Stratton Oakmont

From Wikipedia, the free encyclopedia - View original article

 
Jump to: navigation, search

Stratton Oakmont was a Long Island, New York, "over-the-counter" brokerage house founded by Jordan Belfort and Kenny Greene, and later bought by Danny Porush. Stratton Oakmont was the largest OTC firm in the country during the late 1980s and 1990s. The firm was responsible for the initial public offering of 35 companies, including Steve Madden Ltd., Hemesphere Biopharma, Dualstar Technologies, D.V.I. Financial, Paramount Financial, M. H Meyerson & Co., Czech Industries, M.V.S.I. Technology, Questron Technologies, and Etel Communications.

Alabama Securities Commissioner Joseph Borg pushed the formation of a multi-state task force which eventually led to the prosecution of Jordan Belfort after his office was inundated with complaints regarding the brokerage.[1]

In 1995 the firm sued Prodigy Services Co. for libel in a New York court, in a case that had wide legal implications.[2]

The Wolf of Wall Street is a biographical black comedy about Jordan Belfort and the investigation into the firm, directed by Martin Scorsese. Leonardo DiCaprio stars as Jordan Belfort[1] and Jonah Hill plays fictional character Donnie Azoff,[3] who is based on Danny Porush. The firm also inspired the film Boiler Room.[citation needed]

See also[edit]

References[edit]

  1. ^ a b Hubbard, Russell (21 March 2010). "Joe Borg, Alabama Securities Commission boss, has reputation of being tough on crooks". The Birmingham News. Retrieved 25 January 2011. 
  2. ^ Stratton Oakmont, Inc. v. Prodigy Services Co., No. 31063/94, 1995 WL 323710, 1995 N.Y. Misc. LEXIS 229 (N.Y. Sup. Ct. 1995).
  3. ^ Sacks, Ethan (June 17, 2013). "'The Wolf of Wall Street' Trailer Released Shows Leonardo DiCaprio at Debaucherous Best". NYDailyNews.com. Daily News, LP. Retrieved June 19, 2013.