insider trading news stories on Newser

Groupon Stock Hike Probed

Rob Quinn — Fri, 18 May 2012 02:04:00 CDT

Did Groupon insiders try for a daily deal of their own? A Wall Street regulator is probing some fishy trading activity in the hours before the company released stronger-than-expected financial results earlier this week, sources tell the Wall Street Journal . Shares in the company—which had fallen more than 50%...

Senate Sends Insider Trading Bill to Obama

Thu, 22 Mar 2012 14:26:14 CDT

The Senate today sent President Obama a scaled-down bill to explicitly ban members of Congress, the president, and thousands of other federal workers from profiting from nonpublic information learned on the job. In an unusual move, the legislation passed unanimously without a vote on the measure itself. Instead it passed...

Goldman's Golden Analyst Under Investigation

Kevin Spak — Wed, 15 Feb 2012 08:20:56 CST

Federal investigators have set their sights on famed Goldman Sachs tech analyst Henry King in a broadening insider trading probe. The Feds suspect King, who is known for his spot-on calls, may be leaking inside information from Taiwanese electronic parts manufacturers to US investors, sources tell the Wall Street Journal...

Insider-Trading Probe Targets House Committee Chair

Rob Quinn — Fri, 10 Feb 2012 07:50:41 CST

Foxes have been found guarding hen houses on Capitol Hill in the past, but ethics investigators now believe they have identified a particularly greedy one. Rep. Spencer Bachus, chair of the House Financial Services Committee, is being probed for possible violations of insider-trading laws, reports the Washington Post . The investigation...

Watered-Down Insider Trading Bill Set to Pass House

Kevin Spak — Thu, 09 Feb 2012 08:50:02 CST

House legislators are almost sure to pass a bill officially banning them from insider trading today, but it will be missing a few teeth compared to its Senate counterpart. Eric Cantor has pulled out a provision that would have required K Street consultants who sell Congress' inside tips to Wall...

Senate Passes Insider Trading Ban

Rob Quinn — Fri, 03 Feb 2012 03:53:00 CST

Lawmakers in Congress are inching closer to deciding, somewhat belatedly, that they shouldn't be allowed to profit by playing the stock market using inside information they have gleaned on Capitol Hill. A bill that bans insider trading by lawmakers and thousands of executive branch officials is heading to the House...

Congress Moves to Ban Its Own Insider Trading

Kevin Spak — Mon, 30 Jan 2012 08:41:05 CST

Soon, insider trading may be illegal for lawmakers, too . In an effort to boost its historically low approval rating, the Senate will today hold a procedural vote allowing it to later this week pass a bill banning Congress from trading on nonpublic info, or giving that info to others to...

Feds Nab 7 in $61.8M Stock Fraud Case

Wed, 18 Jan 2012 10:22:46 CST

Seven people have been charged in an insider trading scheme that netted more than $61.8 million in illegal profits based on trades of a single stock, prosecutors announced today. Two New York hedge fund executives and a Massachusetts man were among four charged in a criminal complaint in federal...

Lawmakers Give Inside Info to Big Investors—Legally

Kevin Spak — Tue, 20 Dec 2011 07:55:09 CST

Congressmen aren’t the only ones trading on their inside info . A lucrative practice has sprung up in Washington, in which hedge funds and other investors pay handsomely for private meetings with top lawmakers or their aides, who give them an early scoop on market-moving news, the Wall Street Journal reports....