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Article: DTCC Media Statement; Media Statement on Robert Shapiro's Report on Naked Short Sales.
- Article from:
- Business Wire
- Article date:
- March 16, 2006
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NEW YORK -- Robert Shapiro has admitted to DTCC he is a paid consultant for the John O'Quinn and Wes Christian legal firms, which have been suing DTCC with respect to naked short selling.
--Robert Shapiro's report is replete with errors, baseless numbers (e.g., estimated fails), faulty analysis that we believe mischaracterizes and misinforms.
--He ignores authoritative statements by SEC on these issues, which are readily available on the SEC Web site and reinforced in an amicus brief the SEC filed in support of DTCC in a recent legal proceeding. We believe he does this intentionally.
--Mr. Shapiro continuously misstates our role in the industry. ...