NY appeals court gives SEC-Citigroup deal new life
NEW YORK -- A federal appeals court says a judge may have overstepped his authority when he blocked a $285 million settlement over toxic mortgage securities....
Judge conditions $602 million SAC settlement on appeals court
NEW YORK - A judge on Tuesday signed off on a $602 million insider-trading settlement between a unit of SAC Capital Advisors and U.S. securities regulators, but he said final approval rests on the outcome of another high-profile case now on appeal.
Found 1 month ago on channel Reuters
United States: Unauthorized UCC Filings: A Cautionary Tale In The Absence Of Requisite Authority To File, A UCC Termination Statement Is Ineffective To Bring A Perfected Security Interest To An End - Milbank, Tweed, Hadley & McCloy LLP
A recent decision by the United States Bankruptcy Court for the Southern District of New York found that a UCC-3 termination statement filed on behalf of a secured creditor was not effective because it lacked the proper authorization.
Found 1 month ago on channel Mondaq
SAC Capital Portfolio Manager Arrested in NYC?
NEW YORK — A portfolio manager for the hedge fund operator SAC Capital Advisors has been arrested in New York City as part of a federal insider trading investigation. The FBI says Michael Steinberg was arrested at 6 a.m. Friday at his home. It declined to specify the charges. His attorney says in a statement that Steinberg “did absolutely nothing wrong.” Attorney Barry H. Berke says Steinberg was “caught in the crossfire of aggressive investigations” into other people’s activities. At least four other people associated with the Stamford, Conn.-based firm have been arrested over a period of about four years. On March 15, the Securities and Exchange Commission said that two affiliates of SAC Capital Advisors would pay more than $614 million in what federal regulators called the largest insider trading settlement ever. The settlement is subject to court approval.
Appeals court hears arguments in SEC's case against Citigroup
NEW YORK - A federal appeals court signaled that a U.S. securities regulator's proposed $285 million civil fraud settlement with Citigroup Inc might end up back in the hands of the same judge who rejected it more than a year ago.
Found more than 1 month ago on channel Reuters
Hay — the Stuff Horses Eat — Is the Latest Weird Item Targeted by Thieves
Never mind hunting for a needle in a haystack — what if you’re hunting for the actual haystack? Last summer’s drought across the nation’s agricultural belt has led to a spate of hay thefts as farmers face record prices for this crucial livestock feed. Industry publication Farm Progress reports that hay that should have been worth around $200 sold for record highs of around $320 a ton at auction. It’s just supply and demand, auction manager Dale Leslein told the magazine. Oklahoma is screaming for hay… Missouri is running short; Nebraska is very tight as is Iowa, Wisconsin, Illinois, Indiana, Tennessee and Kentucky. They’re all running out of hay. Some thieves will just sneak away with a couple of bales and hope the owner doesn’t notice them missing, authorities in Missouri say. Others are more brazen: The Denver Post says one group of criminals made off with $5,000 worth of hay in a front-end loader back in September. The biggest problem for farmers is that it’s virtually ...