Issa's company DEI holdings appears to have screwed over its small shareholders to limit losses, gains for bigger shareholders by manipulating the rules and it's unclear if the SEC will investigate. This was in the business section on Thursday.
Basically, he took his biz DEI -- auto aftermarket biz - public with Goldman, made a ton of $ for his foundation didn't put any $ back into the biz and the stock crashed. And, share went so low that they essentially delisted themselves and then -- before they sold for for $4.46 a share in this year, forced a weird 1 to 240 and then 240 to 1 series of stock splits that required anyone who owned less then 240 shares to cash out and accept 88 cents a share. The little guys lost 23% more than than everyone else because of this. And, while clearly shitty it may also be illegal
But great reporting by Norris. Apologize if this was already covered but i've been surprised to not see it heavily linked too. I'm worried that because Floyd Norris -- a great business columnist for the Times -- broke it in his column it got ignored (cause only a few geeks like me read the biz section).