Appaloosa’s Short Sales on Wells Fargo Face SEC Probe (Update1)

Discussion in 'Wall St. News' started by Banjo, Mar 25, 2010.

  1. Banjo


    Two funds advised by Appaloosa sold short more than 1 million Wells Fargo shares from Oct. 31, 2008 to Nov. 5, 2008, the firm said in a letter to investors dated today. After the short sales, the two funds purchased 125,000 Wells Fargo shares in the bank’s secondary offering, which was announced after markets closed on Nov. 5, 2008, according to the letter.