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The “overwhelming” evidence against ex-Galleon Group trader Zvi Goffer includes “devastating” wiretapped telephone calls in which he’s heard sharing illegal tips, a prosecutor told jurors at the close of the insider trading case. Assistant U.S. Attorney Richard Tarlowe Wednesday urged jurors in Manhattan federal court to convict Goffer, his brother Emanuel and accused accomplice Michael Kimelman, as closing arguments began. Jury deliberations may begin Thursday after defense attorneys’ arguments.
Read More »‘The government has it wrong’
Raj Rajaratnam, co-founder of the Galleon Group hedge fund, relied on newspaper articles, research reports and his company’s own analysis for information to make stock trades, not insider tips, his lawyer said at the opening of his criminal trial.
Read More »Ex-Ernst & Young executive Coplan gets three years
Former Ernst & Young LLP executive Robert Coplan was sentenced to three years in prison for selling illegal tax shelters to wealthy clients that cost the U.S. government as much as $2 billion. U.S. District Judge Sidney Stein in New ...
Read More »Bank of America judge bars testimony of news reports
Bank of America Corp. suffered a setback in its defense to civil charges that it misled investors after a judge ruled that it may not introduce at a trial testimony about media reports predicting it would pay bonuses. The U.S. ...
Tagged with: Bank of America lawsuit Merrill Lynch & Co. proxy statement U.S. Securities and Exchange Commission year-end bonuses
Read More »Raj Rajaratnam, Chiesi deny insider-trading charges
Raj Rajaratnam, the billionaire Galleon Group founder, and Danielle Chiesi, an executive at New Castle Funds, pleaded not guilty to federal charges that they used inside information to profit from stock trades. The two were indicted on Dec. 15 in ...
Tagged with: Danielle Chiesi Galleon Group illegal profits insider trading New Castle Funds Raj Rajaratnam
Read More »Merck wins dismissal of Fosamax case set for trial
Merck & Co. won dismissal of the second case scheduled for trial over claims its osteoporosis drug Fosamax caused so-called jaw death. U.S. District Judge John Keenan in Manhattan ruled in Merck’s favor in an opinion Monday. Keenan said that ...
Tagged with: Fosomax jaw death Merck
Read More »Cohmad’s Jaffe seeks dismissal of SEC, Picard counts
Robert Jaffe, the vice president of Cohmad Securities Corp., asked judges to dismiss claims in lawsuits against him by the Securities and Exchange Commission and the trustee for Bernard L. Madoff Investment Securities LLC. Jaffe filed his dismissal requests Friday ...
Tagged with: Bernard L. Madoff Investment Securities Cohmad Securities Corp. Robert Jaffe
Read More »EEOC files suit against AT&T for alleged age discrimination
AT&T Inc. was sued by a U.S. agency for allegedly discriminating against older workers through its policy of refusing to re-hire employees who retire from the company. The Equal Employment Opportunity Commission, which enforces anti-bias laws, filed the lawsuit Thursday ...
Tagged with: AT&T Equal Employment Opportunity Commisssion
Read More »Book to be judged by its cover
The sculptor who created the “Charging Bull” statue near Wall Street sued Bertelsmann AG’s Random House and two authors of a book about the collapse of Lehman Brothers Holdings, claiming they’re unfairly profiting from his copyrighted work. Arturo Di Modica ...
Tagged with: Arturo Di Modica Charging Bull Random House Wal-Mart Stores
Read More »Madoff gets 150 years for epic fraud
Bernard Madoff was sentenced to 150 years for masterminding the largest Ponzi scheme in history, six times longer than the penalties meted out to the chief executives of WorldCom Inc. and Enron Corp. Madoff appeared in court Monday before U.S. ...
Tagged with: Bernard Madoff
Read More »Grand jury indicts Somali accused in pirate attack
A Somali captured last month after U.S. Navy commandos freed an American cargo-ship captain held by pirates off the Horn of Africa was indicted by a U.S. grand jury. The 10-count indictment against Abduwali Muse charges him with piracy, violence ...
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