The U.S. Justice Department is pursuing a wide-ranging investigation of short-sellers and potentially manipulative trading tactics meant to drive down shares, people familiar say
The U.S. Justice Department has seized hardware, trading records and private communications in an effort to prove a wide-ranging conspiracy among investors who bet against corporate shares, the people said.
One tactic under investigation is “spoofing,” an illegal ploy that involves flooding the market with fake orders in an effort to push a stock price up or down, they said. Another is “scalping,” where activist short sellers cash out their positions without disclosing it.
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