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Tuesday, July 02, 2024 6:56:24 PM
“Short-swing trading is defined as the purchase and sale (or vice versa) of a company’s stock within a six-month period by persons deemed to be ‘insiders,’ who are presumed to have access to confidential corporate information not generally available to other participants in the public mar-ket.” Morales v. Quintel Ent., Inc., 249 F.3d 115, 121 (2d Cir. 2001). An insider is “a person who is directly or indirectly the beneficial owner of more than 10 percent of any class of any equity security.” 15 U.S.C. § 78p(a)(1). The SEC’s regulations do not require that a single person own more than 10%. Instead, a “per-son” will be“deemed a beneficial owner pursuant to section 13(d) of the [Exchange] Act and the rules thereunder.” 17 C.F.R. § 240.16a-1(a)(1); Morales, 249 F.3d at 122. And § 13(d) states that a beneficial owner can be a “group.” 15 U.S.C. § 78m(d)(3) (“When two or more persons act as a . . . group for the purpose of acquiring, holding, or disposing of securities of an issuer, such . . . group shall be deemed a ‘person’ for the purposes of this subsection.”). Consistent with § 13(d), Rule 13d-5(b) states that a group is formed when “two or more persons agree to act together for the purpose of acquiring, holding, voting or disposing of equity securities of an issuer.” 17 C.F.R. § 240.13d-5(b)(1); see alsoRoth v. Jennings, 489 F.3d 499, 507–08 (2d Cir. 2007). That agreement “may be formal or informal and may be proved by direct or circum-stantial evidence.” Morales, 249 F.3d at 124. Finally, to be held liable under § 16(b), a trader must be an insider at the time of both purchase and sale. 15 U.S.C. § 78p(b). And both trades must take place within a six-month window. Id
Augenbaum v. Anson Investments Master Fund LP et al, No. 1:2022cv00249 - Document 142 (S.D.N.Y. 2024)
Court Description: MEMORANDUM OPINION AND ORDER re: 123 MOTION to Dismiss the Amended Complaint. filed by Empery Tax Efficient, LP, L1 Capital Global Opportunities Master Fund, Brio Capital Master Fund Ltd., Empery Debt Opportunity Fund, LP, Emp ery Asset Management, LP, Iroquois Master Fund Ltd., Anson Investments Master Fund LP, Empery Asset Master, LTD., M3A LP, Iroquois Capital Investment Group, LLC, CVI Investments, Inc., Brio Select Opportunities Fund, LP. For these reasons, the defendants' motion to dismiss is DENIED. The Clerk of Court is directed to close Dkt. 123. SO ORDERED. (Signed by Judge Arun Subramanian on 1/24/2024) (jca)
Funds involved in this lawsuit:
Anson Funds Management LP and its affiliates
Ayrton Capital, Altos Opportunity Fund and their
affiliates
Crede Capital Group, Acquitas Capital and its affiliates
CVI Investment, Heights Management, SIG and their
affiliates
Connective Capital and its affiliates
Empery Asset Management and its affiliates
Intracoastal Capital LP and its affiliates
Hudson Bay Capital Management and its affiliates
Ionic Venture LLC and its affiliates
Lind Partners and its affiliates
Li Capital Global Opportunities Master Fund and their
affiliates
Sabby Management LLC and its affiliates
https://law.justia.com/cases/federal/district-courts/new-york/nysdce/1:2022cv00249/573076/142/
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TA, Tesla is going up because it beat Wallstreet expectation which had to be lowered for it to "beat expectations". It was 448k in May and dropped to 436k with Tesla exceeding 436k. Its being pumped for SpaceX offering. Tesla is a fake it until it makes it scam and whats going on is further illustration of it. Of course youd be part of the short and distort here and the pump n dump there.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174085276
SpaceX Reportedly Valued At Around $210 Billion In Planned Secondary Market Share Sale
No wonder TSLA is being pumped right now, theres an offering for SpaceX ongoing. I should have known. As the two companies share shareholders and they sell their Tsla profits to help fund SpaceX offerings. The same thing happened last year around this time.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174694262
Could it be that there is a strategy to distract people away from looking at the basic data?
Is all this an exercise to create more and more forum verbiage to drown out any serious discussion of evidence?
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