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Lawyers for former Goldman Sachs Group Inc board member Rajat Gupta sought to reverse his insider-trading conviction on Tuesday, arguing that wiretap evidence used by the prosecution should not have been introduced at trial.Defense lawyer Seth Waxman told the 2nd U.S. Circuit Court of Appeals in New York that wiretaps played for the jury were inadmissible because they amounted to hearsay evidence.Gupta himself was not heard on the wiretaps, which are instead conversations between convicted Galleon Group manager Raj Rajaratnam and other employees at the hedge fund."Those wiretaps should never have been admitted," Waxman told a three-judge panel of the appeals court.The arguments marked a challenge to one of the highest-profile convictions in the U.S. government's crackdown on insider trading on Wall Street.Gupta, 64, is a former head of the consultancy McKinsey & Co and a one-time board member at Goldman and Procter & Gamble Co . He was sentenced to two years in prison in October for sp...
Steven A. Cohen's hedge fund SAC Capital Advisors told investors on Friday it would no longer cooperate unconditionally with the U.S. government's insider trading in...
SAC Capital Advisors, the $15 billion hedge fund in the spotlight of an insider-trading crackdown by the government, reportedly told investors Friday its cooperatio...
Between hedge fund moguls Steven A. Cohen and Raj Rajaratnam, and banking giants Goldman Sachs (NYSE:GS), Citigroup (NYSE:C) and JPMorgan Chase (NYSE:JPM), the Secur...
Skechers USA Inc. late Wednesday said it swung to a profit of $6.7 million, or 13 cents a share, in the first quarter from a loss of $3.7 million, or 7 cents a share...
Asset manager BlackRock said on Tuesday that one of its former employees was arrested in April by City of London police on suspicion of insider dealing.BlackRock did...
The researcher whose report prompted a spike in health stocks last month appears to have relied on lobbyists rather than U.S. government insiders who had direct know...
A federal judge has sentenced a co-founder of hedge fund Level Global Investors to 6 1/2 years in prison for making improper trades based on corporate secrets about ...
Hedge Fund Level Global Investors LP co-founder Anthony Chiasson was sentenced on Monday to 6-1/2 years in prison for insider trading.At a court hearing in Manhattan...
In Las Vegas this week, hedge fund investors rubbed shoulders with big-name managers, Hollywood heavies and political swells against a Bellagio hotel backdrop of gli...
A pension-fund group once again urged the Securities and Exchange Commission to update rules regarding executive insider trading this week, citing a series of Wall S...
Investors in Steven A. Cohen's SAC Capital Advisors will get a bit more time during the second quarter to decide whether to withdraw money from the $15 billion hedge...
Days after reporting some of the industry's deepest losses, hedge fund billionaire John Paulson said investors should stick with managers for the long term and remin...
Former SAC Capital Advisors portfolio manager Mathew Martoma said the government is impeding his ability to defend against criminal insider trading charges by trying...
Former Goldman Sachs Group Inc. (GS) director Rajat Gupta, in a bid to stay out of prison, is expected to ask a federal appeals court Tuesday to set aside his inside...
The decision by prosecutors to compel Steven A. Cohen to testify before a federal grand jury about allegations of insider trading at his $15 billion hedge fund is le...
The close friend of a former KPMG LLP senior partner accused of insider trading pleaded guilty Monday in a scheme that involved top clients of the Big Four accountin...
The legal battle surrounding SAC Capital Advisors appears to be ramping up as the U.S. is now considering criminal charges against the embattled hedge fund and has s...
Investigators at France's markets regulator have found evidence that luxury-goods maker LVMH Moet Hennesy Louis Vuitton SA had planned for years to take a surprise s...
A former investment-banking analyst at a unit of Bank of Montreal (BMO) agreed to pay a total of 1.2 million Canadian dollars ($1.2 million) among other penalties to...
