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News & Updates
November 24, 2011 Merck to Plead Guilty, Pay $950M in U.S. Vioxx ProbeSource: Bloomberg
Merck & Co. (MRK), the second-largest U.S. drugmaker, will pay $950 million and a unit of the company will plead guilty to a criminal misdemeanor charge to resolve a U.S. probe of its illegal marketing of the painkiller Vioxx....
November 23, 2011 Madoff trustee settlement to recover $326 million from IRSSource: Reuters
The trustee seeking money for victims of imprisoned swindler Bernard Madoff has reached an agreement with the U.S. Internal Revenue Service (IRS) to recover $326 million that was earlier transferred to the agency by Madoff's firm...
November 22, 2011 SEC Charges Longtime Madoff Employee With Creating Fake TradesSource: SEC
Washington, D.C.– The Securities and Exchange Commission has charged a longtime Bernie Madoff employee with fraud for his role in creating fake trades to facilitate the massive Ponzi scheme.
A Virginia business professor says that the Occupy Wall Street protests are a symbol of a new agenda for an ethics-focused generation. Fernando Pargas, in his new book "Stopping Big Business and Politics from Bleeding America: An...
November 17, 2011 A Fund-Raiser for Liu Is Arrested on Fraud ChargesSource: NY Times
A fund-raiser for the New York City comptroller, John C. Liu, whose campaign finances are under federal investigation, was arrested on Wednesday morning on charges that he helped illegally funnel thousands of dollars into Mr....
November 16, 2011 Olympus May Face Class-Action Lawsuit in U.S. Over Alleged Fraud, LossesSource: Bloomberg
Olympus Corp. (7733), the camera maker being investigated by Japanese, U.S. and U.K. authorities for alleged accounting irregularities, was sued by an investor in its American depositary receipts seeking class-action status....
November 16, 2011 Senators introduce "STOCK Act" to stop "insider trading" in CongressSource: CBS News
A bill to stop "insider trading" in Congress is gaining momentum with two new Senate supporters. Sen. Scott Brown, R-Mass., today introduced the Stop Trading on Congressional Knowledge (STOCK) Act of 2011, which would prohibit...
November 16, 2011 MF Global Trustee Asks Judge to Permit Speedy Claim ProcessSource: BusinessWeek
The liquidator of broker-dealer MF Global Inc. asked a bankruptcy judge to approve a speedy claims process for former customers.Trustee James Giddens is holding back about $1 billion of collateral from the defunct firm’s...
November 15, 2011 Corzine's fortune could invite more lawsuitsSource: AP
WASHINGTON (AP) — The millions that Jon Corzine amassed as head of Goldman Sachs have become an alluring target for investors who were crushed by the collapse of MF Global, the brokerage firm he led until earlier this month. And...
November 14, 2011 Congress: Trading stock on inside information?Source: CBS News - 60 Minutes
Washington, D.C. is a town that runs on inside information - but should our elected officials be able to use that information to pad their own pockets? As Steve Kroft reports, members of Congress and their aides have regular...
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