Challengers to Detroit’s bankruptcy suffered a setback when a federal judge rejected an argument by public pension-fund officials that a state court must rule on the validity of the case before hearings can begin.
Noah Freeman and Donald Longueuil, former junior portfolio managers at SAC Capital Advisors LP, were accused of insider trading while working at the $12 billion hedge fund in the latest round of charges stemming from a nationwide crackdown by federal prosecutors.
Charles O. “Chuck” Prince and Robert Rubin were among Citigroup Inc. officials who knew 2007 losses were mounting on mortgage assets that U.S. regulators have faulted the bank for not disclosing, a court filing shows.
Wells Fargo & Co. is standing by the accuracy of its foreclosure filings and won’t follow competitors in delaying seizures, after an employee testified he signed documents for proceedings without personally reviewing records.
Neither a convicted con artist like Bernard Madoff nor a jailed chief executive like WorldCom Inc.‘s Bernard Ebbers will benefit from today’s U.S. Supreme Court ruling that narrowed the federal “honest services” law used by prosecutors to target corporate wrongdoing, lawyers said.