The Mysterious London Traders Accused of Manipulating Oil Markets — and the Anonymous Hedge Fund, Rare- Coin Expert, and Day Traders Who Are Fighting Back
In an article published in Institutional Investor discussing market manipulations, Sam Lieberman (Partner) was quoted.
"The legal allegations afoot are not just specific to oil price manipulation," says Sam Lieberman, a partner in the securities litigation group at law firm Sadis & Goldberg, but encapsulate the totality of the dysfunction witnessed in the market the day oil prices turned negative.
"There were a lot of people who were on trading platforms that wouldn’t allow them to exit the market when prices went below zero," he says. "Traders were not just deprived of selling, but also buying, which, when you consider how much the market needed that natural upward pressure, is truly astonishing." He says the downward pressure on the market, combined with some traders’ inability to buy or sell below zero, may have made the market more susceptible to manipulation.
