Drew Bernstein, Co-Managing Partner, Marcum Bernstein & Pinchuk LLP Quoted in MarketWatch.com Article “Sino-Forest on the Ropes Against Short-Seller”
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Drew Bernstein, Co-Managing Partner, Marcum Bernstein & Pinchuk LLP is quoted in the article “Sino-Forest on the Ropes Against Short-Seller” concerning how a company can fend off a determined party betting against stock?
In the article, Mr. Bernstein comments on what a company can do and if there is any recourse for shareholders?
“That is one of the major issues right now. When a short attacks a company and is substantially correct, the stock goes to pennies and bad things happen to the chairmen and directors”, Drew Bernstein, managing partner at Bernstein and Pinchuck LLP, told MarketWatch. “When it attacks and is substantially wrong and causes millions in damages, investors lose quite a bit of money but nothing happens [to the short-seller]”, he said.