Michael Steinberg, a top portfolio manager at Steven A. Cohen’s SAC Capital Advisors hedge fund, was found guilty on Wednesday on charges that he traded on insider information. A federal jury in Manhattan found Steinberg, 41, guilty on all five counts of conspiracy and securities fraud that he faced. Prosecutors […]
Frauds & Scandals
JPMorgan blocked probe in Madoff case: government official
A U.S. Treasury Department watchdog tried to examine whether JPMorgan Chase & Co (JPM.N) interfered with a regulatory probe into its relationship with convicted felon Bernard Madoff but the largest U.S. bank was able to nip the inquiry in the bud, a government official said on Monday. The U.S. Treasury […]
Nasdaq fails to win dismissal of Facebook IPO lawsuit
A federal judge has rejected Nasdaq OMX Group Inc’s bid to dismiss lawsuits by investors who accused the exchange operator of botching Facebook Inc’s $16 billion initial public offering, a decision released on Monday shows. Nasdaq had argued that its status as a self-regulatory organization (SRO) gave it immunity from […]
