Wolfson Accused of Stock Manipulation in AMC
SEC accuses Louis E. Wolfson of fraud and stock manipulation in American Motors shares and seeks a temporary ban on trading. A federal judge barred him from AMC dealings pending a Thursday hearing for a possible permanent injunction. Wolfson denies the charges, calling them ridiculous, while SEC weighs criminal action.
MENTIONED IN THIS ARTICLE
New York
UPI
Louis E. Wolfson
American Motors Corp
Securities & Excharpe Commission
Frederick van Pelt Bryan
AMC
Bryan
Wolfson
Jacksonville
Fla
American Motors
Florida
Wolfson accused of liquidating American Motors stake
The SEC charged Wolfson with selling his 460000 share holding of American Motors before a liquidation report. He also allegedly shorted 150000 shares hoping for a profit, and his Friday announcement that he was selling could have manipulated the price to profit from the short position.
MENTIONED IN THIS ARTICLE
SEC
Wolfson
American Motors
Welfson
New York Stock Exchange Transactions Tuesday Closing Prices
The report lists closing prices on the New York Stock Exchange for Tuesday. Stocks show daily gains and losses across major sectors with notable moves in industrials and finance. Investors monitor volume and price shifts as market mood fluctuates.
MENTIONED IN THIS ARTICLE
NEW York Stock Exchange
Stocks Fall Again as Market Slips and Activity Rises
In New York the stock market declined for the second straight session led by losses in major averages while active issues like American Motors and Penn-Texas traded with notable volume. News of a federal restraining order against Louis Wolfson spurred richfield and other oil plays, offsetting gains in some names.
MENTIONED IN THIS ARTICLE
ED Morse
New York
Associated Press
American Motors
American Metors
Penn-Texas
STOO
Leopold D. Silber
Louis
Stern
Wolfson
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