Daily Archives: August 31, 2021, 8:56 am

Robinhood Stock Drops After SEC Chairman Warns on Payment for Order Flow – WSJ

Shares of Robinhood Markets Inc. tumbled on Monday after the head of the Securities and Exchange Commission signaled that he was open to banning payment for order flow, a practice that accounts for most of the online brokerage’s revenues. Robinhood shares closed 6.9% lower after Barron’s published an interview with SEC Chairman Gary Gensler in which he said a full…

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Jury Selection Begins in Theranos Founder Elizabeth Holmes’s Trial – WSJ

Theranos Inc. founder Elizabeth Holmes heads to court Tuesday, as her legal team seeks to help assemble a group of impartial jurors to weigh the criminal-fraud charges filed against her, a task her lawyers say is challenging, given her case’s notoriety. Ms. Holmes’s legal team and prosecutors with the U.S. attorney’s office for the Northern District of California have been…

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Madoff Victims Get Second Crack at Citigroup’s $343 Million – Bloomberg

Victims of Bernard Madoff will get another chance at recovering $343 million from Citigroup Inc. after a federal appeals court overturned a ruling dismissing a claim against the bank. The U.S. Court of Appeals in New York on Monday reinstated a suit against Citi by Irving Picard, the trustee charged with recovering money for Madoff’s victims, over funds transferred to…

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