Today’s Wall Street Journal reveals a new figure in the Great Hedge Fund Reckoning. His name is Michael Steinberg, and he’s the first current employee of Steve Cohen’s SAC Capital to be named in connection with the FBI’s far-reaching insider trading probe.
According to The Wall Street Journal, the FBI approached expert-networker John “Nuke” Read More
These days, with all the talk of slippery New England hedge funds, grey area-dwelling expert networks and mosaic-style data-aggregation tactics, it can be tough to remember a time when insider trading was simpler. More pure. More family-focused.
That’s why it’s so reassuring to read in today’s New York Times that the latest Read More
“They better be fucking confident that they’re right before they destroy reputations,” a major New York hedge fund manager was saying just before midnight on Monday. Attorney General Eric Holder had confirmed an investigation of Wall Street that afternoon, 10 days after The Journal had broken news of a three-year insider-trading probe that “could eclipse Read More
The FBI is now questioning Menucher Menucherhry, a consultant for dominant expert-network firm Gerson Lehrman, as part of its industry-upending insider trading investigation, The Wall Street Journal reports.
According to people familiar with the matter, “The consultant, an employee of Marvell Technology Group Ltd., provided information about the technology industry to Read More
“Fabulous” Fabrice Tourre, the Goldman Sachs trader at the center of a fraud case involving Goldman’s Abacus collateralized debt obligation, faces an additional complaint from the Securities and Exchange Commission.
Bloomberg reports that the SEC is now accusing Tourre of providing Goldman with the more serious charge of “substantial assistance” in snookering investors Read More
General Motors’ gargantuan initial public offering should have made this a good day for Steven Rattner, the troubled former car czar and private equity kingpin.
It has not been.
In one of his final acts as Attorney General, Governor-Elect Andrew Cuomo filed two lawsuits against Mr. Rattner, who co-founded the multibillion-dollar firm Read More
In last night’s DealBook (or rather “Dealb%k“) column, The New York Times‘ Andrew Ross Sorkin wonders whether the Securities and Exchange Commission is undermining corporate transparency by allowing companies to post market-moving information (quarterly earnings, for example) on their websites instead of distribute it through more traditional means like press releases. Says Sorkin:
If Read More