(New York Post) The hedge fund at the center of a municipal union kickback scheme just got kicked in the pants again.
Platinum Partners, which allegedly paid a $60,000 kickback to Norman Seabrook, the then-president of the New York City Correction Officers’ Benevolent Association, or COBA, saw the shares of its second-largest public holding crater by 17.3 percent on Monday, to $1.48.
Platinum-controlled Echo Therapeutics took the hit after Nasdaq informed it following the market close on Friday that it will be delisted July 12 because it failed to meet the minimum $2.5 million stockholders’ equity requirement.
