NEW YORK (Reuters) – Federal criminal prosecutors in New York charged a former Merck & Co Inc employee with conspiracy to commit fraud for tipping a contact about potential mergers, including Merck’s takeover of Idenix Pharmaceuticals ahead of a public announcement in June, according to a court filing on Tuesday.
In charging Zachary Zwerko, the filing referred only to “the pharmaceutical company where he was employed at the time.” But his profile on the business networking site LinkedIn describes him as a former senior analyst for Merck and his lawyer confirmed that Zwerko worked at Merck during the relevant period. The lawyer declined to comment on the case.
NEW YORK, Oct 9 (Reuters) – The U.S. Securities and Exchange
Commission on Thursday asked a judge for more time to decide
whether money from a $602 million settlement with SAC Capital
Advisors should go to investors claiming they are victims of
SAC’s insider trading scheme.
The decision is being closely watched because of the size of
the settlement, as well as the significance of a ruling by the
SEC on whether victims can indeed be identified in insider
NEW YORK, Oct 8 (Reuters) – The U.S. government on Wednesday
asked a federal judge in Manhattan to dismiss a private civil
lawsuit against an Iran sanctions group on national security
grounds without any public explanation for the reason.
If the judge agrees, it would mark the first time the
government had invoked the state secrets privilege without
publicly explaining its motivation for doing so.
NEW YORK, Oct 3 (Reuters) – The U.S. Securities and Exchange
Commission will decide next week whether investors in two drug
stocks at the center of the largest-ever insider trading case
are entitled to compensation.
If the SEC rules in their favor, the investors could seek a
portion of the $602 million the SEC collected in a settlement
from a division of SAC Capital Advisers after former portfolio
manager Mathew Martoma was caught trading on secret tips. It
would be the SEC’s largest payout ever to insider trading
victims. The settlement money would otherwise go to the U.S.
NEW YORK, Sept 29 (Reuters) – The industry group that
regulates securities brokerages has decided it cannot force
firms to carry insurance for payment of awards granted by
arbitration panels or courts to customers who have lost money, a
spokeswoman said on Monday.
After agreeing a year ago to consider an insurance
requirement, officials from the Financial Industry Regulatory
Authority decided they could not impose one.
NEW YORK (Reuters) – The leader of a Manhattan-based non-profit that tries to put pressure on Iran by publicly criticizing people and firms who do business there announced on Monday he is launching a new non-profit devoted to tracking terrorist financing.
The announcement comes less than two weeks after an unusual move by the U.S. government to intervene in a private lawsuit against the group, United Against Nuclear Iran.
NEW YORK, Sept 12 (Reuters) – The U.S. government has moved
to invoke a powerful national security law to dismiss a private
lawsuit against a non-profit group, United Against A Nuclear
Iran, on grounds that the case could reveal state secrets,
according to a court filing on Friday.
Lawyers for the government argued that proceedings in the
private dispute between a Greek businessman and U.S.-based UANI
could “cause harm to national security” if they are allowed to
continue. The document in federal court in New York said the
secrets were “properly classified national security information”
which would be described in another filing that would not be
NEW YORK, Aug 28 (Reuters) – The U.S. government is
considering using a powerful national security law to halt a
private lawsuit against a non-profit group, United Against A
Nuclear Iran, according to a source familiar with the case.
Greek businessman and ship owner Victor Restis last year
sued UANI for defamation after the New York-based group, whose
advisors include former intelligence officials from the United
States, Europe and Israel, accused him of violating sanctions on
Iran by exporting oil from the country.
NEW YORK (Reuters) – The U.S. government is considering using a powerful national security law to halt a private lawsuit against a non-profit group, United Against A Nuclear Iran, according to a source familiar with the case.
Greek businessman and ship owner Victor Restis last year sued UANI for defamation after the New York-based group, whose advisors include former intelligence officials from the United States, Europe and Israel, accused him of violating sanctions on Iran by exporting oil from the country.
(Reuters) – U.S. federal prosecutors have learned that lawyers for General Motors Co were present at key meetings during which information about problems with some of its vehicles were discussed, a source close to the investigation said.
The prosecutors from the U.S. Department of Justice have asked how lawyers attending those meetings participated in them and what they did afterward with the information that was shared during the meetings, the source said.