One late afternoon in March 2007, Sanjay Wadhwa sat at his desk transfixed by the data on his computer screen. Wadhwa was then a low-level supervisor in the Wall Street office of the U.S. Securities and Exchange Commission investigating a supposedly routine case of “cherry- picking.” The SEC had gotten a complaint that Rengan Rajaratnam, the founder of Sedna Capital Management LLC, a small hedge fund, was doling out a disproportionate share of his best trades to the beneficiaries of a “friends and family” account. It was Wadhwa’s job to figure out what was going on, Bloomberg Businessweek reports in its April 23 issue.
Anadarko Petroleum Corp. may address its dispute with BP Plc over who should pay for the biggest oil spill in U.S. history through a private proceeding intended to resolve the issue faster and more cheaply than litigation.
For Americans, the foreclosure crisis has wiped out fortunes, bringing destitution and homelessness. For Florida attorney David J. Stern , it has brought mansions, a Bugatti sports car and a luxury yacht.
A Texas state judge is promoting his recent decisions favoring a gas driller in its dispute with a local landowner as part of his election campaign, a move some legal scholars say may violate state judicial ethics rules.
Fliers distributed at the Texas Republican convention last month depict Democrat Steve Mostyn in a menacing sketch, asking why he’s trying to “infiltrate” their party. A companion website, largely financed by rival Bob Perry, warns of Mostyn’s “invisible hand” in state politics.