Tuesday, March 22, 2011

Starr Asia sues CCME and others

Presented without comment (antecedent post here):

Starr Asia sues CCME et al


Phil said...

You have presumably seen this John?


(Yes, I know: it's Zerohedge. Still, seems to be in your current line of interest!)

SilvioB said...

This is gold - the connected insider Star (Hank) now seeking to blame others - for his failure to do due diligence and properly investigate his investments. Or perhaps it is just a ruse to deflect attention from his initial dirty deal - that doesn't now look so good - who knows ?

Hank - come into the bubble bath- it is warm in here.

Bunga on

John said...

Hi John,

Out of curiosity, throughout your investigation, did you find any application of the Benford's Law?

F said...


What's most amazing to me about this is how little real diligence Star did. If you take it at face value, they commited tens of millions of dollars, including buying secondary shares from people with a significant information advantage, on the basis of a 10-K (and let's not forget those gaudy earnout targets).

Amazing - reminds me a little of the suits that came out when the subprime bubble burst.

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