A federal appeals court ruling that makes it harder to obtain insider-trading convictions was called 'dramatically' wrong in the U.S. government’s first formal response to the sweeping decision.
The U.S. government wants an extra month to decide whether to appeal a landmark ruling making it harder to bring insider trading charges, a decision that also threw out key convictions in Manhattan U.S. Attorney Preet Bharara’s seven-year probe of market manipulation.
Bill Ackman’s Pershing Square Capital Management LP has sued the U.S. government, claiming revised terms of the 2008 bailout of Fannie Mae and Freddie Mac cheat investors of the profit from the mortgage-financing entities.
The U.S. government has failed to produce any evidence to show that Bank of America Countrywide unit committed mortgage fraud in the run-up to the financial crisis, a lawyer for the bank said on Tuesday.
The US government has given Steven Cohen a price tag for putting the criminal case against SAC Capital Advisors behind him, and it’s $1.8bn, according to people familiar with the matter.
A civil forfeiture lawsuit against SAC Capital Advisors should be put on hold while prosecutors continue their criminal case against the hedge fund over alleged insider trading, the U.S. told a federal judge in Manhattan.
US Government authorities are planning to arrest two former JPMorgan Chase employees suspected of masking the size of a multibillion-dollar trading loss.