23.2 F
Thursday, December 1, 2022

Three Men Charged in Stock Scam Involving $100 Million Deli

Must read

A deli in southern New Jersey was the vessel for an elaborate fraud scheme involving three men who managed to inflate the company’s stock-market value to $100 million, according to federal prosecutors and regulators.

The story of how Hometown International Inc.’s stock achieved such a lofty valuation was a mystery that played out in public last year. “The pastrami must be amazing,” hedge-fund manager David Einhorn wrote in a note to investors, before citing the stock as an example of how “the market is fractured and possibly in the process of breaking completely.”

Source link

More articles


Please enter your comment!
Please enter your name here

Latest article