Ralph Nader is best known for using his public platform to promote consumer protection, humanitarianism or environmental protection issues. The five-time candidate for President of the United States and a member of the Green Party, however, is now using his platform to pump up shares of stock he apparently owns.
“John Malone’s offer to buy out Sirius XM Holdings Inc. (NASDAQ:SIRI)’s shareholders at $3.68 a share is ludicrous,” Ralph Nader said in a statement. “Sirius XM was trading over $4.00 a share just a few weeks ago and is a fast growing company with bright indicators and registers four stars by Standard & Poor’s which recommends a buy.”
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Ralph Nader reveals his financial interest in Sirius XM
Ralph Nader reveals his financial interest in Sirius XM in his statement when he links himself “with other shareholders” and then makes a strange bedfellow. “I am sure that I along with other shareholders in Sirius XM Holdings Inc. (NASDAQ:SIRI) will be interested in a legal challenge to John Malone’s company for lowballing Sirius XM’s shareholder value. Carl Icahn — take notice and interest.” Hedge fund investor Carl Ichan gained a reputation as a ruthless activist when he took controlling interest in TWA, Blockbuster and TimeWarner.
In December on CNBC Ralph Nader had reached out to Ichan to discuss investor rights in general. When asked if Mr. Nader had changed his standards by using his public platform to pump up the price of a stock he owns or associating himself with a man known with a reputation for brutal corporate downsizing, which was particularly the case in the TWA, Mr. Nader’s office did not respond by press time.