Justice Dept short-selling probe looks at trading in Amazon, Microsoft, JPMorgan: report
The investigation also seeks info from research firms Citron and Muddy Waters
FOX Business Flash top headlines for September 12
Check out what's clicking on FoxBusiness.com
The U.S. Department of Justice has subpoenaed some short sellers for trading information on firms including Amazon.com Inc, Microsoft Corp, and JPMorgan Chase & Co, as part of a short-selling probe, Bloomberg News reported on Monday.
The DOJ sent subpoenas over the past few months seeking details on transactions in several blue-chip stocks, according to the report that cited people familiar with the matter.
JP Morgan CEO Jamie Dimon looks on during the inauguration the new French headquarters of JP Morgan bank, June 29, 2021 in Paris. Dimon laid out a laundry list of big risks looming for the global and U.S. economy in his annual letter to JPMorgan Chas (AP Photo/Michel Euler, Pool, File / AP Newsroom)
AMAZON ACCUSED OF PRACTICING ANTI-COMPETITIVE BEHAVIOR
The DOJ last year also issued subpoenas to dozens of firms, including Citron Research and Muddy Waters Research LLC, as it probes potentially manipulative trading around negative reports on listed companies published by some of their investors.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 205.74 | -2.12 | -1.02% |
| MSFT | MICROSOFT CORP. | 422.99 | -5.00 | -1.17% |
| JPM | JPMORGAN CHASE & CO. | 249.76 | -0.14 | -0.06% |
The U.S. securities regulator has also said it has been considering measures that require big investors to disclose more about short positions, or bets that stocks will fall, and the use of derivatives to speculate on stock moves.
The DOJ, Microsoft, Amazon, and JPMorgan did not immediately respond to Reuters' requests for comment.
CLICK HERE TO READ MORE ON FOX BUSINESS
