Couverture médiatique

The Globe and Mail

Andrew Willis - StreetwiseBlog

"There were rumours last week that BCE was running into problems passing a post-buyout solvency test, and market watchers say trading in the stock was abnormal.

--- Chatter about a possible solvency problem was making the rounds on Thursday and Friday of last week, and ...  data service Measuredmarkets Inc. said there was “deviant” or abnormal trading in BCE on both the TSX and NYSE."

Financial Post Published 24 November 2008

Barry Critchley

"For shareholders of Teck Cominco Ltd., the period from Nov. 10 to Nov. 14 was the week from hell as the value of their holdings fell by almost half. And the trading week just completed wasn't much fun either.  ---

For subscribers to the service provided by measuredmarkets.com. -- a service that alerts investors when a stock's trading pattern changes significantly from its normal behaviour -- it was a period characterized by a lot of seemingly unexplained activity."

Financial Times DEUTSCHLAND   17.07.2008

Financial Post Published: Tuesday, July 15, 2008

Barry Critchley

“…the founder of measuredmarkets.com., a company that alerts investors when a stock's trading pattern changes significantly from its normal behaviour, used the term "funny stuff " to describe some recent trading in shares of Duvernay OilCorp.”

DOW JONES NEWSWIRES
July 14, 2008 1:25 p.m.

“Duvernay Oil Corp's  had "unusual" trading in the weeks ahead of a friendly offer from Royal Dutch Shell PLC, Canadian financial research service Measuredmarkets Inc. said Monday. “

[also published at CNNMoney.com]

THE FINANCIAL POST

Barry Critchley

“Those patterns could indicate insider trading.”

http://www.financialpost.com/analysis/columnists/story.html?id=100af289-fede-488f-b9cc-a376781fee30

BNN – TV

‘Trading Day’ Martin Cej

“…something fishy in trading in takeout target Aspreva Pharma.”

Also reference to recent PRIME WEST deal.

Financial Times DEUTSCHLAND

“Business Scene”

Xiaobei Zhang

Rendez compte du commerce d'initié - global - et du rôle de la technologie, concernant Measuredmarkets Inc. Service.

Note :  L'émission et le texte sont en mandarine.

http://www.voanews.com/chinese/w2007-08-06-voa58.cfm

Financial Times 

Brooke Masters & Victoria Kim

“Sometimes the Measuredmarkets data appears spot on.”

Note:  the article was focused on data supplied by the company to the FT.

Financial Times

Victoria Kim & Brooke Masters

“Almost 60 per cent of the 27 big deals announced in North America so far this year were preceded by unexplained spikes in trading in the stock of the target company, according to a review of data by Measuredmarkets, a Toronto research firm.”

Mouvements étonnants de l'action de Nurun

Richard Dufour

«Il faut noter le volume extrêmement anormal le 22 mai, avec un volume fortement déviant le 30 mai et des transactions extrêmement déviantes le 30 mai. Tout cela, en l'absence de nouvelles publiques»

Note the unusually high number of TRADES on 10, 15, 22 & 24 May.  "Robert F.X. Sillerman, the Chairman and C.E.O. of CKX, Inc. announced, in response to articles and speculation appearing on the internet, that he and Simon Fuller, the C.E.O. of 19 Entertainment Limited, Inc., a wholly owned subsidiary of CKX, with support from certain other members of management, have made a proposal to the Company's Board of Directors to enter into a complex series of transactions which would include a cash purchase of the Company's outstanding common stock at a price of $13.75 per share." PRNewswire/FirstCall 6:09 pm ET 31 May 2007

Date	Price [close]	Volume	Trades	Total Deviation	Price Flags	Volume Flags	Trades Flags	TOTAL Flags
31/05/2007	10.63	318,168	1,000	0.00	0	0	0	0
30/05/2007	10.59	139,375	531	0	0	0	2	2
29/05/2007	10.54	189,757	801	0	0	0	0	0
25/05/2007	10.43	305,168	920	0	0	0	2	2
24/05/2007	10.39	502,978	2,531	0.456954	0	0	6	6
23/05/2007	10.81	323,865	1,567	0	0	0	0	0
22/05/2007	10.85	535,797	2,483	0.720189	1	0	7	8
21/05/2007	10.68	275,403	1,605	0.000007	1	0	0	1
18/05/2007	10.35	279,382	1,501	0.011311	1	0	0	1
17/05/2007	10.31	411,011	1,743	0.036735	2	0	0	2
16/05/2007	10.45	575,124	1,438	0.032283	1	1	0	2
15/05/2007	10.2	376,559	2,053	0.386337	5	0	3	8
14/05/2007	10.63	335,938	1,253	0.004293	1	0	0	1
11/05/2007	10.89	437,429	1,886	0.004595	0	0	1	1
10/05/2007	10.86	725,301	2,697	6.457807	1	6	8	15
09/05/2007	11.29	205,556	1,062	0	0	1	0	1
08/05/2007	11.41	383,051	1,874	0.07799	0	0	5	5
07/05/2007	11.59	429,871	1,677	0.000083	2	0	0	2
04/05/2007	11.17	314,158	1,372	0	0	0	0	0
03/05/2007	11.17	270,041	1,128	0	0	0	0	0

A long courtship, but no kiss-and-tell

Janet McFarland

"There isn't always misbehaviour in these things."

Les initiés profitent largement des fusions

LaPresseAffaires.com

Getting in on the insiders’ track

David Berman

"Very often, the aberrant trading patterns lead to other things than just mergers and acquisitions.It could be surprise earnings reports, surprise contracts, bad test results or things like that."

Insider Trading Run Amok

‘Trading Day’ with Pat Bolland

Insider Trading

Monica Bertran

Reference to Measuredmarkets Inc.’s studies done for Bloomberg and the New York Times

Moving Markets

Fred Langan

Market manipulation.

Die US-Börsenaufsicht hat den größten Betrugsskandal seit

Jahren aufgedeckt – und es ist wohl nicht der letzte Fall. Denn die Zahl der mutmaßlichen Manipulationen steigt neuerdings kräftig. Gerade Hedge-Fonds geraten immer öfter ins Visier der Fahnder

Heike Buchter

"Manche Leute wissen mehr als andere und nutzen das", warnt Christopher Thomas von Measuredmarkets, einer finanzanalysefirma, die auffällige Handelsmuster verfolgt

80’s Redux: Insider Trading on the Rise

Marcus Baram

"And a study last August by Measuredmarkets, Inc. demonstrated that insiders may have traded illegally just days before 41 percent of the previous years' largest acquisitions."

Insider-Trading Ring Bust in US May Fuel Hedge Fund Concerns

David Scheer

"A study by Measuredmarkets Inc. in August showed that insiders may have traded illegally in advance of 41 percent of the largest US acquisitions ...."

TXU trades ahead of deal

Melissa Lee

"Activity in TXU stock was also 'highly deviant', those are the words of Measuredmarkets which tracks these sorts of patterns, even on February 22nd which was two full trading sessions prior to the news of the deal."

Profiteer mee van insider trading

Kris Van Hamme

“De theorie dat markten efficiënt zijn, is complete nonsens.”

'Veel verdachte transacties rond fusies'

Kris Van Hamme

“De theorie dat markten efficiënt zijn, is complete nonsens.”

Algoma & Novelis

After the Close

“Something fishy….”

Algoma & Novelis

‘After the Close’

”Something fishy….”

Regulator calls for Algoma probe

Janet McFarland, Paul Waldie, Greg Keenan & Sinclair Stewart

“Measuredmarkets Inc., a Toronto-based research firm that specializes in market trading analysis, said the trading was clearly out of the ordinary.”

YM BioSciences trading activity

Jonathan Ratner

“Measuredmarkets' analysis demonstrates the deviant trading behaviour leading up to this ['plunged more than 56%'] in the trading activity…."

Where There’s Smoke..

ELECTRONIC INVESTOR - Kathy Yakal

"We thought then * -- and still think -- that Measuredmarkets has an intriguing and potentially lucrative idea, particularly in light of the recent merger boom."

* Reference December 1, 2003, comments in Barron’s Electronic Investor.

"Market researcher flags pre-deal JLG trading spike"

Kevin Drawbaugh, Washington

"Measuredmarkets Inc. research showed spikes last Wednesday in both volume of JLG shares traded, and in the number of trades. The activity did not appear to be explained by a specific news event...."

A representative of Measuredmarkets Inc. gave testimony at a Hearing of the United States Committee on the Judiciary – 26 September 2006.

"Illegal Insider Trading: How Widespread is the Problem and is there Adequate Criminal Enforcement?"

U.S. Senate Committee on the Judiciary - HEARING

Press coverage referring to Measuredmarkets Inc. included reports by the following news services and newspapers, among others:

A.P.; Bloomberg; Dow Jones; Reuters; Washington Post; Toronto Star

Interview re Senate testimony, broadcast several times

Niall McGee

"A Measured Approach"

Lori McLeod

Riding his data into the big time

"...announcements were regularly being made by companies a few days or weeks after they had hit Measuredmarkets' watch list. Apparent early tipoffs picked up by Measuredmarkets haven't just involved mergers, but also such corporate developments as contract wins and earnings misses."

Market Morning/Jim O’Connell

"Insider Trading Accompanies M&A Boom"

Business Report

Interview re New York Times :Whispers…." article and insider trading.

Interview re New York Times "Whispers…." article and insider trading.

Squawk Box

Interview re New York Times "Whispers…." article and insider trading.

The hot tips at issue in these cases involve an increasingly popular type of security called a "private investment in public equity." ['PIPEs']

“Measured Markets also identified unusual activity in one-third of the deals that lost value in the 30 days leading up to the PIPE.”

NEW YORK TIMES [& International Herald Tribune]  13 August 2006
Gretchen Morgenson & Jenny Anderson

NYTimes.com

"The flags produced by...  measuredmarkets.com showed there was unusual trading in the shares of Movie Distribution Income Fund even before the news officially emerged that two of its senior executives has departed"

National Post/FINANCIAL POST 24 July 2006
Barry Critchley - Off The Record

"...measuredmarkets.com reports 'deviant trading behaviour' prior to the deal being announced."

National Post/FINANCIAL POST 8 June 2006

Barry Critchley  - Off The Record

Report On Business Television
Broadcast 9 May 2006

"...the change in the pattern of behaviour of the stock smells distinctly."

"Note the very unusual trading ahead of the news announcement after the close on April 20,"

National Post/FINANCIAL POST  24 April 2006
Barry Critchley - Inside Finance

"Who knew what and when are key considerations to what was a bombshell announcement {re S.E.C. subpoenas} – 

...measuredmarkets.com — a firm that focuses on unusual trading —  ... showed unusual behaviour last Friday and the first two days of this week."

<<In the run-up to Dassault Systemes' (DASTY) $408 million acquisition of U.S.-based software firm MatrixOne Inc. (MONE) last week,
significantly more shares than normal of the U.S. company traded hands. …

Two days before Paris-based Dassault said it would buy MatrixOne,  … According to Measuredmarkets Inc., a web-based service that tracks anomalous trades in a company's stock, 24 "warning flags" went off that day. The maximum
number of flags a stock can possibly generate in one day is 27, according to Measuredmarkets' analysis.
The warning flags track pricing, volume and the number of transactions that go beyond a stock's normal range, according to Measuredmarkets. …On March 1, 903,646 MatrixOne shares traded hands, in 2,279 different trades - the highest number of trades in MatrixOne stock in a month, according to Measuredmarkets. >>

PARIS (Dow Jones NewsWires)--12:17 GMT - March 6, 2006

“For …  measuredmarkets.com., it was obvious something was going on at Mullen Group Income Fund long before the issuer announced a friendly deal to merge with Producers Oilfield Services Inc.”

National Post/FINANCIAL POST         17 February 2006 

Barry Critchley – Off The Record

“For … measuredmarkets.com, it was clear something was up at Lafarge North America long before yesterday’s blockbuster news that the French parent will be buying out the minority stake in its North American operations for US$75 a share.”

National Post/FINANCIAL POST 7 February 2006

Barry Critchley – Off The Record

CBC The National [Network News]

&

CTV National News

Both TV broadcasts PM 28 December 2005

CBC Newsworld – Business Report

&

CBC The National [Network News]

Both TV broadcasts PM 21 December 2005

CTV Network        “CANADA AM”

Broadcast 7 December 2005

National Post/FINANCIAL POST  6 December 2005

Trading Desk

“SIGNS OF A DEAL WERE THERE”

CTV National News – “Whistle Blower” segment

Broadcast PM 6 December 2005

"Some people seemed to know more than others, … And possibly took advantage of the situation to improve their performance or their investment position."