Story | Jul 19, 2013 | 7:32 PM
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Story | Jul 30, 2013 | 5:00 PMThe U.S. attorney in Manhattan last week announced the criminal indictment of hedge fund SAC Capital Advisors. Some may wonder what is to be gained by the effort and expense. Unlike the case of hedge fund mogul Raj Rajaratnam, who went to prison in 2011 after his conviction for insider trading, here there is no body to jail. And the fine that might be imposed could be obtained more easily in a civil suit, where the standard of proof is lower. Indeed, the cost of the criminal prosecution may be duplicative since civil suits have been won for some of the illegal transactions, and more are in the works.
Story | Mar 1, 2011 | 4:34 PM
Former Goldman Sachs board member Rajat Gupta is being accused by regulators of passing along inside information about the bank to a prominent hedge fund manager. Gupta gave up his post on Goldman’s board last May after being alerted that...
Story | Mar 8, 2011 | 4:34 PM
Gold: Trading now at $1,434 per ounce, unchanged from Monday. Dow Jones industrial average: Trading now at 12,167.27, up 0.6% from Monday. On your marks. The highly anticipated trial of Raj Rajaratnam gets underway Tuesday with jury selection --...
Story | Mar 18, 2011 | 4:34 PM
A former Goldman Sachs board member accused by regulators of passing along confidential corporate information is suing the Securities and Exchange Commission, arguing that the agency “unfairly and unconstitutionally” singled him out. The SEC...