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BUSINESS
September 15, 1998 | BARBARA MARSH, TIMES STAFF WRITER
The Securities and Exchange Commission is dropping its 3-year-old investigation of alleged insider trading by ICN Pharmaceuticals Inc. and its chairman, Milan Panic, lawyers for the Costa Mesa drug company said Monday. The agency's inquiry had focused on Panic's highly publicized 1994 sale of 55,000 company shares, worth $1.2 million, the day after he learned the government wouldn't approve the sale of ICN's drug ribavirin as a stand-alone treatment for the serious liver ailment hepatitis C.
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NATIONAL
March 2, 2013 | By Rong-Gong Lin II and Maeve Reston, Los Angeles Times
The Las Vegas casino company headed by high-profile Republican donor and billionaire Sheldon Adelson said it probably violated a federal law that prohibits the bribery of foreign government officials. Las Vegas Sands Corp. said its auditors found that "there were likely violations" of the Foreign Corrupt Practices Act, which bars Americans from bribing foreign officials to secure an advantage. The disclosure was made in a filing Friday with the Securities and Exchange Commission.
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BUSINESS
March 2, 1992 | JAMES BATES
The San Francisco 49ers quarterback and past Super Bowl hero was featured recently in an ad campaign for the Franklin group of investment funds in San Mateo, Calif. The ads were to have run until around the middle of this year. But the SEC called time out, citing language in a 1940 law governing investment advisers and products that shields consumers from misleading ads. A spokesman for the SEC said commission officials believe that "testimonials are inherently misleading."
BUSINESS
February 8, 2012 | By Nathaniel Popper, Los Angeles Times
Regulators are proposing dramatic reforms to one of the most popular places for retail investors to put their cash: money-market funds. The staff at the Securities and Exchange Commission is drawing up new rules that would govern the $2.7-trillion money-market-fund industry after the ultra-safe reputation of the funds came into question during the financial crisis. Money-market funds have long provided the safety and accessibility of a checking account with slightly higher returns thanks to a strategy of making almost risk-free short-term loans.
OPINION
November 12, 2009
The federal jury that acquitted two Bear Stearns hedge-fund managers of securities fraud this week undermined the government's effort to find crimes in Wall Street's epic collapse. That's just half the story, though, and as far as investors are concerned, the less interesting half. Ralph Cioffi and Matthew Tannin, the men in charge of the two failed hedge funds, still face a lawsuit by the Securities and Exchange Commission. The SEC's filing demonstrates that agency's ability to pursue investment managers even when their funds are unregulated.
BUSINESS
April 28, 2009 | John Corrigan
Mary Schapiro, the new Securities and Exchange Commission chief, was certain to take a get-tough stance at the agency -- after Bernie Madoff, what other choice did she have? But in addition to all the steps she's taking along those lines -- a new enforcement director, streamlined rules for launching investigations, new procedures for following up on the 2,000 or so hotline tips the agency receives daily -- the SEC also is trying to make itself more transparent.
BUSINESS
May 6, 2011 | By Nathan Olivarez Giles, Los Angeles Times
Barnes & Noble Inc. is set to announce a new e-reader May 24, according to a regulatory filing from the company. "In a meeting with investor analysts on May 4, 2011, Barnes & Noble Inc. ... indicated it expects to make an announcement on May 24, 2011, regarding the launch of a new e-reader device," Barnes & Noble said in a filing with the Securities and Exchange Commission. The bookseller and e-reader maker didn't say what the new device would be called, cost or look like.
CALIFORNIA | LOCAL
May 9, 2009 | David Zahniser
As a member of the powerful Los Angeles Fire and Police Pensions board, Sean Harrigan's private financial life intersected repeatedly with the business of his agency, which oversees a $10.7-billion portfolio on behalf of retired public employees. Long before he was caught up in a national investigation into the way public pensions are managed, Harrigan took a consulting job with a law firm that was applying to get work from his board, records show.
BUSINESS
May 20, 1990 | DEAN TAKAHASHI, TIMES STAFF WRITER
Southland Communications Inc. isn't listed in the phone book. The small firm, which does business as National Paging Co., has about 70 employees and an unassuming, single-story headquarters on Village Way in Santa Ana. Plagued by working capital deficits and net losses for the past five years, publicly held Southland is hardly the kind of company that catches the eye of the press or big Wall Street investors.
BUSINESS
May 17, 1990 | GREGORY CROUCH, TIMES STAFF WRITER
A federal jury in Los Angeles on Wednesday took just over an hour to decide that an Anaheim stockbroker and a Torrance printer engaged in securities fraud when they traded stocks based on information culled from advance copies of Business Week magazine. In the civil trial--the first stemming from a series of nationwide insider trading cases involving the magazine's "Inside Wall Street" column--the eight-person jury found that stockbroker Brian J. Callahan conspired with printer William N.
ENTERTAINMENT
August 26, 2011 | By Robert Abele
What should have been a disturbing examination of a colossal financial crime in "Chasing Madoff" is instead a disturbed one. Using an irritably distracting collage of hopped-up graphics, archival footage and faux-noir re-creations in black and white, director Jeff Prosserman's frenzied documentary focuses on the scandal's much-noted whistle-blower, a securities analyst named Harry Markopolos, who had been trying for 10 years — before Bernard Madoff's...
BUSINESS
May 6, 2011 | By Nathan Olivarez Giles, Los Angeles Times
Barnes & Noble Inc. is set to announce a new e-reader May 24, according to a regulatory filing from the company. "In a meeting with investor analysts on May 4, 2011, Barnes & Noble Inc. ... indicated it expects to make an announcement on May 24, 2011, regarding the launch of a new e-reader device," Barnes & Noble said in a filing with the Securities and Exchange Commission. The bookseller and e-reader maker didn't say what the new device would be called, cost or look like.
BUSINESS
February 9, 2011 | By Richard A. Serrano, Los Angeles Times
Intensifying a crackdown on alleged insider trading by hedge funds, federal prosecutors have brought criminal charges against four more people, two of whom have already pleaded guilty. The actions in federal court in New York are the latest in a widening investigation by a special hedge fund task force created by the Securities and Exchange Commission and coordinated by the Obama administration that is designed to stem financial crimes. Two of those charged had connections to Primary Global Research of Mountain View, Calif.
OPINION
November 12, 2009
The federal jury that acquitted two Bear Stearns hedge-fund managers of securities fraud this week undermined the government's effort to find crimes in Wall Street's epic collapse. That's just half the story, though, and as far as investors are concerned, the less interesting half. Ralph Cioffi and Matthew Tannin, the men in charge of the two failed hedge funds, still face a lawsuit by the Securities and Exchange Commission. The SEC's filing demonstrates that agency's ability to pursue investment managers even when their funds are unregulated.
BUSINESS
September 15, 2009 | Walter Hamilton and Tom Petruno
In a rare move, a federal judge threw out a deal in which Bank of America Corp. would have paid $33 million to settle charges that it misled shareholders about $3.6 billion in bonuses being paid to Merrill Lynch & Co. executives, contending that the punishment was too light. U.S. District Judge Jed Rakoff in New York also lashed out at federal regulators, saying they didn't dig deeply enough to determine whether Bank of America executives intentionally set out to deceive shareholders about plans to pay bonuses to employees of Merrill Lynch last year, when the bank was acquiring the Wall Street firm.
CALIFORNIA | LOCAL
May 9, 2009 | David Zahniser
As a member of the powerful Los Angeles Fire and Police Pensions board, Sean Harrigan's private financial life intersected repeatedly with the business of his agency, which oversees a $10.7-billion portfolio on behalf of retired public employees. Long before he was caught up in a national investigation into the way public pensions are managed, Harrigan took a consulting job with a law firm that was applying to get work from his board, records show.
BUSINESS
February 9, 2011 | By Richard A. Serrano, Los Angeles Times
Intensifying a crackdown on alleged insider trading by hedge funds, federal prosecutors have brought criminal charges against four more people, two of whom have already pleaded guilty. The actions in federal court in New York are the latest in a widening investigation by a special hedge fund task force created by the Securities and Exchange Commission and coordinated by the Obama administration that is designed to stem financial crimes. Two of those charged had connections to Primary Global Research of Mountain View, Calif.
ENTERTAINMENT
August 26, 2011 | By Robert Abele
What should have been a disturbing examination of a colossal financial crime in "Chasing Madoff" is instead a disturbed one. Using an irritably distracting collage of hopped-up graphics, archival footage and faux-noir re-creations in black and white, director Jeff Prosserman's frenzied documentary focuses on the scandal's much-noted whistle-blower, a securities analyst named Harry Markopolos, who had been trying for 10 years — before Bernard Madoff's...
BUSINESS
April 28, 2009 | John Corrigan
Mary Schapiro, the new Securities and Exchange Commission chief, was certain to take a get-tough stance at the agency -- after Bernie Madoff, what other choice did she have? But in addition to all the steps she's taking along those lines -- a new enforcement director, streamlined rules for launching investigations, new procedures for following up on the 2,000 or so hotline tips the agency receives daily -- the SEC also is trying to make itself more transparent.
BUSINESS
September 15, 1998 | BARBARA MARSH, TIMES STAFF WRITER
The Securities and Exchange Commission is dropping its 3-year-old investigation of alleged insider trading by ICN Pharmaceuticals Inc. and its chairman, Milan Panic, lawyers for the Costa Mesa drug company said Monday. The agency's inquiry had focused on Panic's highly publicized 1994 sale of 55,000 company shares, worth $1.2 million, the day after he learned the government wouldn't approve the sale of ICN's drug ribavirin as a stand-alone treatment for the serious liver ailment hepatitis C.
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