Law Lawsuits

  • Raj Rajaratnam co-founder of the Galleon Group hedge fund.

    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.

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    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.

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    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

    Rajat Gupta vigorously denies the insider trading charges the SEC lodged against him, calling them “totally baseless.”

  • Rajat Gupta

    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.

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    Michael Lewis is being sued over his book The Big Short.

  • Gavel

    A suit filed against Citigroup by the trustee representing Bernie Madoff's victims would seem to put banks in an impossible position.

  • Allen Stanford

    Accused Ponzi schemer Allen Stanford has joined convicted Ponzi schemer Bernard Madoff at the federal prison complex in Butner, North Carolina.

  • The U.S. Securities and Exchange Commission seal hangs on the facade of its building in Washington, DC.

    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.

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    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.

  • August Busch IV

    The death of August Busch IV's companion has provided fodder for those who see him as someone whose money and influence have protected him, the New York Times reports.

  • Bernie Madoff

    “Let the buyer beware” as a concept is staging a comeback as the trustee in the Madoff case argues that some investors were sophisticated enough to know it was a Ponzi scheme, the New York Times reports.

  • Wall Street

    With new whistleblower rules coming to Wall Street, the industry's lobbyists have mounted a furious behind-the-scenes effort to constrain the reach of the new protections.

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    Two men, including a Wall Street veteran and a Minnesota trader who went undercover, explain how they worked with the IRS and FBI to expose tax fraud.

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    This is the story of the most successful—and least known—whistleblower operation of all time.  Four men who have made a vast fortune blowing the whistle on the drug industry, forcing Big Pharma to pay the federal government over a billion dollars in settlements.

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    Bradley Birkenfeld once lived the high life as secret Swiss banker at UBS in Geneva. Then he delivered some of the world’s best-kept secrets to the US government, expecting a great reward. And now he sits in federal prison in Pennsylvania.

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    Cheryl Eckard became the largest individual whistleblower award recipient ever, hauling in a $96 million bounty as her reward for providing information to the government about manufacturing problems at GlaxoSmithKline.

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    Have you ever been tempted to blow the whistle on something suspicious you've witnesses in the workplace? Take our poll and share your opinion.