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Stock impact report

Short Seller's Winning Bet Means Permanent Payments to Jefferies [BNN Bloomberg (Canada)]

Jefferies Financial Group Inc. (JEF) 
Last jefferies financial group inc. earnings: 10/25 04:42 pm Check Earnings Report
Company Research Source: BNN Bloomberg
IsZo Capital can't close out its short position in Gordmans, a Nebraska-based retailer that filed for bankruptcy in 2017, because Jefferies won't let it, the hedge fund said in a lawsuit filed late Tuesday in New York state court. For years Jefferies “has collected fees for an outstanding loan of shares of stock that have been canceled and thereby rendered forever valueless,” IsZo said in its complaint. “Even assuming its motives are benign — a questionable assumption — defendant's continued refusal of plaintiff's requests to close the short sale is unjustifiable and inconsistent with the principles of equity.” Read More: Hedge Fund IsZo Says Jefferies ‘Hijacked' Its Brokerage Account It isn't the first skirmish between the two. In 2021 IsZo filed an arbitration complaint against Jefferies claiming that the investment bank had “hijacked” its prime brokerage account when IsZo wanted to move its business to a different brokerage. The hedge fund published an open letter criticizin Show less Read more
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