Daily Archives: July 8, 2022, 8:24 am

Theranos Executive Ramesh Balwani Found Guilty of 12 Counts of Fraud – The New York Times

Ramesh Balwani, a former top executive at Theranos, was found guilty on Thursday of 12 counts of fraud, in a verdict that was more severe than that of his co-conspirator, Elizabeth Holmes, and that solidified the failed blood-testing start-up as the ultimate Silicon Valley cautionary tale. Mr. Balwani and Ms. Holmes, who together pushed Theranos to soaring heights with a…

Read More

SEC Charges Washington, D.C. Investor with Insider Trading

The SEC’s complaint, filed in federal district court in the District of Columbia, alleges that in January 2020, NTRP invited Haywood to participate in a registered direct offering of shares. Before being told about the offering, Haywood expressly agreed not to trade on the material, nonpublic information he was about to receive. Notwithstanding this agreement, after receiving information about the…

Read More

Lawsuit accuses troubled crypto lender Celsius Network of fraud | Reuters

A former investment manager at Celsius Network sued the crypto lender on Thursday, saying it used customer deposits to rig the price of its own crypto token and failed to properly hedge risk, causing it to freeze customer assets. The complaint said Celsius ran a Ponzi scheme to benefit itself through “gross mismanagement of customer deposits,” and defrauded the plaintiff…

Read More

Amazon Hit With Securities Suit Over Pandemic-Related Infrastructure Overcapacity | The D&O Diary

It has been well over two years since the initial coronavirus outbreak in the U.S., but the pandemic continues to affect businesses. Many companies that found themselves making business decisions at when the outset of the pandemic are still dealing with the consequences of those decisions. In at least some cases, the consequences from those business decisions are leading to…

Read More