Peter Foley/Bloomberg News
The Jury Takes Its Time in the Galleon Case
The jury in the trial of hedge fund manager Raj Rajaratnam completed its fifth day of deliberations on conspiracy and insider trading charges with no sign of a decision.
Tony Cenicola/The New York Times
The Government’s Power to Oust a C.E.O.
Because of violations of health care laws by his firm, Forest Laboratories, Howard Solomon could be excluded from participation in federal health care programs, which could put him out of a job.
Hazel Thompson for The New York Times
Could it have ended any differently?
The F.D.I.C.’s Lehman Fantasy
The agency contends that new resolution authority under Dodd-Frank would have made all the difference in September 2008. But there are reasons to think otherwise.
Immelt Quits New York Fed Board |
Jeffrey Immelt, the chief executive of General Electric, has resigned as a class B director on the board of the Federal Reserve Bank of New York, citing increased demands on his time. The Fed will start regulating G.E.’s finance arm, GE Capital, in July. Read more »
The Problem With the F.D.I.C.’s Powers |
The Federal Deposit Insurance Corporation’s power to deal with failing major banks is curtailed by its need to have the Treasury Department as a cooperative partner, Simon Johnson writes for Economix. Read More »
Mario Anzuoni/Reuters
David L. Sokol.
Berkshire Gets Tough With Sokol as Meeting Nears
After weeks of being quiet, the board of Warren E. Buffett’s company is aggressively trying to distance itself from David L. Sokol ahead of Saturday’s shareholder meeting.
Simpson Thacher to Add Hong Kong Law Practice |
Simpson Thacher & Bartlett, the American law firm, plans to add a Hong Kong law practice to supplement its existing operations there later this year. The firm has hired Celia Lam from Linklaters and Christopher Wong from Freshfields Bruckhaus Deringer as partners to lead the practice.
Louis Lanzano/Bloomberg News
Donald Longueuil
Former SAC Manager Pleads Guilty to Insider Trading
Donald Longueuil, a former portfolio manager at SAC Capital, pleaded guilty to conspiracy and securities fraud — the latest conviction in the government’s insider trading inquiry.
Jonathan Fickies/Bloomberg News
David L. Sokol.
Advice for David Sokol
DealBook’s law professor columnists sift through the Berkshire Hathaway claims and offer the former star manager some suggestions.
A.I.G. to Sue 2 Firms in Bid to Recover Losses |
The American International Group, the giant insurer rescued by the federal government during the financial crisis, plans on Thursday to file the first of what could be a series of lawsuits against Wall Street firms, contending that it was the victim of fraud, The New York Times reports. Read More »
Louis Lanzano/Associated Press
Raj Rajaratnam and one of his lawyers, John Dowd, leaving court on Wednesday.
Galleon Jurors Review More Taped Phone Calls
As jurors in the insider trading trial of Raj Rajaratnam asked for more recorded conversations, the frayed nerves of the trial lawyers were on full display in the courtroom.
Mario Anzuoni/Reuters
David L. Sokol
Sokol Is Accused of Misleading Buffett on Trades
Berkshire Hathaway directors said David L. Sokol’s “misleadingly incomplete disclosures” about Lubrizol trades “violated the duty of candor he owed the company.”
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