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B. G., Opalesque Geneva:

On June 12, the U.S. SEC charged little-known investment adviser Sabby Management LLC and its managing partner, Hal D. Mintz, with fraud in connection with a long-running scheme involving misrepresentations and violations of rules for short selling and order making that generated more than $2m in illegal profits.

Sabby Management is a hedge fund company based in Upper Saddle River, NJ. They operate two private Cayman-domiciled funds, Sabby Healthcare Master Fund Ltd and Sabby Volatility Warrant Master Fund Ltd, and have approximately $700m in total AuM.

The SEC's complaint alleges that, from at least March 2017 through May 2019, Sabby and Mintz conducted unlawful trades in the stock of at least 10 public companies.

Short selling is a legal practice where, generally, a trader borrows a security from a security holder and sells the security at one price, speculating that the trader can buy the security at a lower price in the future before it must be returned to its owner. Naked shorting is the illegal practice of short selling shares that have not been affirmativel......................

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