TheStreet.com, Cramer Get Subpoenas in Gradient Probe
An affidavit filed by a former Gradient employee, Demetrios Anifantis, claims that Greenberg, while working at TheStreet.com, coordinated the "content and timing'' of his stories on Overstock with Gradient, which at the time was called Camelback Research Alliance. Anifantis also claims one of Greenberg's former research assistants, Brian Harris, was "retained by Camelback to draft research reports on particular companies.''
Greenberg has written several columns refuting the allegations, claiming Byrne's allegations of collusion between himself, Gradient and short-sellers is "silly.''
In a MarketWatch column Friday, Greenberg wrote that the subpoena sought unpublished communications, including emails and phone records, between him and people he has quoted. He said the SEC sought the information in reference to five companies.
"Never mind that I have never written about one of those companies," Greenberg wrote. "And never mind that the other four (yes, including Overstock) deserved every word I wrote -- and then some ... I don't plan to be bullied into changing the way I do anything."In an earlier column, Greenberg said he didn't first write about Overstock until October 2004, which was after he had already left TheStreet.com. He said Harris had a brief tryout with Gradient during the fall of 2004, but was never offered a job. Harris no longer works for TheStreet.com. He declined to comment for this article. David Morrow, the editor-in-chief of TheStreet.com, said, "These allegations about Herb and Brian are so ludicrous, they're almost funny."
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