Paul Berliner (trader)

Paul S. Berliner is an American who formerly worked as a trader associated with the brokerage firm Schottenfeld Group. In April 2008 he was simultaneously charged by/settled with the U.S. Securities and Exchange Commission for allegedly spreading a rumor designed to lower the stock price of Alliance Data Systems [1] Berliner allegedly had sold short borrowed stock of Alliance Data Systems, hoping to profit by repurchasing the stock when the price fell. He settled the charges without admitting or denying any wrongdoing by disgorging profits, paying a fine, and agreeing to a permanent bar from associating with any broker or dealer.[2]

References

https://www.sec.gov/news/press/2008/2008-64.htm SEC press release
https://www.washingtonpost.com/wp-dyn/content/article/2008/04/24/AR2008042403443.html Ex-Trader Settles SEC Claims That He Spread Lies About Blackstone Deal Washington Post, April 24, 2008

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.

[1] ttps://www.sec.gov/news/press/2008/2008-64.htm SEC press release

[2] ttps://www.washingtonpost.com/wp-dyn/content/article/2008/04/24/AR2008042403443.html Ex-Trader Settles SEC Claims That He Spread Lies About Blackstone Deal Washington Post, April 24, 2008