Thursday, February 15, 2007
Gradient Analytics, a research firm, announced that the SEC had completed its investigation into the firm without taking any action. The investigation was instigated by accusations from Overstock.com that Gradient wrote negative research reports in exchange for payments from a hedge fund. The investigation caused concern when the SEC subpoenaed records from three journalists. See NYTimes, S.E.C. Won’t Act in Research Firm Case and WSJ, SEC Declines to Bring Charges After Probe of Gradient Analytics.