The U.S. Securities and Exchange Commission has charged 32 defendants with fraud in an international scheme that used stolen, yet-to-be-published press releases from hacked websites to conduct stock trades.
This may finally be the year that the U.S. Congress gives email and other documents stored in the cloud for several months the same privacy protections from police searches as newer files or paper records stored in a file cabinet, say backers of electronic privacy reform.
IT services company CSC will pay US$190 million to settle a case brought by the U.S. Securities and Exchange Commission over four-year-old charges that it violated U.S. antifraud, reporting, and books-and-records laws. The company did not admit guilt, but has promised not to violate those laws in future.
Microsoft co-founder Bill Gates sold 20 million company shares in late October, but thanks to market gains in the past three months, his portfolio was worth more than when he last sold stock, regulatory filings showed.
Five top executives at GT Advanced Technologies, the New Hampshire company that was to supply Apple with scratch-resistant sapphire, including its CEO and COO, cashed in stock worth more than $10 million in the five months before the company declared bankruptcy on Oct. 6, according to regulatory filings.