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Trustee demands return of nearly $55 million in alleged “fraudulent transfers” to Libyans.
Get caught up with the Securities Docket News Wire for June 17, 2011.
The risk of an expanded application of R.C.O.D. is real for officers and directors.
There are still no laws to prevent congressional insider trading.
Prosecutors say Jiau provided nonpublic information “to the decimal point” about companies.
Now, SEC officials are focusing on the question of whether the ratings companies committed fraud by failing to do enough research to be able to rate adequately the pools of subprime mortgages and other loans that underpinned the mortgage-bond deals, according to people familiar with the matter. Read more: Raters Drawing SEC Scrutiny — WSJ
Banks are pushing the offers on claims to roughly 70-75 cents on the dollar.