S. Magistrate Judge Michael Hammer recommended the motion be granted in December 2012. But U.S. District Judge Jose Linares overruled Hammer in March 2013 and denied the plaintiffs’ motion to remand.
On Nov. 10, Third Circuit Judges D. Brooks Smith, Thomas Vanaskie and Dolores Sloviter reversed Linares’ ruling and instructed that the case be remanded to the Superior Court of New Jersey.
The ruling is precedential because it marks the first time any federal appeals court has ruled on the interplay between state causes of action and federal claims rising out of a racketeering suit, according to Neil Flaster, the Florham Park, N.J., solo representing the plaintiffs.
The suit was brought by Greg Manning of Boonton, N.J., and Claes Arnrup of Sweden, as well as four holding companies. All held stock in Escala Group at the time of the alleged naked short selling in 2006 and 2007. Escala Group changed its name to Spectrum Group International in 2009. Located in Irvine, Calif., the company is a dealer and auctioneer of stamps, coins, military memorabilia and other collectibles.
Besides Merrill Lynch, UBS and E Trade, the suit names Knight Capital Americas, National Financial Services and Citadel Derivatives Group as defendants. The suit claims the defendants falsified documentation of trades and loans of Escala shares while conducting transactions on their own behalf and for others.
The suit claims the defendants’ actions caused an artificial increase in the number of shares in Escala by “manufacturing fictitious and unauthorized phantom shares,” which caused the value of the plaintiffs’ holdings to decline and diluted their voting rights. The suit brought claims under the New Jersey Racketeer Influenced and Corrupt Organizations Act based on predicate acts of New Jersey securities fraud and theft, and common-law claims for unjust enrichment, interference with economic advantage and contractual relations, breach of contract, breach of the covenant of good faith and fair dealing, and negligence.
The suit says that when the naked short sales began in March 2006, the price of Escala stock fell from $32 to $4 in the course of five days.
Smith wrote for the appeals court that in a typical short sale, the seller identifies a stock that is expected to drop in price; arranges to borrow shares of the stock from a broker; sells the borrowed securities; waits for the stock to decrease in value; purchases replacement securities; and returns them to the broker.
Typically, Smith wrote, a short sale is completed within three days, but in a “naked” short sale, the buyer fails to deliver securities to the buyer within the standard three-day settlement period, as part of a scheme to manipulate the price of a stock.
Naked short selling is not per se illegal under federal law, but some naked short selling schemes may violate federal antitrust laws, as well as Regulation SHO, he said.
The defendants argued that federal jurisdiction was conferred by 28 U.S.C. 1331 and by Section 27 of the Exchange Act. In support of their Sec. 1331 claim, the defendants cited D’Alessio v. New York Stock Exchange. In that 2001 case, the Second Circuit found federal jurisdiction under Sec. 1331 where a court was required to construe federal securities laws because the plaintiff claimed the New York Stock Exchange failed to perform its statutory duty, created under federal law, to enforce members’ compliance with those laws. But the present case “is distinguishable because plaintiffs’ claims could rise or fall entirely based on the construction of state law,” the panel said.
The panel also rejected the defendants’ claim of federal jurisdiction under Section 27, which relied on a line of cases from the Ninth Circuit. Those cases are at odds with the Supreme Court’s 1961 decision in Pam American Petroleum Corp. v. Superior Court of Delaware, the panel said.
Plaintiff lawyer Flaster said he was pleased with the decision, since his clients would have been held to a higher standard on a defense motion to dismiss in federal court.
A Merrill Lynch spokesman, Bill Halldin, said the company had no comment about the ruling. Lawyers for the other defendants either did not return calls from a reporter or had no comment. Sophie Sohn, a spokeswoman for KCG, a successor by merger to Knight Capital, said her company had no comment.
http://www.law.com/sites/articles/2014/11/11/third-circuit-sends-naked-short-sale-case-to-state-court
And with regard to KCG...it appears to be a prime target for an aggressive short selling campaign.
Why?
KCG - Nothing wrong with short selling, as long as it is done by the rules.
Chart shows it is rolling over.. May be a very good short play.. Thanks
And what's wrong with short selling?
KCG - Of course he is. How do you think he routes his short sales?
Good Luck!
Um, you think Ackman is somehow unaware of KCG? But why would it be a good short play right now? It's been trading in a range for awhile.
KCG - Someone should let Ackman know about KCG as a short play.
I wonder what the reaction would be if a group began abusively naked shorting their stock? lol
So if you believe there's "nefarious behavior", why don't YOU submit that complaint? Be sure to describe exactly what the alleged "nefarious behavior" is, relatively to the filing under discussion. Back up your allegations with facts and figures.
Kind of sketchy in my opinion!
Any nefarious behavior with this one can be reported!
http://www.sec.gov/complaint/tipscomplaint.shtml
There were no errors or omissions. What part of that don't you get?
Errors and omissions is a costly necessity!
Ignorance of the reader, or passive aggressive inference by an anonymous representative of the organization?
Ignorance of the reader, obviously,
I did point you to the list of holdings last night.
Now that you've presumably read the whole thread, you know there never was any "omission".
KCG - Ignorance of the reader, or passive aggressive inference by an anonymous representative of the organization?
Now that you have pointed it out my bet is that the omission is quickly corrected.
That is interesting..
Read the individual attachments, so far it is poor interpretation on the part of the reader and ignorance of how to use EDGAR properly to view the individual attachments of a single filing.
Um, a letter about what? A nascent conspiracy theory nipped in the bud by Reality?
Yeah a lot of glitches in the markets nowadays...
Maybe a letter to the SEC is in order?
http://www.sec.gov/complaint/tipscomplaint.shtml
KCG - Sure. But I don't see each of the companies' shares broken out.
No. The KCG institutional investment manager controls holdings in the amount of 5.18 billion shares of various equities.
Do you know what institutional investment managers do?
Guess you don't check OTCMarkets for very many exchange listed issues… Pretty much none update their info.
KCG - Must be another glitch.
Why is KCG the only company that OTCmarkets.com doesn't have and updated share structure for?
http://www.otcmarkets.com/stock/KCG/profile
Tic Toc
Read what a Form 13F IS.
KCG - Read the form 13F provided.
The form claims 5.2B shares reported.
5.2M (Thousands) = 5.2B
Probably just a glitch.
KCG - They can't even fill out a for 13F correctly.
Or do they really have 5.2B shares???
http://ih.advfn.com/p.php?pid=nmona&article=64929988
Tic Toc
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Knight Capital Group, Inc. (collectively with its subsidiaries, "Knight" or the "Company") is a global financial services firm that provides access to the capital markets across multiple asset classes to a broad network of clients, including broker-dealers, institutions and corporations. The Company seeks to continually apply its expertise and innovation to the market making and trading process to build lasting client relationships through consistent performance and superior client service. The Company has four operating segments: (i) Market Making, (ii) Institutional Sales and Trading, (iii) Electronic Execution Services and (iv) Corporate and Other.
Market Making
The Market Making segment principally consists of market making in global equities and listed domestic options. As a market maker, the Company commits capital for trade executions by offering to buy securities from, or sell securities to, institutions and broker-dealers. The Market Making segment primarily includes client, and to a lesser extent, non-client electronic market making activities in which the Company operates as a market maker in equity securities quoted and traded on the Nasdaq Stock Market; the over-the-counter ("OTC") market for New York Stock Exchange ("NYSE"), NYSE Amex Equities ("NYSE Amex"), NYSE Arca listed securities; and several European exchanges. As a complement to electronic market making, the Company's cash trading business handles specialized orders and also transacts on the OTC Bulletin Board, the OTC Pink Markets and the Alternative Investment Market ("AIM") of the London Stock Exchange. The segment provides trade executions as an equities Designated Market Maker ("DMM") on the NYSE and NYSE Amex. The Market Making segment also includes the Company's option market making business which trades on substantially all domestic electronic exchanges.
Institutional Sales and Trading
The Institutional Sales and Trading segment includes global equity, exchange traded funds ("ETFs"), and fixed income sales; reverse mortgage origination and securitization; capital markets; and asset management activities. The primary business of the Institutional Sales and Trading segment is to execute and facilitate equities, ETFs and fixed income transactions as an agent on behalf of institutional clients, and commits capital on behalf of clients when needed. This is predominantly a full-service execution business, in which much of the interaction is based on the Company's client relationships. This segment also facilitates client orders through program and block trades and riskless principal trades and provides capital markets services, including equity and debt private placement.
Electronic Execution Services
The Electronic Execution Services segment offers access via its electronic agency-based platforms to markets and self-directed trading in equities, options, fixed income, foreign exchange and futures. In contrast to Market Making, the businesses within this segment generally do not act as a principal to transactions that are executed and generally earn commissions for acting as an agent between the principals to the trade.
Corporate and Other
The Corporate and Other segment invests in strategic financial services-oriented opportunities, allocates, deploys and monitors all capital, and maintains corporate overhead expenses and all other income and expenses that are not attributable to the other segments. The Corporate and Other segment houses functions that support the Company's other segments such as self-clearing services, including stock lending activities.
Discontinued Operations
Discontinued operations comprises costs associated with shutting down the Company's former Deephaven Capital Management business which was discontinued in 2009.
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