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Sharesleuth is an investigative reporting website, created to investigate and report on instances of alleged securities fraud and corporate malfeasance. It was founded in July 2006 by American businessman Mark Cuban and business reporter Chris Carey, formerly of the ''
In early 2006, Carey approached Cuban with the idea of launching an investigative organization focusing on corporate fraud. Cuban was receptive to the idea, and offered to finance the venture. Within its first year, Sharesleuth articles on the publicly traded companies
St. Louis Post-Dispatch
The ''St. Louis Post-Dispatch'' is a major regional newspaper based in St. Louis, Missouri, serving the St. Louis metropolitan area. It is the largest daily newspaper in the metropolitan area by circulation, surpassing the ''Belleville News-Dem ...
''.
History
In early 2006, Carey approached Cuban with the idea of launching an investigative organization focusing on corporate fraud. Cuban was receptive to the idea, and offered to finance the venture. Within its first year, Sharesleuth articles on the publicly traded companies Xethanol Xethanol was one of the smaller producers of corn ethanol in the United States, and one of the few publicly traded companies developing technology for producing cellulose ethanol. Ethanol fuel will have increased production from a current level o ...
and UTEK
Innovaro, formerly known as UTEK Corporation, was a consulting company focused on innovation and software solutions. It was based in Tampa, Florida. It was founded by Clifford M. Gross in 1997. The company initial public offering was in October 2 ...
were followed by drops of over 35% in the stock price of each company. Sharesleuth has since reported on many other companies, including Kandi Technologies and Highland Mint, a firm that manufactured the coins used in the Super Bowl
The Super Bowl is the annual final playoff game of the National Football League (NFL) to determine the league champion. It has served as the final game of every NFL season since 1966, replacing the NFL Championship Game. Since 2022, the game ...
pre-game coin toss.
As a means of funding the site, Cuban typically shorts the stocks of the article subjects prior to publication, a practice which has drawn controversy. He has stated that the site has published articles on "literally anything that I have shorted".
Related sites
In October 2008, Cuban and Carey started a companion website, BailoutSleuth, for the purpose of tracking Troubled Asset Relief Program funds and bank activity in the wake of the2008 financial crisis
8 (eight) is the natural number following 7 and preceding 9.
In mathematics
8 is:
* a composite number, its proper divisors being , , and . It is twice 4 or four times 2.
* a power of two, being 2 (two cubed), and is the first number of t ...
and resulting bank bailouts. Pulitzer Prize
The Pulitzer Prize () is an award for achievements in newspaper, magazine, online journalism, literature, and musical composition within the United States. It was established in 1917 by provisions in the will of Joseph Pulitzer, who had made h ...
-winning journalists Gary Cohn
Gary David Cohn (born August 27, 1960) is an American business leader who served as the 11th Director of the National Economic Council and chief economic advisor to President Donald Trump from 2017 to 2018. He managed the administration's econo ...
of '' The Baltimore Sun'' and Russell Carollo
Russell John Carollo (March 16, 1955 – December 19, 2018) was an American Pulitzer prize-winning journalist, who worked as an investigative reporter for numerous publications, including the ''Dayton Daily News'', the ''Los Angeles Times'', ...
of the '' Dayton Daily News'' were hired in 2009–2010, the latter to handle Freedom of Information Act Freedom of Information Act may refer to the following legislations in different jurisdictions which mandate the national government to disclose certain data to the general public upon request:
* Freedom of Information Act 1982, the Australian act
* ...
requests. Unlike the for-profit Sharesleuth, BailoutSleuth was conceived as a nonprofit service. The site is no longer online.
In mid-2010 Cuban and Carey created another nonprofit website, JunketSleuth.com, to provide access to government travel spending records. As with Sharesleuth, Cuban provided the funding and Carey served as the investigative reporter. The site has since closed.
References
Further reading
*External links
*{{Official, http://sharesleuth.com American financial news websites