Nate's Feed
Sep 16, 2014

Tech specialist at U.S. law firm charged with insider trading

NEW YORK, Sept 16 (Reuters) – An information technology
employee at a major U.S. law firm was arrested on Tuesday on
charges that he engaged in an insider trading scheme that
enabled him to earn nearly $297,000.

Dmitry Braverman, a former senior information systems
engineer at Wilson Sonsini Goodrich & Rosati, was charged with
one count of securities fraud in a criminal complaint filed in
New York. He was arrested in San Mateo, California, early
Tuesday morning, an FBI spokesman said.

Sep 15, 2014

Fraud trial of NY man who claimed Facebook stake delayed to May

NEW YORK (Reuters) – The trial of an upstate New York man accused of attempting to defraud Facebook Inc and billionaire founder Mark Zuckerberg of half of the company was delayed by six months on Monday after the defendant hired a new lawyer.

Paul Ceglia, 41, had been scheduled to go to trial in Manhattan federal court on Nov. 17 after prosecutors accused him of forging a 2003 contract with Zuckerberg, who is expected to testify as the government’s star witness.

Sep 15, 2014

Ex-Amaranth trader settles U.S. agency’s price manipulation claims

NEW YORK, Sept 15 (Reuters) – A former trader at Amaranth
Advisors who oversaw its energy desk when the hedge fund
collapsed in 2006 has agreed to pay $750,000 to resolve a U.S.
regulator’s lawsuit accusing him of attempting to manipulate
natural gas futures prices.

The settlement between Brian Hunter, Amaranth’s former head
energy trader, and the U.S. Commodity Futures Trading Commission
was disclosed in court papers filed in New York federal court on
Monday.

Sep 15, 2014

Ex-Amaranth trader to pay $750,000 to settle U.S. agency’s manipulation claims

NEW YORK, Sept 15 (Reuters) – A former trader at Amaranth
Advisors who oversaw its energy desk when the hedge fund
collapsed in 2006 has agreed to pay $750,000 to resolve a U.S.
regulator’s lawsuit accusing him of attempting to manipulate
natural gas futures prices.

The settlement between Brian Hunter, Amaranth’s former head
energy trader, and the U.S. Commodity Futures Trading Commission
was disclosed in court papers filed in New York federal court on
Monday.

Sep 12, 2014

HSBC to pay $550 million to settle U.S. mortgage bond claims: source

NEW YORK (Reuters) – HSBC Holdings Plc is expected to pay $550 million to resolve a U.S. regulator’s claims the bank made false representations in selling mortgage bonds to Fannie Mae and Freddie Mac before the financial crisis, a person familiar with the matter said Friday.

A settlement could be announced as soon as later Friday between HSBC and the Federal Housing Finance Agency, the conservator for the two government-controlled mortgage finance companies, the person said.

Sep 9, 2014

Ex-Foundry executive tipped analyst about deal: U.S. prosecutor

NEW YORK (Reuters) – A former executive at Foundry Networks Inc gave an “inside edge” to a hedge fund analyst in 2008 by telling him that the data equipment maker was about to be taken over, a U.S. prosecutor said on Tuesday at the start of an insider trading trial.

David Riley, the executive, told Artis Capital Management analyst Matthew Teeple the “closely guarded secret” that Foundry would be acquired by Brocade Communications Systems Inc, prosecutor Telemachus Kasulis told the jury.

Sep 9, 2014

Morgan Stanley to pay $95 million in U.S. mortgage-debt settlement

NEW YORK, Sept 8 (Reuters) – Morgan Stanley has
agreed to pay $95 million to resolve a lawsuit accusing the Wall
Street bank of misleading investors in mortgage-backed
securities in the run up to the 2008 financial crisis.

The settlement, disclosed in court papers filed Monday in
New York federal court, follows years of litigation by investors
over allegedly false and misleading statements over the soured
securities.

Sep 8, 2014

SAC’s Martoma gets nine years prison for insider trading

NEW YORK (Reuters) – Mathew Martoma, a former portfolio manager at billionaire Steven A. Cohen’s SAC Capital Advisors LP hedge fund, was sentenced on Monday to nine years in prison for engaging in what authorities called the most lucrative insider trading scheme in U.S. history.

U.S. District Judge Paul Gardephe in New York also ordered Martoma, 40, to forfeit $9.3 million.

Sep 8, 2014

U.S. prosecutors try for rebound at insider trading trial

NEW YORK, Sept 8 (Reuters) – U.S. prosecutors in New York
revived their five-year crackdown against insider trading on
Monday, taking a former executive at data equipment maker
Foundry Networks Inc to trial two months after suffering their
first jury defeat in a separate case.

Jury selection began in the case of David Riley, a former
Foundry executive who prosecutors say supplied an unlawful tip
about the company’s 2008 takeover by Brocade Communications
Systems Inc that enabled a San Francisco hedge fund to
make $27 million in profits and avoid losses.

Sep 4, 2014

AriZona iced tea brand co-founders make final pitch in NY trial

By Nate Raymond

MINEOLA N.Y. (Reuters) – The privately held U.S. producer of AriZona iced tea might face insolvency if the judge overseeing a dispute between its founders sets its value at $3 billion or greater, a lawyer for the co-owner running the company said Thursday.

During closing arguments in New York state court, Louis Solomon, an attorney for Beverage Marketing USA Inc co-owner Domenick Vultaggio, said the AriZona beverage maker should not be forced to buy out estranged business partner John Ferolito based on “la la land” numbers.