Firm Credited with Success for Recent Court Decision in: "Is This the End of Naked Short Selling?"
10/26/2023 | Oil Price.comIn "Is This the End of Naked Short Selling?" an article originally published in OilPrice.com and picked up by Yahoo Finance and on various social media, Warshaw Burstein is lauded for the recent court decision in favor of their client, Harrington Global Opportunity Fund.
From the article:
The Heroes of the Day
"The plaintiffs in Harrington Global Opportunity Fund Ltd. v. CIBC World Markets, Inc et.al, represented by Warshaw Burstein, LLP, have every reason to celebrate.
"The judge’s ruling categorically means that going forward, big banks and financial institutions won’t just be fined for not actively closing shorts, they could be held liable for what so far has been an estimated trillion dollars in losses to retail investors, companies and the U.S. government.
“'Brokers can no longer claim that they are not liable for their customers’ trading activities because they are only following their directions. A broker can now be held primarily liable under the federal securities laws when they recklessly fail to monitor, detect and prevent the manipulative or fraudulent trading of their customers,' Warshaw Burstein said in a statement following the judge’s September 29 ruling."
