Daily Archives: January 21, 2009, 11:59 pm

Austria: Madoff-Exposed Bank Medici Reportedly on Brink of Collapse, Class Action May Be in Works

Austria’s Bank Medici has reportedly been hit hard by the alleged Madoff Ponzi scheme, to the point that it is on the brink of collapse.  Forbes reports that “former associates and banking sources say there is little hope for the five-year-old bank as investors have lost trust in the business.”  Two of Medici’s funds, Herald USA and Herald Luxemburg, with…

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Japan: FSA Fines Former Goldman Sachs Japan Co. Employee Y230,000 for Insider Trading

Japan’s Financial Services Agency has reportedly accepted the recommendation of the country’s Securities and Exchange Surveillance Commission to fine a former employee of Goldman Sachs Japan Co. Y230,000 for insider trading. On December 12, SESC made the recommendation which relates to a tender offer for REX Holdings Inc. in 2006. The SESC said the employee bought shares of now-delisted REX…

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Report: SEC Opens Inquiry into Apple’s Disclosures on Jobs’ Health

The SEC has reportedly opened an inquiry into Apple Inc.’s disclosures about CEO Steve Jobs’s health problems to examine whether investors were misled. Bloomberg reports that the nonpublic inquiry relates to Apple’s disclosures concerning Jobs, who earlier this month said he would remain CEO while seeking a “relatively simple” treatment for a nutritional ailment. Nine days later, however, Jobs said…

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