A jury in one of New York’s most conservative counties recently returned a $130 million verdict in a medical-malpractice case, the second-largest in the state’s history. Lawyers for the losing hospital decried a “jury out of control” and called for more tort reform. Before the case went to trial, their offer of an $8 million settlement was turned down.
Disclosure that the U.S. National Security Agency broke privacy rules thousands of times in a year is adding momentum to efforts in Congress to curb the top-secret surveillance programs made public by Edward Snowden.
Steve Cohen doesn’t recall reading an e-mail on Dell Inc. that was cited by the Securities and Exchange Commission as evidence that that the founder of SAC Capital Advisors LP failed to supervise his employees, according to a report given to the firm’s employees yesterday.
“People are really partying again, they’re eating like savages,” said Janet O’Brien, who owns a namesake catering and event company that serves the East End. “It’s something that happens after a recession.”
SAC Capital Advisors LP may be charged by the U.S. as soon as this week in a criminal insider trading investigation, while no charges are planned against founder Steve Cohen, the Wall Street Journal reported, citing unidentified people familiar with the matter.
Steven A. Cohen’s SAC Capital Advisors LP told investors, employees and counterparties that it will stay open for business as the U.S. accused the $14 billion hedge-fund firm of engaging in an unprecedented insider-trading scheme over more than a decade.
Enforcement lawyers at the U.S. Commodity Futures Trading Commission have circumvented formal agency votes to begin investigations unilaterally, according to Scott O’Malia, a Republican member of the commission.