2007年,Overstock公司起诉过11位经纪人,声称他们此前通过帮助客户裸卖空这家位于犹他州的零售商而导致该公司股价下跌。在一项普通做空当中,股票先是在经纪人的帮助下被借入然后再卖掉。在裸卖空中,无须尝试借股或者标的股票。这就能够形成无法交割交易本该完成却不能完成,也扰乱了供给需求规律,突破可借股票数量这一自然限制而允许发生做空。
As the pre-trial discovery period proceeded, Overstock narrowed its focus to two firms,Goldman Sachs and Merrill Lynch, now part of Bank of America. Before the case was set to goto trial in California, however, the judge dismissed it on jurisdictional grounds, ruling that notenough of the alleged wrongdoing had taken place in the state. Overstock appealed andpushed for all of the evidence to be unsealed. The defendants objected. Four media groups,including The Economist, opposed a motion to seal on public-interest grounds. The judgedecided that some of the documents should be released but stayed his ruling, pendingappeal.
随着审前证据公开阶段的展开,Overstock把焦点锁定在两家公司上:高盛和美林,后者现在已经成为美洲银行一部分。然而,在案件即将在加州进入审判阶段前,法官基于司法权的理由不予受理,裁定在该州发生的所谓违法行为不足。Overstock提起上诉并力争公开所有证据。被告方反对。包括经济学人在内的四家传媒集团反对以公共利益为由而封存证据的动议。法官判定部分档案应当被公布,但维持原判,中止诉讼程序。
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