Siete
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- May 19, 2014
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why am I not surprised ?
Trump's company tricked investors. Here's how
Trump Hotels & Casino Resorts, a once publicly traded company whose shares dropped more than 90% when the firm sought bankruptcy protection, was charged in 2002 by the Securities and Exchange Commission for reporting financial results in a way that made it appear the company was doing better than Wall Street analysts expected due to "operational improvements," the complaint said. But that was a "false and misleading impression" that initially fooled investors into driving the stock price higher, the SEC said.
Trump's company tricked investors. Here's how
Trump Hotels & Casino Resorts, a once publicly traded company whose shares dropped more than 90% when the firm sought bankruptcy protection, was charged in 2002 by the Securities and Exchange Commission for reporting financial results in a way that made it appear the company was doing better than Wall Street analysts expected due to "operational improvements," the complaint said. But that was a "false and misleading impression" that initially fooled investors into driving the stock price higher, the SEC said.