Hashtag: #GEROVA
Gerova Legal Saga Continues
Another US court decision has gone against a man involved in a convoluted tale of short selling conspiracies and fraud revolving around a Bermuda financial services company. The most recent case resulted in Scott Hintz being taken back to prison on 9 February for three years for violating conditions of his probation after a guilty plea to bank fraud... Read more of this article
Gerova Lawsuit Filed In California
A San Francisco law firm has filed a complaint on behalf of Noble Investment Fund Limited claiming millions of dollars in investment losses in Bermuda’s Gerova Financial Group as a result of a “short and distort,” or “reverse pump and dump,” scheme that had the purpose and effect of artificially depressing the company’s... Read more of this article
Gerova Voluntarily Delists From The NYSE
Troubled Bermuda financial services company Gerova announced yesterday [Apr. 19] the firm has advised the New York Stock Exchange of its intention to voluntarily delist from trading. It will be filing a Form 25 with the US Securities and Exchange Commission in order to delist its common stock, warrants and units from trading on the NYSE and to... Read more of this article
Stillwater Investors Launch Gerova Lawsuit
An investor has filed a lawsuit in the U.S. District Court for the Eastern District of New York on behalf of Stillwater Funds shareholders who exchanged their investments for shares of Bermuda-based Gerova Financial Group, Ltd. in a January 20, 2010 transaction. According to the complaint the plaintiff alleges that Stillwater Capital Partners, Gerova and... Read more of this article
Wall Street ‘Safer Place Without Gerova’
The Forbes.com investor advocate who helped to expose allegations Bermuda reinsurer Gerova “was likely fraudulent” has applauded the New York Stock Exchange’s decision to suspend trading in the company’s shares — but added the delisting won’t be the last of the bad news for those who have put money into the troubled... Read more of this article
US Law Firm Investigating Gerova Claims
One of the premier US law firms in the areas of corporate, securities, and antitrust class litigation today [Feb. 28] announced it is investigating claims on behalf of investors in Bermuda-based Gerova Financial. Gerova is a Bermuda reinsurance and financial services group with its head offices in Cumberland House on Victoria Street. The investigation... Read more of this article
Seymour Pierce Terminates Merger Talks
British private investment bank and stockbroker Seymour Pierce called off its planned merger with Bermuda reinsurer Gerova Financial yesterday [Feb.25] because of mounting uncertainty about the company’s finances, “The Financial Times” has reported. The British business newspaper reports the decision earlier this month by... Read more of this article
Ticonderoga Breaks Off Gerova Talks
Broker-dealer Ticonderoga Securities said today [Feb. 25] it has ended merger talks with reinsurer Gerova Financial following the suspension in trading of the Bermuda reinsurer’ stock by the New York Stock Exchange. Earlir this week the NYSE halted trading in Gerova shares saying it was evaluating the need for further disclosures and the suitability... Read more of this article
NYSE Suspends Trading In Troubled Gerova
Gerova Financial Group, Ltd., the troubled Bermuda financial services company, announced today [Feb. 24] that the New York Stock Exchange has elected to halt trading pending the firm’s disclosure of additional information involving its operations, management restructuring and business plans. Gerova Chief Financial Officer Michael Hlavsa said:... Read more of this article
Keith Harris: ‘Gerova Talks Still On’
One of the leading deal-makers in British business was last night [Feb. 17] working to salvage a merger between his own Seymour Pierce investment bank and beleagured Bermuda reinsurer Gerova, according to UK media reports. Shares in Gerova Financial Group rebouded nearly 18 percent on the New York Stock Exchange amid reports British tycoon Keith... Read more of this article
Shares In Troubled Gerova Tumble On NYSE
Seymour Pierce, the British broker and private investment bank, could be close to seeing its £40 million takeover by Gerova Financial Group falter after the Bermuda-based reinsurer’s newly appointed chairman refused to take the role and shares in the troubled firm plunged by more than a third on the New York Stock Exchange yesterday [Feb 16]. Last... Read more of this article
Pelino Withdraws From Gerova Appointment
Just days after Bermuda-based Gerova announced Dennis L. Pelino’s appointment as the new president and chairman of the troubled firm’s board of directors, the entrepreneur and founder of Xinhua Finance Ltd. has withdrawn his name from consideration. The diversified financial services company, which operates out of Cumberland House... Read more of this article
Sweeping Changes At Troubled Gerova
Gerova Financial Group, Ltd., a diversified Bermuda financial services company, today [Feb. 11] announced a sweeping reorganisation of the board of directors and the management of Gerova. The company has accepted the resignation of four of the members of its board of directors, including Joseph J. Bianco, Keith Laslop, Arie Bos and Leonard de Waal. In... Read more of this article
Gerova Shares Plunge On NYSE
Shares in Bermuda-based Gerova have plunged in value after revelations the US Securities & Exchanges Commission had “serious doubts” about the worth of assets controlled by a money management firm the local insurer purchased last year. On the New York Stock Exchange, shares in Gerova closed at $21 yesterday [Feb.1] — down from a... Read more of this article
Gerova Unit’s Assets Questioned By SEC
Forbes today [Jan.25] reports the US Securities & Exchange Commission expressed “serious doubts” about the asset values of a money management firm purchased by Bermuda-based reinsurer Gerova last year. The value of Stillwater Capital Partners’ assets are of vital importance to Gerova, says the financial and business news outlet. “The... Read more of this article
Gerova Hires Kroll To Probe “Disinformation”
Gerova Financial Group, Ltd., the Bermuda-based diversified financial services company, said today [Jan. 18] it has retained the services of Kroll, the leading global intelligence and risk analysis firm, to investigate possible market manipulation and collusion aimed at driving down the price of Gerova’s stock. Gerova intends to make public the... Read more of this article
