Here's a delightful piece of regulatory police work.
Goldman Sachs Group Inc. persuaded a judge to dismiss Overstock.com Inc.’s lawsuit alleging the investment bank manipulated short sales of the online retailer’s stock from 2005 to 2007, causing the shares to fall.
Independent film producer John Bennett pleaded guilty to participating in a $2.6 million insider-trading scheme in which he paid a colleague for secret tips about drug-company takeovers.
UBS AG, Switzerland’s biggest bank, said it may be unprofitable in the third quarter after a $2 billion loss from unauthorized trading at its investment bank.
"I had discussions with a personal friend and shared that information with him and he in turn traded on that information."
- Scott Allen on Mar 19, 2012