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Jury Finds Against Former CEO of Kmart in Rare SEC Trial
On June 1, 2009, a jury returned a verdict in favor of the SEC on all charges in its case against Charles C. Conaway, the former CEO of Kmart Corp. The SEC announced today that the verdict followed a three-week trial in Ann Arbor, Michigan, before Magistrate Judge Steven D. Pepe of the United States [...]
Jury Finds Six Defendants Guilty of Conspiring in “Squawk Box” Case
The jury in the long-running “squawk box” prosecution returned a verdict of guilty on a charge of conspiracy yesterday for three former brokers and three former day traders. The defendants, who were from Merrill Lynch, Citigroup, and Lehman Brothers, allegedly conspired to misuse information from company squawk boxes for insider trading. Reuters reports that the [...]