When seeking to place an attack like the April 15 Boston bombing into context, it is helpful to classify the actors responsible, if possible. Such a classification can help us understand how an attack fits into the analytical narrative of what is happening and what is likely to come. These classifications will consider such factors as ideology, state sponsorship and perhaps most important, the kind of operative involved. In a case where we are dealing with...
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The United States Attorney’s Office had “a major disagreement” with the Federal Bureau of Investigation (FBI) over the pre-dawn raid on SAC Capital portfolio manager Michael Steinberg’s insider trading investigation according to FOX Business Network’s (FBN) Senior Correspondent Charlie Gasparino. Gasparino went on to report that The U.S. Attorney’s Office does not believe in pre-dawn raids for insider trading, but the FBI is for it. On the “major disagreement” between the FBI and the...
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In the 13D filed with SEC on Feb 14, Carl Icahn made a couple of harmless remarks about Herbalife Ltd. (NYSE:HLF) including, The Reporting Persons intend to have discussions with management of the Issuer regarding the business and strategic alternatives to enhance shareholder value, such as a recapitalization or a going-private transaction. New information reported by CNBC’s Jane Well says that KPMG’s partner said in an email to his friend that, ” Herbalife was going private”. ...
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Bingham McCutchen partner Nathan Hochman spoke with FOX Business Network’s (FBN) Liz Claman about the insider trading case involving his client, Bryan Shaw, and former KPMG senior partner Scott London. Hochman discussed whether he believes Mr. Shaw will go to jail for receiving insider trading tips from London, saying, “We hope it will take into account his cooperation, but to date we have no agreements with either the SEC or the Department of...
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KPMG senior partner Scott London gave insider information to his friend, Los Angeles jeweler Bryan Shaw, about shoemaker Deckers Outdoor Corp (NASDAQ:DECK) and that London “apparently tipped Shaw off on at least two mergers and acquisitions, one involving a company called Pacific Capital Bancorp merger in March of last year” reports FOX Business Network’s (FBN) Liz Claman. Claman also reports that, “Shaw has been cooperating with the Feds since January by wearing a wire and...
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The Federal Bureau of Investigation (FBI) and Justice Department are not investigating KPMG, “the entity in and of itself” for insider trading tied to Herbalife Ltd. (NYSE:HLF), but that their efforts are focusing on the firm’s partner Scott London, who “is being investigated” for his activities according to a new report from FOX Business Network’s (FBN) Senior Correspondent Charlie Gasparino reports. Excerpts from the report are below. On whether the FBI and Justice Department...
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SAC Capital Partners’s long-time portfolio manager, Michael Steinberg was arrested on Friday by The Federal Bureau of Investigation (FBI). Federal authorities continue deepen their investigation on the alleged criminal insider trading activities of SAC Capital Partners. The agency charged Michael Steinberg with four counts of securities fraud and conspiracy to commit securities fraud in connection with the allegation that he committed illegal trades in the shares of Dell Inc (NASDAQ:DELL), and Nvidia Corporation (NASDAQ:NVDA) based on...
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In a Transparency Report released by Google Inc (NASDAQ:GOOG), the company revealed that the Federal Bureau of Investigation used the National Security Letters (NSL), a form of surveillance, to extract information on Google users. The privacy experts said that the revelation made by Google is an “an unprecedented win for transparency,” but it is a small step. Dan Auerbach of Electronic Frontier Foundation said that the use of NSL is a serious issue and the way to...
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The Federal Bureau of Investigation (FBI) has joined the Securities and Exchange Commission (SEC) to investigate potential insider trading that took place a day before the official announcement that Warren Buffett-led Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) and private equity firm 3G Capital Management had agreed to purchase H.J. Heinz Company (NYSE:HNZ) for $23 billion. The SEC went on to freeze assets in a bank account linked to the highly suspicious trading. FBI spokesman Martin Feely...
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DOJ and FBI, backed by the Department of Homeland Security, have asked the FCC to not act on the proposed takeover of Sprint (S) by Japan’s SoftBank until the agencies complete their review of related national security, law enforcement, and public safety issues. Analysts at Stifel Nicholas expect the FCC to agree, as it has done in the past when the DOJ and other agencies have made similar requests on proposed foreign purchases of...
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Hewlett-Packard Company (NYSE:HPQ) revealed in its FY2012 10-K filing on Thursday, that the Department of Justice has begun probes over its allegations that the British software firm Autonomy Corp. was involved in accounting malpractices before HP acquired it in October 2011. The takeover created headlines after HP claimed last month that it had been misled about the British firm’s financial performances. Consequently, HP shareholders sued the company and its auditors – KPMG and Deloitte – for...
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