Skepticism abounds regarding G Asset's "offer" for B&N

There's plenty of skepticism G Asset Management has the resources to make good on its latest Barnes & Noble (BKS) acquisition offer. One major reason: A 2012 Form D filing indicating the firm raised only $1.75M in an offering.

David Faber: "[G Asset] runs very little money and I mean very little. Not sure if he lives at home with his parents, but you get the idea."

B&N closed at $17.69, nearly 20% below G Asset's offer price.

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Comments (1)
  • Sandwah
    , contributor
    Comments (43) | Send Message
    He probably does live with his parents. His office at 527 Madison Ave, which he lists on his web page, is EMPTY. We called the leasing agent today. Also, he did this same ploy two years ago with BKS. Told the world he owned 3 mln shares. Well, he only owned 41k shares and the rest in out of the money penny call options. Naturally he sold his stock and options after the stock jumped - now he is at it again. He is using the public to greenmail his way in to some sort of wealth that has obviously eluded him so far using the normal and non-manipulation ways. WHERE IS THE SEC? This is a clear cut case of market manipulation.
    22 Feb 2014, 06:47 AM Reply Like
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