Thu, Nov 27, 2014
A A A
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. Unlucky Paulson & Co. rebrands $1.6bn Recovery Fund after 13% drop[more]

    From Businessweek.com: A maturing U.S. economic recovery is prompting Paulson & Co. to change course. The $19 billion hedge fund firm, led by billionaire John Paulson, told investors on a conference call this month that the Paulson Recovery Fund will be renamed Paulson Special Situations Fund on Jan

  2. Opalesque Roundtable: Islamic Finance races ahead with Sukuk, the first managed account platform, and foreign demand[more]

    Komfie Manalo, Opalesque Asia: A number of developments took place within Islamic finance in the past years, including the launch of a Islamic managed account platform and the further growth of the sukuk space that saw this instrument evolve from being a type of an ABS security that was rarely

  3. CTAs , event-driven strategies lead hedge funds recovery in mid-November[more]

    Komfie Manalo, Opalesque Asia: November’s performance proves to be in sharp contrast to the previous month, with equities further consolidating their upswing last week, according to the latest Lyxor Asset Management’s Weekly Brief. CTA funds als

  4. Fund Profile - A complex hedge fund strategy works for United Technologies[more]

    From Institutionalinvestor.com: Reports that portable alpha is dead have been greatly exaggerated, as Mark Twain might have phrased it. Another Connecticut Yankee, giant United Technologies Corp., is gearing up to grow its successful, nearly decade-long portable-alpha program. The UTC strategy took

  5. Opalesque Exclusive: The unintended consequences of Basel III[more]

    Benedicte Gravrand, Opalesque Geneva: Bijesh Amin, co-founder and managing director of Indus Valley Partners (IVP), a technology solutions and services firm focused on the alternative asset management industry, has recently observed