Court papers show SEC’s Green Mountain probe isn’t over
NEW YORK (Reuters) – The SEC’s 18-month investigation of Green Mountain Coffee Roasters (GMCR.O: Quote, Profile, Research, Stock Buzz) isn’t finished, with revenue recognition among the items under the feds’ microscope, a review of court documents shows.
The transcript from a hearing in January sheds some more light on the nature of the SEC inquiry, which is a hot topic of debate for bulls and bears on the once high-flying stock.
EXCLUSIVE: U.S. lets China bypass Wall St for Treasury orders
NEW YORK (Reuters) – China can now bypass Wall Street when buying U.S. government debt and go straight to the U.S. Treasury, in what is the Treasury’s first-ever direct relationship with a foreign government, according to documents viewed by Reuters.
The relationship means the People’s Bank of China buys U.S. debt using a different method than any other central bank in the world.
Exclusive: U.S. lets China bypass Wall Street for Treasury orders
NEW YORK (Reuters) – China can now bypass Wall Street when buying U.S. government debt and go straight to the U.S. Treasury, in what is the Treasury’s first-ever direct relationship with a foreign government, according to documents viewed by Reuters.
The relationship means the People’s Bank of China buys U.S. debt using a different method than any other central bank in the world.
Galleon prosecutor aims to cement legacy in Gupta trial
NEW YORK (Reuters) – It was during a quiet afternoon in the sixth week of the insider-trading trial of hedge fund billionaire Raj Rajaratnam that prosecutor Reed Brodsky sprang one of those rare surprises usually seen only in the movie version of a courtroom drama.
Brodsky, a federal prosecutor since 2004, seemed to catch defense lawyers and witness Richard Schutte off guard with a blistering cross-examination in the 2011 trial. The former Rajaratnam right-hand man was forced to admit that the biggest investor in a new hedge fund he launched was none other than the Galleon founder.
Corrected: Former SEC head slams Green Mountain directors’ borrowing practice
NEW YORK (Reuters) – A former top U.S. securities regulator said on Wednesday that public companies should bar top executives from borrowing against their equity stakes.
Arthur Levitt, a former chairman of the Securities and Exchange Commission, made his comment a day after Green Mountain Coffee Roasters stripped its chairman and lead director of their board titles for taking out loans against their company stock and also selling shares during a period they should not been doing so.
Judge tells insurer: Pay insider trading legal fees – for now
NEW YORK (Reuters) – A federal judge said during a court hearing in New York on Thursday he is prepared to order an insurance company to keep paying the legal fees of several former hedge fund managers and traders caught up in an insider trading investigation.
District Court Judge Paul Engelmayer said irreparable harm could be done to the employees of Level Global Investors, if XL Speciality Insurance did not keep paying legal fees for their defense.
Former SEC head slams Green Mountain directors’ borrowing practice
NEW YORK, May 9 (Reuters) – A former top U.S. securities
regulator said on Wednesday that public companies should bar top
executives from borrowing against their equity stakes.
Arthur Levitt, a former chairman of the Securities and
Exchange Commission, made his comment a day after Green Mountain
Coffee Roasters stripped its chairman and lead director of their
board titles for taking out loans against their company stock
and also selling shares during a period they should not been
doing so.
Countrywide whistleblower sees no change in financial sector
WASHINGTON, April 26 (Reuters) – Eileen Foster beamed as she
accepted an award at the National Press Club in Washington for
blowing the whistle on mortgage fraud at Countrywide Financial,
but told the crowd she was deeply disappointed.
Foster, who was fired from her position as head of mortgage
fraud investigations for Countrywide after uncovering evidence
of fraud and urging a wider inquiry, said not enough has changed
in the U.S. financial system.
Goldman Sachs facing a new insider trading probe
NEW YORK (Reuters) – Federal prosecutors in California are investigating a Goldman Sachs employee for insider trading, according to prosecutors and defence lawyers who attended a hearing in U.S. federal court in New York on Thursday.
The employee is suspected of giving inside information on two public companies to former Galleon Group co-founder Raj Rajaratnam, who was convicted last year in one of the largest insider trading cases in Wall Street history.
Goldman Sachs employee under investigation
NEW YORK (Reuters) – Federal prosecutors in California are investigating a Goldman Sachs employee for insider trading, according to prosecutors and defense lawyers who attended a hearing in U.S. federal court in New York on Thursday.
The employee is suspected to have given inside information on two public companies to former Galleon Group co-founder Raj Rajaratnam, who was convicted last year in one of the largest insider trading cases in Wall Street history.

