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Dec 19, 2012

SAC’s top consumer trader draws scrutiny from U.S. authorities

NEW YORK, Dec 19 (Reuters) – U.S. authorities are examining
trading by one of SAC Capital Advisors’ most successful
portfolio managers, Gabriel Plotkin, as part of a probe into the
$14 billion hedge fund firm’s investment in Weight Watchers
International Inc last year, according to a person
familiar with the investigation.

Plotkin, a specialist in consumer and retail stocks who
makes investment decisions for more than $1.2 billion worth of
assets, is among several SAC portfolio managers whose trades are
being investigated, said the source, who did not want to be
identified. The source would not name the other managers.

Dec 17, 2012

Funerals begin for Newtown victims as schools confront tragedy

, Dec 17 (Reuters) – The small Connecticut
town shattered by an act President Barack Obama called
“unconscionable evil,” holds on Monday the first two of 20
funerals for schoolchildren massacred in their classrooms last
week.

Meanwhile, schools across the country will reopen their
doors to confused and scared children full of questions about
why the Newtown, Connecticut, shooting happened – and whether
they are safe from the very same danger.

Dec 17, 2012

Obama consoles Connecticut town, vows effort to tame violence

, Dec 16 (Reuters) – U.S. President Barack
Obama on Sunday consoled the Connecticut town shattered by the
massacre of 20 young schoolchildren and said the United States
was not doing enough to protect its children.

“We bear a responsibility for every child … This is our
first task, caring for our children. It’s our first job. If we
don’t get that right, we don’t get anything right,” Obama told a
packed auditorium at Newtown High School at the end of a somber
multi-faith service.

Dec 17, 2012

Obama consoles Connecticut town hit by school massacre

, 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.

Dec 17, 2012

Connecticut gunman had hundreds of rounds; Obama to console Newtown

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.

Dec 16, 2012

Connecticut town seeks solace in church; Obama due

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.

Dec 12, 2012

‘Tiger Cub’ manager pleads guilty in insider trading case

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.

Dec 8, 2012

Exclusive: U.S. authorities probe SAC for Weight Watchers – sources

By Jennifer Ablan and Matthew Goldstein and Emily Flitter

(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 8, 2012

US authorities probe SAC for Weight Watchers-sources

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.

Dec 6, 2012

Wall St credibility helped FBI agent nab Martoma, others

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
this off?’”

    • About Emily

      "Based in New York covering financial crimes, including insider trading, investment scams, accounting fraud and financial firm misconduct."
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