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America's savings and loan institutions. In its 24 year history, the law typically has been used to bring suit against officers and directors of failed institutions. The government now seeks to expand the statute's reach to include the institutions
In another high-profile settlement, a federal judge again scrutinized the Securities and Exchange Commission's willingness to settle charges with defendants without requiring the company to admit to any wrongdoing. A federal judge must determine
They wanted the Second Circuit to spank Judge Jed Rakoff for having the audacity to ask the SEC to kindly do its job...Well, securities law may not be as sexy as drone strikes , but I watched the SEC try to pull off just as naked an executive power
A former analyst at SAC Capital Advisors who has become a crucial informant in the government's insider trading investigations avoided prison on Wednesday after a judge sentenced him to probation. The former analyst, Wesley Wang, cooperated with the
Daniel Rosenbaum for The New York Times Robert Khuzami in his office at the Securities and Exchange Commission. Robert Khuzami, a former terrorism prosecutor who revamped the Securities and Exchange Commission 's enforcement unit, is stepping down
Galleon sold Goldman Sachs shares, and, in the process, avoided a loss of $3.8 million till December 16 when Goldman Sachs announced its results. The illegal gain to Galleon from the insider information was $5.03 million, less than a third of the $15.
Fred Prouser/Reuters Michael Milken, who was a symbol of Wall Street greed in the 1980s, has become a prominent philanthropist...Rakoff , the presiding judge in Mr. Gupta's case, made a surprising reference to Mr. Milken during the hearing...Mr.
17 pm Andrew Gombert/European Pressphoto Agency Adam Smith, a key witness in the trial of Raj Rajaratnam (pictured) was sentenced on Tuesday. Adam Smith, a former portfolio manager at the Galleon Group hedge fund who provided the government with
But for the prosecutors who have charged Mr. Gupta with insider trading, the most important notes taken by Ms. Webster at the meeting were a few lines that she dashed off about the Galleon Group hedge fund when reviewing her client's income streams:
At $850 an hour, Mr. Picard and his law firm, Baker & Hostetler, are starting to look more like the princes of the Full Employment Act for Lawyers than storybook heroes. In the last several years, Mr. Picard has brought more than 1,000 cases seeking