Box Inc., the cloud-storage provider that filed for an initial public offering earlier this year, is in talks to raise about $100 million at a valuation of at least $2 billion, according to people familiar with the matter.
The U.S. Securities and Exchange Commission, in a third insider-trading trial defeat in the past year, lost its lawsuit claiming STEC Inc.’s former chief executive officer made $134 million by selling stock before divulging a sales setback to investors.
Alibaba Group Holding Ltd. agreed to pay 1.2 billion yuan ($192 million) for a stake in China’s most popular soccer team in a deal struck over drinks between founder Jack Ma and fellow billionaire Hui Ka Yan.
Mark Cuban, the billionaire owner of a professional basketball team, TV network and art-house movie theater chain, said he doesn’t recall details of a conversation in which the U.S. claims he was warned that information he received about a company was confidential.
Wynnefield Capital Inc.’s Nelson Obus traded on confidential information to make $1.3 million for his hedge fund and confessed to it twice, a lawyer for the U.S. Securities and Exchange Commission said in a civil trial of Obus and two others.