Posted by Duff McDonald, Contributing Editor
November 22, 2010 11:49 am
, The latest insider trading investigation is focusing on the new hub of Wall Street information: independent research networks that pay so-called experts for information on public companies.
What is it with Wall Street these days that it won't let a record stand for the usual amount of time?
What is it with Wall Street these days that it won't let a record stand for the usual amount of time?
First, Marc Dreier gets one-upped by Bernie Madoff. Then, Bear Stearns gets bested by Lehman Brothers. And now the Galleon insider trading scandal—only a year old!—looks like it's going to get dusted by the latest insider trading probe on Wall Street.
,
But three years into the program, the man who is at the center of an insider trading case involving FrontPoint Partners and French doctor who allegedly tipped the firm off, packed up and left. In the same year, Chip Skowron joined SAC Capital, and his Wall Street career began.
.U.S. Is Said to Pursue Broad Insider Trading Case
By PETER LATTMAN
Authorities are at an advanced stage of an insider-trading investigation that could result in criminal charges against Wall Street traders, a government official said.
By PETER LATTMAN
Authorities are at an advanced stage of an insider-trading investigation that could result in criminal charges against Wall Street traders, a government official said.
November 20, 2010
While Waksal is famous for his contributions to ImClone; he is infamous for his stint in jail after an insider trading scandal involving homemaking guru Martha Stewart erupted in 2002.--Lisa LaMotta
Former ImClone Systems Chief Executive Sam Waksal’s new biotech Kadmon Pharmaceuticals has officially emerged from stealth mode, purchasing privately-held Three Rivers Pharmaceuticals in a mostly cash deal that is rumored to be worth more than $100 million. Three Rivers will serve as the commercial and operational cornerstone of Kadmon, which is focused on oncology, infectious disease, and immunology. The new biotech has raised over $200 million in debt and equity from investors in Japan and China. Three Rivers will contribute a portfolio of three marketed hepatitis C treatments including Infergen, Ribasphere, and RibaPak, as well as the fungal treatment Amphotec. Kadmon is expected to keep the Three Rivers headquarters in Warrendale, Pa. and its manufacturing plant. Waksal hopes to follow up on the success of ImClone, which was acquired by Eli Lilly in 2008 for $6.5 billion.
.,
In Case You Missed It
It's all legal until a line is crossed where the doctor shares confidential or insider information with the investor. In fact, at just about every medical meeting held around the world, a select group of doctors -- often the thought leaders of their respective fields -- excuse themselves from presenting new clinical data or networking with colleagues and make their way to hotel meeting rooms to consult for Wall Street investors.
Updated Daily On The Blog
No comments:
Post a Comment