Reported by Dave Michaels Biotech executive Matthew Panuwat bought options on another drug company’s stock—and earned a windfall of $120,000. The Securities and Exchange Commission now says he committed insider trading, even though he didn’t buy his employer’s stock and didn’t have inside information about the company he bet on. The case, which goes to […]
Reported by Sabrina Willmer Brandon Charnas, already famous for being married to a social media icon, and infamous for refusing to cooperate with an insider-trading probe, is advancing into notoriety. Not only is the US Securities and Exchange Commission looking at the $385,000 the regulator says he made using potentially non-public information about a bid […]
Reported by Drew Harwell In October 2021, former president Donald Trump announced that his media company, the owner of the platform Truth Social, had sealed an incredible deal: a merger with a “special purpose acquisition company” that would deliver to his firm $300 million toward his promise of giving “a voice to all.” By then, […]
Reported by Corinne Ramey and James Fanelli British billionaire Joe Lewis pleaded guilty Wednesday to securities-fraud charges, resolving an insider-trading case in which prosecutors accused him of tipping off pilots, personal assistants and romantic partners about companies in which he invested. The 86-year-old Lewis, whose family owns the English Premier League soccer club Tottenham Hotspur, pleaded guilty to […]
Reported by Craig Coben On Friday the US Securities and Exchange Commission charged Morgan Stanley and its former equity syndicate desk head Pawan Passi with fraud in the conduct of block trading business. The SEC’s report describes several damningly flagrant breaches of confidentiality, but one example stands out as the epitome of chutzpah. According to the SEC, […]
Reported by Dave Michaels, AnnaMaria Andriotis, and Corrie Driebusch Morgan Stanley agreed Friday to pay $249 million to settle criminal and regulatory investigations into allegations that some employees improperly shared information about clients’ stock sales, the Manhattan U.S. attorney’s office said. The resolution ends a long-running probe into how the bank sold large blocks of stock for […]
Reported by Corinne Ramey Steven Teixeira’s use of his girlfriend’s laptop began innocently enough when she asked him to keep an eye on her work email while she went to fitness classes and ran errands. As they weathered the pandemic from their apartment in Queens, N.Y., he gave in to temptation. His sweetheart worked as […]
Reported by Unusual Whales Unusual Whales recently reported that Democrats from the U.S. Congress engaged in insider trading beat the S&P 500 in 2023. Watch Video and see charts from below. Follow Unusual Whales via X located at: https://x.com/unusual_whales?s=21
Reported by Patricia A. Pileggi , Brittany H. Sokoloff , William P. Ziegelmueller Of ArentFox Schiff LLP On November 20, 2023, the Northern District of California denied summary judgment for the defendant in SEC v. Panuwat, an enforcement action being brought under a novel theory of insider trading law that is being referred to as […]
Reported by Peter I. Altman, Michael A. Asaro, James Joseph Benjamin Jr., Brian T. Daly, Anne M. Evans, Katherine R. Goldstein, Claudius B. Modesti, Parvin Daphne Moyne, Douglas A. Rappaport, and Lillian Jordan Rand While it took a few decades to surface, the fact pattern set forth in the movie “Trading Places” has finally come […]
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