Follow-Up: Cisco Systems Says Feds Have Dropped Probe Into Alleged Bribery In Russia
BuzzFeed News previously reported on an alleged kickback scheme in the technology giant’s Russian operations. Federal law enforcement officials had been investigating those allegations for about three years; it is not known why the feds ended their probe.
Martin Shkreli Charged With Running A "Ponzi" Scheme Released On $5 Million Bond
The CEO of Turing Pharmaceuticals, who made headlines for trying to increase the price of a lifesaving drug from $13.50 to $750, was released on bond Thursday over charges that stem from his time as CEO of biotech firm Retrophin Inc.
Trian Partners, Like Other Giant Hedge Funds, Is A Big Fan Of The Mystery Stock
Nelson Peltz's giant hedge fund is currently holding a position that makes up 11% of the entire $5.8 billion fund's portfolio, but has not had to reveal what the name of the stock is, even after the quarter's filing deadline has passed. This isn't the first time the SEC has allowed the fund, as well as other large managers, to withhold a major filing, and some smaller activist hedge funds are questioning the fairness of the practice.
SEC Charges Former Microsoft Employee With Insider Trading
The SEC accused Brian Jorgenson, a former Microsoft employee, and his friend Sean Stokke of trading on advance knowledge of Microsoft's earnings and relationship with Barnes & Noble in order to seed their hedge fund. The SEC says the two made $393,125 over more than a year.
As part of a settlement with the U.S. Securities and Exchange Commission, hedge fund manager Philip Falcone was banned from trading for 5 years and fined $18 million.Most significantly, and unlike in most of these types of cases, the founder of Harbinger Capital Partners was forced to admit to wrongdoing as part of the deal.
Death By A Thousand Cuts: The Law's Pursuit Of Steven Cohen
Federal regulators have been after SAC Capital for the better part of a decade, slowly chipping away at Steven Cohen's empire. But will the most recent charges brought against SAC Capital by a federal grand jury finally drive Cohen out of the business of investing public money?