Saturday, February 07, 2015 3:59:39 PM
Lost a LOT of $$$ back when Shkreli & Co came out and trashed the company nonstop with their social media networks and websites a few years back. Clearly the man was right to a degree about Lymphoseek not being worth much, but still what he and his cohorts did was sickening and illegal, and I'd love to see the book thrown at him.
Investors could have lost enough on their own with a dud like Lymphoseek and didn't need the help of Shkreli to trash the stock. What he did with filing a citizen's petition to try and halt or delay the drug was just criminal, since he was a known shorter and had a financial interest in the destruction of the stock. In a way, what he did was nothing short of a pyramid scheme, and being either being born and raised in Albania during the 1990s, or having connections there, he likely new full well of how to scheme others into losing $$$$. I had relatives living there as missionaries for many years, and a lot of their friends unfortunately lost their entire savings to pyramid schemes.
The Rise and Fall of Albania's Pyramid Schemes
http://www.imf.org/external/pubs/ft/fandd/2000/03/jarvis.htm
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