Hedge Fund and Insider Trading News: Paul Singer, Bill Ackman, Steve Cohen, Soros Fund Management, Fortress Investment Group, Snap Inc (SNAP), Energous Corp (WATT), and More

Hedge Fund Adviser and Top Executives Charged with Fraud (HedgeCo.net)
(HedgeCo.Net) SBB Research Group, LLC, a Chicago-area hedge fund adviser and its two top executives have been charged by the Securities Exchange Commission with a multi-year fraud that inflated fund values. According to the SEC’s complaint, SBB Chief Executive Officer Samuel Barnett founded the firm in 2010 while still in college, raised millions from friends and family members, and invested almost exclusively in structured notes. The complaint alleges that as SBB sought outside investors, Barnett and Chief Operating Officer and Chief Compliance Officer Matthew Aven promised prospective investors that they would use “fair value” when recording investments. Instead, they used their own valuation model to artificially inflate the value of the structured notes.

Snap Inc (SNAP) CEO Evan Spiegel Sold $22.5 million of Shares (Guru Focus)
CEO of Snap Inc., Evan Spiegel, sold 1,537,712 shares of SNAP on 12/02/2019 at an average price of $14.62 a share. The total sale was $22.5 million. Snap Inc is a camera application developer. Its main product is Snapchat, a camera application created to help people communicate through short videos and images.

The COO & EVP, Engineering of Energous (NASDAQ: WATT) is Selling Shares (Analyst Ratings)
Yesterday, the COO & EVP, Engineering of Energous (WATT), Cesar Johnston, sold shares of WATT for $44.84K. In addition to Cesar Johnston, 3 other WATT executives reported Sell trades in the last month. The company has a one-year high of $11.54 and a one-year low of $1.89. Currently, Energous has an average volume of 597.66K.

Cardlytics Inc (CDLX) CFO David Thomas Evans Sold $1.3 million of Shares (Guru Focus)
CFO of Cardlytics Inc., David Thomas Evans, sold 22,000 shares of CDLX on 12/03/2019 at an average price of $56.86 a share. The total sale was $1.3 million. Cardlytics Inc is an operator of purchase intelligence platform. It solution Cardlytics Direct enables marketers to deliver advertising content to FI customers in the form of an opportunity to earn rewards.