Categories: OLD Media Moves

SEC subpoenas withdrawn

The Securities and Exchange Commission has withdrawn the subpoenas that it issued last year to Marketwatch columnist Herb Greenberg, Dow Jones Newswire reporter Carol Remond and “Mad Money” host Jim Cramer.

When the subpoenas were initially filed, they were widely criticized by journalists. SEC chairman Christopher Cox later spoke about them at the SABEW annual conference.

Greenberg, writing on his blog, wrote, “The subpoenas subsequently were put on ice and, in line with the latest Gradient action, withdrawn. The investigation was launched after Overstock (ostk) filed a lawsuit against Gradient, an independent research firm, and others. Later, Bioval (bfv) also sued. Fairfax Financial (ffh), which is an investor in Overstock, filed a suit of its own against several parties, but not Gradient.

“Affidavits connected with the Overstock suit, by former Gradient employees Dimetrios Anifantis and Robert Ballash, were filled with so many absurd statements, inaccuracies and innuendo about yours truly as to be laughable. As I wrote at the time, ‘If those are the facts, why would Anifantis and Ballash give sworn statements based on fiction and so far off the market as to be malicious. You’ll have to ask them, but my guess is that somebody somewhere didn’t want the facts to get in the way of a conspiracy theory.’

“Thankfully, the SEC has subpoena power to confirm (or not!) what has been alleged. Considering that the SEC gave Gradient a “no action” letter, which isn’t required when an investigation like this ends, you can’t help but wonder whether an embarrassed agency is trying to send someone a message.”

Read more here.

Recent Posts

WSJ’s Eisen to write book about the mortgage market

Wall Street Journal reporter Ben Eisen has signed a contract with Norton to write a book about…

1 hour ago

Reuters hires Krishnakutty as a news producer

Reuters has hired Pia Krishnakutty as a news producer. She has been at The Print as a…

1 hour ago

Indianapolis Biz Journal seeks a news editor

The Indianapolis Business Journal is looking for our next news editor, a role that focuses…

16 hours ago

Axios hires Berkowitz as ME for media and markets coverage

Axios has chosen Ben Berkowitz to be its next managing editor of business and markets.…

21 hours ago

Business Insider hires Ortega as director of newsroom operations

Business Insider editor in chief Jamie Heller sent out the following on Monday: I'm thrilled…

21 hours ago

Rest of World promotes Chandran to deputy editor

Rest of World editor in chief Anup Kaphle sent out the following on Monday: We are excited…

22 hours ago