The CEO Of Overstock.com Took Out A Full Page Ad In The Wall Street Journal Mocking Steven Cohen

Business Insider – by LINETTE LOPEZ

Overstock.com CEO Patrick Byrne took out a full-page ad in this morning’s Wall Street Journal shredding billionaire Steven Cohen for his hedge fund’s indictment by a Federal Grand Jury earlier this week.

The firm, SAC Capital, has been charged with insider trading.  

Byrne’s animosity didn’t come out of nowhere — on a 20o5 conference call the CEO of Overstock.com said that “Sith Lords” were naked short-selling his stock and destroying the company. He later identified them to be SAC’s Steve Cohen and Michael Milken.

And indeed, last year a bunch of lawyers for major banks accidentally leaked emails describing how they allegedly short-sold the stock and leaked techniques to hedge fund clients.

Now that you know where all the hate comes from, check out the ad below (via Instagramognjenglisic)

“Congratulations on the indictment, Stevie, and remember: roll early, roll often. You friend Patrick M. Byrne, CEO of Overstock.com,” it reads. Major schadenfreude.

 

WSJ Steven Cohen ad

Read more: http://www.businessinsider.com/overstock-ceo-ad-mocks-steven-cohen-2013-7#ixzz2aI0O9kQN

One thought on “The CEO Of Overstock.com Took Out A Full Page Ad In The Wall Street Journal Mocking Steven Cohen

  1. Now the little guys have been digested by Wall Street dogs the greed will drive them to eating each other. I’ll enjoy watching this blood fest unfold. Winding up in filthy efficiency flats in Queens with shared bathroom privileges the pale squirming maggots will be pecked to death in the streets they once owned. Karma always prevails .

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