BayStar being probed

Looks like BayStar is being probed by the SEC. From the article:
“The U.S. Securities and Exchange Commission is looking at whether hedge funds, tipped off to Pipe deals by brokers, made bets against the companies' stocks before the deals were consumated and publicly announced,” according to the WSJ.
Usually such “bets” are in the form of short sales, sometimes “naked short sales.”
WSJ said BayStar Capital, a California hedge fund, is specifically being probed.
As is almost always the case with SCO news, you can get more info over at Groklaw.
–jeremy