Posts tagged ‘insider trading’

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Ray Dirks, Whistleblower

Back in the news after 42 years

On March 6, 1973, Ray Dirks got an unexpected phone call in the morning from an ex-employee of a West Coast life insurance company he was following called Equity Funding Corporation of America. 

Fork in the road

Whither Insider Trading?

A precise definition, an absolute prohibition or something in between?

Two senior hedge fund managers slip out of their insider trading convictions because the government couldn’t prove they knew whether the corporate insiders who initially divulged the tips they ultimately traded on were paid off for doing so.

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Back to Basics for Insider Trading

Who cares whether the original tipper got a quid pro quo?

Todd Newman and Anthony Chiasson –hedge fund portfolio managers whose 2008 convictions and prison sentences1 for insider trading were just vacated by the Second Circuit Court in New York — can thank a Wall Street insurance analyst by the name of Raymond Dirks for their new-found innocence and freedom.

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Did Bill Ackman Trip over Allergan?

In amassing his huge stake, he may have stepped into insider trading territory  

If his death threat against Herbalife wasn’t risky enough, Bill Ackman’s recent hook-up with Michael Pearson of Valeant Pharmaceuticals has turned into an even more precarious campaign. 

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Targeting Private Equity

Are 2 & 20 just not enough?

Are private equity types any different from hedge funders?

The SEC apparently doesn’t think so and, after excoriating the latter for flagrant securities law violations, the regulators are now training their sights on the former.

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Struggle for the Soul of Wall Street

Not just “can we do this”, but “should we?”

Sir Hector Sants’ sudden leave of absence from Barclays Bank last month epitomizes the intense ethical struggle now engulfing the financial industry.

Sants, 57, was brought in earlier this year by CEO Antony Jenkins to help reform a bank that has featured in virtually every financial scandal of the past several years. 

Businessman at Card Table

Stevie Cohen’s Big Bad Bet

Risks his $15 billion hedge fund to avoid a huge loss

They were SAC Capital’s largest equity positions when Stevie Cohen sold $700 million and shorted $260 million of Elan and Wyeth stock in July 2008, just before the two pharmaceutical companies announced disappointing results in the Phase II clinical trial of bapineuzumab, their jointly-developed Alzheimer’s drug.