Daily Archives: January 10, 2023, 1:09 pm

Everything is securities fraud – Bloomberg

When I write about this, sometimes I get complaints from securities lawyers who say “no, securities fraud doesn’t work that way: You are not required to disclose everything immediately, and it is only securities fraud if the company puts out some misleading disclosure. Just not mentioning a bad thing is not fraud.” 6  And so in fact the technical game of…

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Tom Brady, Gisele, Patriots’ Robert Kraft Among Celebrities Losing FTX Shares – Bloomberg

Billionaire New England Patriots owner Robert Kraft and star NFL quarterback Tom Brady are among those sharing in the pain of FTX Group’s sudden implosion. Brady, formerly a prominent FTX booster, owns more than 1.1 million common shares of FTX Trading, bankruptcy court documents show. His ex-wife, supermodel Gisele Bündchen, has more than 680,000 shares in the same entity. Source:…

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Goldman Sachs bankers have nickname for looming mass layoffs

Goldman Sachs is expected to fire about 3,200 workers starting on Wednesday — a massive bloodbath that bankers at the firm are calling “David’s Demolition Day,” The Post has learned. Word of the layoffs by hard-charging chief executive David Solomon spread at the Wall Street giant’s headquarters in downtown Manhattan on Friday after a partner in the wealth management division…

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Third Bankman-Fried Associate Nishad Singh Met With Prosecutors – BNN Bloomberg

Former FTX engineering chief Nishad Singh met with federal prosecutors in a bid to become the third member of Sam Bankman-Fried’s inner circle to seek a cooperation deal in the fraud case over the cryptocurrency exchange’s collapse. Singh, who has not been accused of wrongdoing, attended a so-called proffer session last week at the Southern District of New York US…

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