With Larmore on Trial for WeWork Fraud Yacht Stopped Before International Water for Trading

October 17 below the paywall / subscribe (support) line here

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, Oct 17 –   Seven months ago, Manhattan Federal prosecutors unsealed an Indictment charging JONATHAN MOYNAHAN LARMORE with tender offer fraud and securities fraud in connection with LARMORE’s announcement of a fake tender offer to manipulate the stock price of WeWork, Inc.   

 They said LARMORE is alleged to have announced a false $77 million tender offer for WeWork stock, news of which immediately led investors to buy WeWork stock at fraudulently inflated prices during after-hours trading, in an effort to drive up the value of his WeWork call options and shares.   On October 16, with the trial on before U.S. District Court for the Southern District of New York Judge Paul A. Engelmayer Inner City Press live tweeted to the end of the trial day - and beyond, when it got interesting, here on X for Subscribers and on Substack here.  First, the thread:

AUSA: What did you mean here, "Get it live"? Witness: Get the website up. Get it indexed in Google. AUSA: And these messages? Witness: It's me and Jon Larmore, launching the web site. He asked me to call him.

AUSA: What did you discuss? Witness: The press release AUSA: Then what did you do? Witness: I found I needed a press release agency. I Googled and found BusinessWire.

AUSA: What do they do? Witness: Help get articles out to like Yahoo News and big blogs. AUSA: GX 1307, you texted Mr. Larmore about it? A: Yes  AUSA: What were they proposing? Witness: To acquire over 50% of WeWork. Judge: Let's break here.  

Then things began to get interesting But wait there's more: with jury gone, AUSA tells judge Larmore get a Mr. Cochrane & his family T-shirts about "Getting Larmored, meaning getting blind truck. This witness was on the yacht on Nov 3, it was said, the SEC is going to be mad 

Even more: The defense lawyer objects to the AUSA talking about a couple moving their young child while drunk - home was nearby, it was a stroller, not a car, lawyer says, adding that "I've been accused of it too and I don't appreciate it." Judge: Don't go there.

October 17 below the paywall / subscribe (support) line here