Andrew King News
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Mondi Ltd., the largest maker of office paper and industrial bags in Europe, said third-quarter operating profit decreased after a fall in sales prices.
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The former chief financial officer of NeuTec Pharma Plc , who is on trial for insider trading, said that while he never gave confidential information to unauthorized people, his enthusiasm for the company “rubbed off” on friends.
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Banks agreed to pay about $15.5 billion to settle claims by about 720,000 investors outside the U.S. who lost money in Bernard Madoff’s fraud, said the chairman of a group of law firms representing victims.
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NeuTec Pharma Ltd. ’s former chief financial officer and two lawyers were cleared of insider- trading charges today by a London court, handing the U.K. financial regulator its first defeat in a criminal case.
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Attorney Olivier Metzner says thousands of Societe Generale SA’s own computer records will clear his client, Jerome Kerviel, of responsibility for the bank’s record 4.9 billion-euro ($6 billion) trading loss, Bloomberg News’ Alan Katz and Heather Smith report.
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Nevin Shapiro, chief executive officer of Capitol Investments USA Inc., defrauded investors of at least $80 million to fund his lavish lifestyle after raising $880 million in a Ponzi scheme, U.S. prosecutors charged.
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The former chief financial officer of NeuTec Pharma Plc, who is on trial for insider trading in London, was in line to receive 3 million pounds ($4.6 million) if a 2006 takeover by Novartis AG closed without any problems.
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The ex-wife of a former Microsoft Corp. employee could be eligible for a $1 million bounty for helping U.S. regulators impose one of the largest-ever insider trading fines against Arthur Samberg’s Pequot Capital Management Inc.
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NeuTec Pharma Plc, the biopharmaceutical company whose 2006 takeover by Novartis AG is at the heart of an insider-trading trial, employed the law firm where one of the defendants worked, a witness said.
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A U.K. judge stopped the insider- trading trial of a former partner at law firm Dorsery & Whitney LLP following the death of the defendant’s brother.
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