Sat, Nov 28, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

This week in insider trading - case nears judges ruling

Tuesday, July 30, 2013

Bailey McCann, Opalesque New York:

The insider trading docket is pretty full this week. Cases against Fabrice Tourre, the former Goldman Sachs trader accused of defrauding investors in a mortgage deal six years ago and Steven Cohen, the head of SAC Capital both moved forward today. The SEC also announced insider trading charges against Stephen B. Gray, the CEO of a Houston-based investor relations firm, which stands accused of trading on inside information from a number of clients of the firm.

In a surprise move late yesterday, the defense in Fabrice Tourre's case rested without calling any witnesses. The case will now move into closing arguments today, in New York City. The SEC called 11 witnesses and had in all, two weeks of testimony leading up to this moment and will now be decided by a jury. Tourre himself testified on Friday, and his defense seemed relatively upbeat at that time according to a Wall Street Journal report.

The crux of the case centers on whether a mortgage trade involving Mr. Tourre, Paulson & Company and ACA Financial contained inaccurate information that Mr. Tourre knew about and failed to correct. The burden of proof falls with the SEC to show that Mr. Tourre willfully gave fraudulent information to investors. The DealBook ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Other Voices: Hedge fund marketing and the selling cycle[more]

    By Bruce Frumerman. How long is the selling cycle now? That’s a question my financial communications and sales marketing consulting firm has been asked on a regular basis by hedge fund firm owners and sales people, ever since we opened the doors to our firm in 1987 pre-crash. Wa

  2. People - Solus Alternative Asset Management adds chief strategist from BTIG[more]

    From Daniel Greenhaus joined hedge fund manager Solus Alternative Asset Management as managing director and chief strategist. He will work closely with Chris Bondy, Solus’ chief economist, managing director and executive vice president, said Chris Pucillo, CEO and chief investmen

  3. Opalesque Roundtable: Seeding deal terms can be onerous for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Executives from fund of funds firms, family offices, a placement agent, a private equity firm, and an accounting firm gathered in Connecticut last month for the

  4. Opalesque Roundtable: Family offices flock to co-investment[more]

    Bailey McCann, Opalesque New York: Co-investments have been a hot topic for pension funds in recent years, as they try to move away from high fees and improve transparency. But now, family offices are more readily getting into the mix and establishing in-house deal teams, according to the delega

  5. More institutional investors invest in CTAs compared to last year despite dissatisfaction with performance[more]

    Benedicte Gravrand, Opalesque Geneva: "Despite a strong start to 2015 for CTAs in Q1, commodity market conditions have made return generation difficult for fund managers over much of the rest of the year to date," says Preqin’s November