Forbes.com columnist Gary Weiss jumped on the investigative business journalism site ShareSleuth.com again, wondering why the site hasn’t written more stories and why it’s focusing on one company.
Weiss believes that’s because the site is being used to promote the investments of its majority investor, Mark Cuban.
Weiss wrote, “Sharesleuth.com slammed Xethanol for the third time the other day, proving yet again the difference between a billionaire’s private insider-trading tinker-toy and a genuine investigative reporting outlet.
“A genuine investigative reporting vehicle on the stock market (or a genuine investigative markets reporter like Herb Greenberg or Chris Byron) would have found more than two interrelated, marginal stocks to ‘investigate’ in a four-month period.
“A billionaire’s private insider trading vehicle, caring not a fig about the public interest, is free to pursue its owner’s profit to its heart’s content — in this case by again slamming a company it has already beaten into the ground.”
Read more here. Weiss notes that the comments on the site have made Cuban defensive.
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