An Alberta Securities Commission panel has rejected a staff application to prevent short seller Marc Cohodes from trading shares of Badger Daylighting (BAD.TO). The decision was announced late Wednesday afternoon.
Earlier this month, ASC staff applied for an interim cease trade order against Cohodes. Staff also sought to bar him from spreading “misleading or untrue” statements about the Calgary-based hydro-excavation company.
The application stemmed from a June 27 tweet by Cohodes, which ASC staff said “misrepresented” the company’s activities.
At the time of the application, a lawyer for Cohodes said the short seller deemed the ASC staff’s allegations to be “baseless.”