Gerova investigates report

Gerova Financial, the US group that last month agreed to buy Seymour Pierce, said yesterday it had hired risk analysis firm Kroll to investigate possible market manipulation and collusion aimed at driving down Gerova’s stock. Gerova is questioning a 10 December document which it said had been circulated by Dalrymple Financial. Gerova said the purportedly independent report was merely disinformation. It added that while the Dalrymple Document was printed and laid out to resemble a report by a reputable securities firm, it gave no address or phone number and was published on a Bulgarian website.