Daily Archives: April 1, 2024, 7:51 am

Goldman, Morgan Stanley win dismissal of lawsuits over Archegos collapse | Reuters

A U.S. judge on Thursday dismissed seven lawsuits by investors who accused Goldman Sachs Group Inc and Morgan Stanley of misconduct that fueled the rapid March 2021 collapse of Bill Hwang’s $36 billion firm Archegos Capital Management. U.S. District Judge Jed Rakoff in Manhattan dismissed the investors’ market manipulation and insider trading claims with prejudice, meaning they cannot be brought…

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Ericsson Says U.S.-Imposed Monitor Has OK’d Its Anticorruption Program – WSJ

Ericsson said a U.S.-imposed compliance monitor has certified that its anticorruption program is working, a crucial step for the telecommunications company to emerge from the close Justice Department scrutiny it has been under since it admitted to bribery in 2019. On Thursday, Ericsson said it expects to emerge from its independent monitorship no later than June 2. The monitor said…

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Legal Risk and Insider Trading

… Specifically, do illegally informed traders rationally internalize legal risks? If so, is this process reflected in their trades and prices? While addressing these issues is vital to assess insider trading regulations’ effectiveness, one faces a formidable empirical challenge: neither private information nor legal risks are readily observable. To enhance our understanding, we contribute in three ways: We manually collect…

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Binance Executives File Suit Against Nigeria: Local Media

The two Binance executives who have been held as guests of the Nigerian government since arriving in the country in February, have sued the National Security Adviser, Nuhu Ribadu, and the Economic Financial Crimes Commission for violating their fundamental human rights, local media reported Friday. In separate filings, Tigran Gambaryan, head of financial crime compliance at the world’s largest crypto…

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