date:Jul 24, 2014
law, according to the regulators website.
Short-sellers like Ackman can openly criticise a company as long as they believe what theyre saying, said Adam Pritchard, a former SEC senior counsel who now teaches law at the University of Michigan.
The major constraint here is, whatever he says has got to be either true or he has to have a good reason for believing its true, Pritchard said. If he believes one thing and is saying another, thats a problem. If he has a good-faith belief, then hes in t