Bruce Carton over on Securities Litigation Watch points out that the latest issue of Fortune magazine has an article on our favorite (alleged) Insider Trading scammers. It’s got everything! Juicy details from the SEC interview with David Pajcin to the first ever media interview with Eugene Plotkin. Hotness.
The article states that in response to the SEC's question, Pajcin
admitted advising many of the people involved in the case to buy Reebok, but only because he thought the stock was a bargain, not because he knew anything about a pending merger.
Plotkin held forth for the better part of seven hours on that subject, talking at mind-numbing length about the metrics he said he had applied to the stock. The SEC's Black then summarized this at length, concluding, "Have we covered all the components of your analysis with respect to Reebok specifically that you can remember, sitting here today?"
Pajcin added a few things: "The correlation of volatilities, historical and implied in terms of the S&P and just a general strong dropoff in the five-day volatility, making new highs, so those are all things I look at."
Pajcin might be a crook but at least he’s a crook whose got nonsense financial speak down cold.
Alleged crook. Whatever.
Fortune Article: "Partners in Crime" [Securities Litigation Watch]