SEC Probes Research Tied To Naked Shorting: Report

Law360, New York (November 21, 2005, 12:00 AM EST) -- The Securities and Exchange Commission is investigating a financial research firm over allegations it conspired with a hedge fund to drive down the share prices of online retailer Overstock.com, according to a published report.

The Salt Lake Tribune said it had obtained documents showing inquiries have been under way since at least October 6, when three former employees of the financial research firm Gradient Analytics Inc. were questioned by San Francisco SEC officers.

In letters dated October 11, Mark Fickes, an attorney with the SEC's Division...
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