Apparently Sharesleuth's investigations take a very, very long time. The last article was published in August. And now at the end of September we have a follow-up. This kind of delay is probably a good thing, since the website employs just one reporter and aims at accurate, investigative articles uncovering corporate fraud and misdeeds. But just how is Sharesleuth picking its targets? Gary Weiss points to one possibility--Mark Cuban's short portfolio.
When Mark Cuban's Sharesleuth insider-trading vehicle performed a hatchet job on a little company called Xethanol in early August, Cuban disclosed some unfinished business: he had taken a short position in not just Xethanol, but also a company called UTEK, a Xethanol shareholder.
The UTEK short position was "underwater," Cuban disclosed at the time.
Well, Sharesleuth's second article has come out, and it is about a company called (surprise surprise) UTEK!
Mark Cuban's Unfinished Business [GaryWeiss.com]