SEC, Which Saw No Evidence Of Hedge Fund’s Fraud At First Glance, Sues Hedge Fund For Fraud (Deal Breaker)
As we’ve discussed, for most of Jay Clayton’s tenure as chairman, the Securities and Exchange Commission’s modus operandi has been to, well, not, whenever possible, especially when it came to those meddling whistleblowers. Now, however, SECers are unable to use that good federal wifi to play Fortnite or take boozy three-hour lunches at taxpayer expense or whatever else it was they were doing while not enforcing things or collecting fines or lackadaisically having a quick rifle through an alleged hedge fund’s papers, and so they’ve decided to, you know, actually do their jobs. And wouldn’t you know it but those usually annoying whistleblowers were totally on to something at TCA Fund Management?
Friday 5/15 Insider Buying Report: VVNT, CVS (Nasdaq.com)
On Tuesday, Vivint Smart Home’s Chief Executive Officer, Todd R. Pedersen, made a $327,981 purchase of VVNT, buying 25,367 shares at a cost of $12.93 a piece. Bargain hunters are able to pick up VVNT at a price even lower than Pedersen did, with shares changing hands as low as $11.68 in trading on Friday which is 9.7% below Pedersen’s purchase price. Vivint Smart Home is trading up about 2.4% on the day Friday. Before this latest buy, Pedersen purchased VVNT at 3 other times during the past twelve months, for a total cost of $663,210 at an average of $11.67 per share. And on Monday, EVP and President-CVS Caremark Alan Lotvin purchased $315,675 worth of CVS Health, purchasing 5,000 shares at a cost of $63.13 each. CVS Health is trading up about 0.1% on the day Friday. Bargain hunters can snag CVS even cheaper than Lotvin did, with shares changing hands as low as $61.71 in trading on Friday which is 2.3% under Lotvin’s purchase price.
The President & CEO of Penn National Gaming (NASDAQ: PENN) is Buying Shares (Analyst Ratings)
Today, the President & CEO of Penn National Gaming (PENN), Jay Snowden, bought shares of PENN for $500K. This recent transaction increases Jay Snowden’s holding in the company by 20.93% to a total of $2.84 million. In addition to Jay Snowden, one other PENN executive reported Buy trades in the last month.
SEC Charges Companies and CEO for Misleading COVID-19 Claims (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has announced charges in two cases involving companies that claimed in press releases to offer products to combat the COVID-19 virus – one against Applied BioSciences Corp. and one against Turbo Global Partners, Inc. and its CEO, Robert W. Singerman. The SEC previously suspended trading temporarily in the securities of Applied BioSciences and Turbo Global. According to the SEC’s complaint against Applied BioSciences, filed in federal court in the Southern District of New York, the company issued a press release on March 31 stating that it had begun offering and shipping supposed finger-prick COVID-19 tests to the general public that could be used for “Homes, Schools, Hospitals, Law Enforcement, Military, Public Servants or anyone wanting immediate and private results.”
