, Dec 16 (Reuters) – U.S. President Barack
Obama on Sunday consoled the Connecticut town shattered by the
massacre of 20 young schoolchildren, lauding residents’ courage
in the face of tragedy and saying the United States was not
doing enough to protect its children.
“Surely we can do better than this,” Obama told a packed
high school auditorium.
NEWTOWN, Connecticut (Reuters) – The gunman who slaughtered 20 young children in Connecticut stormed Sandy Hook Elementary School armed with hundreds of bullets for a military-style assault rifle and handguns, and shot himself when police closed in, officials said on Sunday.
A more detailed picture of Adam Lanza’s stunning attack on the school in Newtown emerged as worshippers filled Sunday services to mourn the victims and President Barack Obama headed to Connecticut to console the shattered town.
NEWTOWN, Connecticut (Reuters) – Worshippers filled Sunday services to mourn the victims of a gunman’s elementary school rampage that killed 20 children and six adults with President Barack Obama due to appear later at an interfaith vigil to help this shattered Connecticut town recover.
Twenty-year-old gunman Adam Lanza shot his way into the Sandy Hook Elementary School in Newtown on Friday morning, firing away at students and staff with the civilian version of a powerful military rifle and at least two handguns. Victims were hit multiple times and at least one was shot 11 times, authorities said.
NEW YORK, Dec 12 (Reuters) – In the latest chapter of a U.S.
crackdown on insider trading, Tiger Asia Management, an
Asia-focused hedge fund run by Sung Kook “Bill” Hwang, pleaded
guilty on Wednesday to wire fraud in connection with illegal
trading of two Chinese bank stocks, according to federal
prosecutors in New Jersey.
Hwang and the fund were separately charged with insider
trading in a civil suit by the U.S. Securities and Exchange
Commission, according to an SEC press release.
(Reuters) – U.S. authorities are investigating Steven A. Cohen’s SAC Capital Advisors hedge fund for possible insider trading in the shares of the popular diet company Weight Watchers International Inc, according to people familiar with the matter.
The investigation focuses on trading in Weight Watchers shares in the first half of 2011, when SAC Capital had taken a sizeable position in the stock, and potentially could implicate the billionaire hedge fund manager, the sources said on Friday.
Dec 7 (Reuters) – U.S. authorities are investigating Steven
A. Cohen’s SAC Capital Advisors hedge fund for possible insider
trading in the shares of the popular diet company Weight
Watchers International Inc, according to people familiar
with the matter.
The investigation focuses on trading in Weight Watchers
shares in the first half of 2011, when SAC Capital had taken a
sizeable position in the stock, and potentially could implicate
the billionaire hedge fund manager, the sources said on Friday.
NEW YORK, Dec 6 (Reuters) – FBI Supervisory Special Agent
Richard Jacobs once had to go undercover as a “corrupt” stock
broker to help catch scammers on Wall Street making illegal
profits by manipulating penny stocks.
Jacobs had to live and breathe his new role.
“When you’re talking to traders, there’s a lot of slang,” he
said in a recent interview with Reuters. “I thought, ‘Can I pull
NEW YORK (Reuters) – The FBI on Tuesday arrested David Miller, a former Rochdale Securities trader whose outsized, unauthorized purchases of Apple stock in October nearly sank his firm.
U.S. prosecutors in Connecticut charged Miller with wire fraud, alleging he lied about his trading of Apple (AAPL.O: Quote, Profile, Research, Stock Buzz) shares ahead of the tech giant’s October 25 earnings announcement.
(Reuters) – Morgan Stanley hired former Goldman Sachs trader Edward Glenn Hadden to run its Treasury bond desk last year, even though his former employer had placed the trader on paid leave for about a year following an internal inquiry, said three people familiar with the situation.
The inquiry by Goldman involved a matter separate from an ongoing investigation by exchange operator CME Group into a December 2008 trade that involved U.S. Treasury futures.
NEW YORK (Reuters) – It could be weeks, maybe months, before U.S. securities regulators move on their threat of filing civil fraud charges against Steven A. Cohen’s SAC Capital Advisors.
The $14 billion hedge fund now faces a period of meetings with SEC lawyers that could stretch on for some time, said lawyers familiar with the process.