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Outcome installed television screens and tablets in doctors’ offices around the United States and then sold advertising space on those devices to clients, most of whom were pharmaceutical companies. According to evidence presented at trial, Shah, Agarwal, and Purdy sold advertising inventory the company did not have to Outcome’s clients, then under-delivered on its advertising […]
A federal jury on Tuesday convicted a Connecticut cardiologist of insider trading based on confidential information he learned about a clinical drug trial, prosecutors said on Tuesday. Jurors in Hartford, Connecticut, took roughly four hours to find Edward Kosinski, 70, of Weston, guilty on two counts of securities fraud. via Connecticut cardiologist is convicted of […]
The SEC’s action, which remains pending, seeks an injunction against Sean Stewart and Robert Stewart from further violations of the charged provisions of the federal securities laws, disgorgement of ill-gotten gains, civil penalties, and an officer and director bar against Robert Stewart. via Defendant in SEC Insider Trading Action Found Guilty by Federal Jury in […]
David Riley, a former executive at Foundry Networks Inc., a computer equipment company, was found guilty on Thursday in Federal District Court in Manhattan on three of four counts for his involvement in an alleged insider-trading scheme in 2008. via Former Foundry Networks Executive Guilty in Insider-Trading Case – WSJ
After four days of deliberations, the 11-person jury hearing the marathon criminal trial against five former members Bernard Madoff’s staff returned its unanimous verdict, finding all five defendants guilty on all of the 31 combined counts. Here are the key facts you need to know. via Madoff Staff Roundup: Jury Convicts All Five Defendants on […]
Mathew Martoma’s criminal insider-trading conviction means the former SAC Capital Portfolio manager not only faces prison, but could forfeit his family’s luxury Florida home and millions of dollars in bank accounts. via Martoma faces loss of home, millions in forfeiture — USA Today
Yesterday, a federal jury in Manhattan found Matthew Martomo, a former trader at SAC Capital, guilty on two counts of securities fraud and one count of conspiracy related to an insider trading scheme. The scheme allegedly involved Martomo receiving and trading on inside information he obtained from doctors related to a pharmaceutical trial for an Alzheimer’s drug. Here […]
A jury found a senior employee of SAC Capital Advisors LP guilty of insider trading, a verdict that deals another blow to the giant hedge fund and its billionaire founder, Steven A. Cohen. The guilty verdict for Michael Steinberg came after roughly ten hours of deliberation over two days and could send him to prison. […]
A California man’s conviction this week for obstructing an SEC investigation is the latest reminder that although the SEC is a civil agency, it is still possible for someone being investigated to botch things so badly that federal criminal prosecutors also get involved. via Traders, Don’t Turn Your Telephone Interview With the SEC Into a […]
Last two Stanford-related criminal defendants are convicted on 10 felony counts each.