‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInWarren urges SEC to open insider trading probe into Fed Vice Chair Clarida, others
Sen. Elizabeth Warren on Monday urged the Securities and Exchange Commission to investigate whether three Federal Reserve leaders violated insider trading rules in 2020, when they bought and sold assets as the central bank ramped up efforts to save the U.S. economy from economic turmoil. Warren, who sits on the congressional committee that oversees the […]
Is Stock Market Rigged? Insider Trading by Executives Is Pervasive, Critics Say – Bloomberg
No one is claiming to know if Filler or any of the other TipRanks stars are taking advantage of nonpublic information. Poker legend Doyle “Texas Dolly” Brunson made five final tables in his career, after all, and it’s possible to get lucky enough to flip a coin and hit heads a bunch of times in […]
An Unusual Insider Trading Case
In short: Company insider (Panuwat) obtains confidential information from his employer that the firm is to be acquired. He immediately trades in the stock of a similar but unrelated company – recognizing, correctly, that news of the acquisition will lift the stocks of comparable firms. Has he violated Section 10(b) and Rule 10b-5 by misappropriating confidential […]
SEC Charges Netflix Insider Trading Ring
According to the SEC’s complaint, Sung Mo “Jay” Jun was at the center of a long-running scheme to illegally trade on non-public information concerning the growth in Netflix’s subscriber base, a key metric Netflix reported in its quarterly earnings announcements. The complaint alleges that Sung Mo Jun, while employed at Netflix in 2016 and 2017, […]
SEC Charges Biopharmaceutical Company Employee with Insider Trading
According to the SEC’s complaint, filed in the U.S. District Court for the Northern District of California, Matthew Panuwat, the then-head of business development at Medivation, a mid-sized, oncology-focused biopharmaceutical company, purchased short-term, out-of-the-money stock options in Incyte Corporation, another mid-cap oncology-focused biopharmaceutical company, just days before the Aug. 22, 2016, announcement that Pfizer would […]
SEC Charges Former Domino’s Pizza Accountant with Insider Trading
The Securities and Exchange Commission today announced the filing of settled insider trading charges against Leonard R. Barr, a Michigan resident and former accountant at Domino’s Pizza, Inc. According to the SEC’s complaint, filed in the U.S. District Court for the Eastern District of Michigan, Barr used confidential financial data he obtained through his role […]
Six Charged in Silicon Valley Insider Trading Ring
According to the SEC’s complaint, Nathaniel Brown, who served as the revenue recognition manager for Infinera Corporation, repeatedly tipped Infinera’s unannounced quarterly earnings and financial performance to his best friend, Benjamin Wylam, from April 2016 until Brown left the company in November 2017. The SEC’s complaint alleges that Wylam, a high school teacher and bookmaker, […]
Brooklyn Man Charged in Long-Running International Insider Trading Scheme | USAO-EDNY | Department of Justice
According to the indictment, between November 2015 and October 2020, Peltz and his co-conspirators engaged in a fraudulent scheme by which they obtained MNPI about publicly traded companies from a variety of sources, including a corporate insider and a reporter at a financial news organization (the “Reporter”). Peltz and his co-conspirators allegedly used the MNPI […]
The Sure Thing podcast: ‘It was just chaos’: The day police cracked an $8 million scam
One of the men behind Australia’s biggest insider trading case has broken his silence, detailing his role in a heist of almost $8 million involving secret accounts, betrayal and a police chase resembling a mafia sting. Christopher Hill, who worked at the Australian Bureau of Statistics at the time, and passed confidential information to NAB […]
Former Goldman Sachs analyst and brother charged with insider dealing | Financial Conduct Authority | The Guardian
Two brothers who worked at Goldman Sachs and leading City law firm Clifford Chance have appeared in court charged with insider dealing and fraud. Mohammed Zina, 32, who worked as an analyst at Goldman Sachs, and his brother Suhail Zina, 33, who worked as a solicitor at Clifford Chance, appeared at Westminster magistrates court on […]