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WASHINGTON (AP) - Business reporter Herb Greenberg said Friday the Securities and Exchange Commission subpoenaed him, then withdrew the subpoena after he wrote about it on the MarketWatch Web site.
Greenberg, a veteran financial reporter, said the subpoena was part of the SEC's investigation of the research outfit Gradient Analytics. "The subpoena seeks 'all' unpublished 'communications,' including e-mails and phone records, between me and people and organizations I've quoted — and at least one I've never quoted — regarding five stocks," Greenberg wrote.
One of those companies, the online retailer Overstock.com, has filed suit against Gradient and the hedge fund Rocker Partners. The suit charged that Rocker paid for and edited false and libelous reports from Gradient, so it could profit from an expected drop in Overstock.com's stock price.
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