NEW YORK, Feb 10- Knoedler& Co, which before closing in 2011 was New York City's oldest art gallery, has agreed to settle a lawsuit over an $8.3 million sale of a fake Rothko painting, just as its ex-president was preparing to testify at trial. The deal, confirmed on Wednesday by lawyers in the case, resolved the remaining claims in a closely watched trial in Manhattan...» Read More
Fund manager Raj Rajaratnam made $1 million in two minutes of frantic calls after receiving an inside tip about a big investment in Goldman Sachs at the height of the financial crisis, prosecutors said this week at the Galleon founder's insider trading trial.
Dozens of foreign companies with London listings may be exempt from new anti-corruption laws, Ken Clarke has confirmed, a disclosure that will anger investors keen to preserve the integrity of London’s markets, the Financial Times reports.
When the Supreme Court considers on Tuesday whether hundreds of thousands of women can band together in an employment discrimination suit against Wal-Mart, the argument may hinge on the validity of the hotly disputed conclusions of a Chicago sociologist, the New York Times reports.
Shares of Eastman Kodak surged 20 percent in late trading on Friday after the International Trade Commission said that it would review the camera maker's loss in a patent battle with Research in Motion and Apple.
Secretly-recorded audio played by prosecutors reveals a phone conversation between hedge fund executive Raj Rajaratnam and his brother Rengan in which Rengan was concerned that the media had picked up on the deal.
A former American Apparel sales associate filed a lawsuit on Wednesday alleging she was sexually harassed by Dov Charney, the company’s unconventional chief executive and founder best known for promoting his American-made T-shirts and leggings in provocative ads that feature young women, the New York Times reports.
Federal prosecutors say they do plan to call Goldman Sachs Chairman Lloyd Blankfein as a witness in the insider trading trial of Raj Rajaratnam, according to a letter sent to the judge in the case.
After one week of testimony in the insider trading trial of Galleon Group co-founder Raj Rajaratnam, one thing is clearer than ever: In the brutally competitive world of hedge funds, information is everything. A jury will ultimately decide whether the information Rajaratnam got—and made millions trading with—was illegal inside information. But there is no disputing that he went to great lengths to get it.
A taped conversation played for jurors in the criminal insider trading trial of hedge fund manager Raj Rajaratnam Tuesday indicated the Goldman Sachs board had a "divided" discussion in the summer of 2008 about trying to buy a commercial bank such as Wachovia.
At least as noteworthy as what attorneys did say in two-and-a-half hours of opening statements in the Raj Rajaratnam insider trading trial is what they did not say.
The inspector general for TARP has 45 investigators across the country empowered to carry guns and badges, and 27 vehicles with sirens and lights. Known as SIGTARP agents, they are empowered to make arrests, and they’ve done just that 23 times, a spokesman said.
Even as state attorneys general and regulators approach the end of their investigation into abuses by mortgage companies, deep disputes are emerging over how much to punish the banks, the New York Times reports.
Rajat Gupta vigorously denies the insider trading charges the SEC lodged against him, calling them “totally baseless.”
The Securities and Exchange Commission's charges against ex-Goldman Sachs board member Rajat Gupta on insider trading is yet another blow to investor confidence, Matthew Halbower, CEO and chief investment officer of hedge fund Pentwater Capital Management, told CNBC Tuesday.
Michael Lewis is being sued over his book The Big Short.
A suit filed against Citigroup by the trustee representing Bernie Madoff's victims would seem to put banks in an impossible position.
Accused Ponzi schemer Allen Stanford has joined convicted Ponzi schemer Bernard Madoff at the federal prison complex in Butner, North Carolina.
The SEC has chosen a former Altria and AOL executive to head its new Whistleblower Office, the commission said Friday. Sean McKessy will wield the new power given to the SEC under the Dodd-Frank law passed last year.
Anyone who cares about deals would do well to read Monday’s opinion from Chancellor Laster in the litigation brought by shareholders against Del Monte Foods.
Whistleblowers who expose fraud, corruption and other kinds of wrongdoing can be deeply religious people, whose faith gives them an identity outside their corporate life.