A New York-based company that manufactures soap-filled sponges filed a lawsuit in New York State court Thursday claiming it was the target of a “short and distort” stock market manipulation scheme that involves a New York Post business reporter.
“Sykes is the wunderkind who turned himself into a millionaire using his bar mitzvah money and shorting his way through penny stocks. He founded hedge fund firm Cilantro Fund Management which closed in 2007. Sykes now sells advice on trading in the penny stock market.
“As evidence that Whitehouse had teamed up with Sykes in its alleged campaign against the company, SpongeTech claimed that the reporter used Sykes as an ‘expert.’
“The lawsuit also claimed that David Patch, who posts to various investor online sites, sent complaints to the Securities and Exchange Commission about SpongeTech which he copied to Whitehouse and other news organizations.”
Read more here.
Former CoinDesk editorial staffer Michael McSweeney writes about the recent happenings at the cryptocurrency news site, where…
Manas Pratap Singh, finance editor for LinkedIn News Europe, has left for a new opportunity…
Washington Post executive editor Matt Murray sent out the following on Friday: Dear All, Over the last…
The Financial Times has hired Barbara Moens to cover competition and tech in Brussels. She will start…
CNBC.com deputy technology editor Todd Haselton is leaving the news organization for a job at The Verge.…
Note from CNBC Business News senior vice president Dan Colarusso: After more than 27 years…