Another big insider trading trial kicks off, a Morgan Stanley analyst cut Facebook projections ahead of Friday’s IPO and the day’s dose on JPMorgan trading losses. And still more in today’s Wall Street roundup.
What’s Good for the Gupta: The trial of former McKinsey & Co. chief executive Rajat Gupta opened yesterday, and legal Read More
Yesterday, U.S. District Judge Jed Rakoff blocked a settlement between the S.E.C. and Citigroup, criticizing the S.E.C. for settling a case without proving the factual nature of its allegations and allowing the bank to pay a fine and admit no wrongdoing. His published opinion, which might provide some satisfactory morning reading to some of those New Yorkers enjoying “passive recreation” in Zuccotti Park, is scathing.
“Everyone’s favorite judge,” the ballroom-dancing iconoclast Jed Rakoff is a Bank of America buster no more.
This morning, in an opinion quoting the “great American philosopher Yogi Berra,” Mr. Rakoff–who read philosophy at Oxford– finally approved a settlement between the big bank and the S.E.C.
“If the Court were deciding that Read More
Is it good news or bad news for Raj Rajaratnam–the Galleon Group founder arrested Friday on insider trading charges–that Judge Jed Rakoff will preside over his trial?
Business Insider is certainly excited: “Everyone’s favorite judge is back in the spotlight!” they write.
Judge Rakoff, you might recall, recently scuttled a proposed settlement between Read More
In a highly unusual move, a State Supreme Court judge in Manhattan has requested that the New York Law Journal not publish a decision she had already put on the public record.
The Law Journal went ahead and printed Justice Karla Moskowitz’s ruling, anyway. The sober broadsheet further flouted Justice Moskowitz’s wishes by also Read More