Blowing The Whistle On A Famous Whistle BlowerGary Weiss
Whistle-blower. To Raymond L. Dirks, Wall Street's most storied securities analyst, the whistle-blower holds a special place of honor. No wonder. In 1973, while much of the Street looked on in derision--and the Securities & Exchange Commission cried foul--Dirks warned investors of a fraudulent stock, Equity Funding. In the years to come, Equity Funding went bust and Dirks was victorious, though it took a long and costly battle all the way to the U.S. Supreme Court. In the end, Ray Dirks, whistle-blower, was cleared of spreading inside information.
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