A former official of BP Plc will pay $224,000 to settle U.S. claims that he traded securities based on inside information about the magnitude of the Deepwater Horizon oil spill, the Securities and Exchange Commission said.
A former Sanofi executive who cooperated with prosecutors got 16 months in prison after a judge called him a leader of an insider-trading ring that made $1.4 million in profit off pharmaceutical and medical-technology company tips.
Columbia University Professor and Nobel laureate Joseph Stiglitz said high-frequency trading gives an unfair advantage to a select group of investors and could be taxed as a way to discourage the practice.
SAC Capital Advisors LP’s landmark $1.8 billion settlement of a U.S. government insider-trading probe stretching back to 2007 was approved by a federal judge, bringing to an end the hedge fund’s role as a money manager and capping a decade of insider-trading cases.
Billionaire Steven A. Cohen’s firm said the U.S. Securities and Exchange Commission’s administrative proceeding against him has been delayed until at least early June, according to a memo sent to employees today.
John DiMatteo, most recently co- chairman of the intellectual property department at Willkie Farr & Gallagher LLP, joined New York litigation boutique Holwell Shuster & Goldberg LLP as a partner, the firm’s first lateral hire since its founding two years ago.