Business Services Industry
Oklahoma's Attorney General Seeks Inquiry of Short Selling.
Knight Ridder/Tribune Business News, January, 2003
By Don Mecoy, The Daily Oklahoman Knight Ridder/Tribune Business News
Jan. 12--Pre-Paid Legal Services Inc. has enlisted Oklahoma Attorney General Drew Edmondson in its long battle against stock traders who profit when the Ada company's share price falls, a practice Edmondson would like to see banned.
"I can't see how it benefits anybody except the manipulators who make money off of it, and it ought to be illegal," Edmondson said.
Edmondson, who took in at least 28 contributions from Pre-Paid employees in the last election cycle, said he wrote a letter to federal regulators at the company's request asking for an investigation into short sellers who are betting that Pre-Paid's share price will decline.
Edmondson wrote to the...
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