Daily Archives: January 31, 2024, 8:58 am

German Police Seize $2.1 Billion in Bitcoin From File Sharers – Bloomberg

German prosecutors provisionally seized nearly 50,000 Bitcoin worth about $2.1 billion as part of an investigation into what they see as an illegal file-sharing platform. It’s the largest amount of Bitcoin ever secured by law enforcement in Germany, Saxony prosecutors said Tuesday. Germany’s Federal Criminal Police Office and the US Federal Bureau of Investigation supported the investigation. Source: German Police…

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SEC Rejects Plea to End ‘Gag Rule’ for Settling Defendants

The Securities and Exchange Commission rejected a nonprofit’s request to rescind its policy that bars defendants from denying the agency’s allegations after a settlement, likely prompting legal action. The SEC for decades has allowed parties to settle cases brought by the agency without admitting wrongdoing. But it also requires them to promise not to publicly deny the SEC’s allegations. The…

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UC Berkeley Graduate Students Use AI To Track Insider Trading By Congress – MITechNews

Fifth Year Master of Information and Data Science students Matthew Dodd, Aditya Shah, Jocelyn Thai, and Ethan Yen are the winners of the 5th Year MIDS Capstone Award for their project, PoliWatch. Their project addresses a common issue in Congress: insider trading. Despite a fifth of trades by Congress being reported as problematic, little has been done to hold politicians accountable. To gather information on stock trades,…

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Why People Still Think Bitcoin Will Die

If you’re looking for more proof of the gap of comprehension between “normies” and crypto fanatics, look no further than the results of a Deutsche Bank survey of 2,000 retail clients last week. The most striking result wasn’t even that a third of respondents saw bitcoin below $20,000 by year end. That’s less than half its current price, and well…

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Court Grants Partial Summary Judgment Against CFO and Controller

On January 26, 2024, the U.S. District Court for the Southern District of New York granted the SEC partial summary judgment against former Synchronoss Technologies, Inc. (“Synchronoss”) CFO, Karen Rosenberger, and Synchronoss controller, Joanna Lanni. According to the SEC’s complaint, Rosenberger and Lanni engaged in accounting misconduct which resulted in the overstatement of revenue by Synchronoss. The SEC alleged that…

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Telling Investors that a Lawsuit is “Without Merit” Comes With Risks — Alto Litigation

When faced with a lawsuit, it’s common for a public company to argue in the court of public opinion that the claims asserted against it are “without merit.” However, as a recent U.S. District Court of the District of Massachusetts ruling in the case of City of Fort Lauderdale Police & Firefighters’ Retirement System v. Pegasystems Inc. demonstrates, such an…

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Davis Wright Tremaine Adds Seasoned SEC Litigator and Former Federal Prosecutor Barry O’Connell to Its Financial Services Team in New York | Davis Wright Tremaine

Building on its national reputation for excellence in securities enforcement defense, Davis Wright Tremaine LLP has added Barry O’Connell as a partner in the firm’s New York office. O’Connell brings to the firm more than a decade of experience at the U.S. Securities and Exchange Commission, including as senior enforcement counsel in the Market Abuse Unit. He was most recently a…

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