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2nd campaign aide to DC mayor pleads guilty
Court Watch |
2012/05/24 15:13
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For the second time in three days, a former campaign staffer to District of Columbia Mayor Vincent Gray has pleaded guilty to a federal offense arising from Gray's 2010 mayoral bid.
Howard Brooks pleaded guilty Thursday to lying to the FBI about payments he made to another mayoral candidate using Gray campaign funds. On Tuesday, former Gray aide Thomas Gore pleaded guilty to making some of the same payments and shredding records of them.
Authorities said the cases makes clear that the Gray campaign engaged in dirty politics.
"Today's guilty plea further reveals the underhanded dealings that tainted the integrity of the 2010 mayoral campaign," U.S. Attorney Ronald Machen said in a statement.
What remains unclear is whether Gray participated in or even knew about the criminal activity. While Gray has suffered politically from the scandal, he has not been implicated in any crimes. He has insisted previously during a long-running federal probe that he knew nothing about the potential misdeeds committed by staffers.
The most serious offenses that arose from the cases against Gore and Brooks occurred after Gray took office and involved attempts to conceal the Gray campaign's schemes. Gore pleaded guilty to shredding records of payments made with Gray campaign funds to Sulaimon Brown, a minor mayoral candidate. And Brooks admitted lying to the FBI about his involvement in giving Brown the money. |
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Regulators probe bank's role in Facebook IPO
Headline Legal News |
2012/05/23 09:30
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Regulators are examining whether Morgan Stanley, the investment bank that shepherded Facebook through its highly publicized stock offering last week, selectively informed clients of an analyst's negative report about the company before the stock started trading.
Rick Ketchum, the head of the Financial Industry Regulatory Authority, the self-policing body for the securities industry, said Tuesday that the question is "a matter of regulatory concern" for his organization and the Securities and Exchange Commission.
The top securities regulator for Massachusetts, William Galvin, said he had subpoenaed Morgan Stanley. Galvin said his office is investigating whether Morgan Stanley divulged to only some clients that one of its analysts had cut his revenue estimates for Facebook before the stock hit the market on Friday.
The bank said late Tuesday that it "followed the same procedures for the Facebook offering that it follows for all IPOs," referring to initial public offerings of stock. It said that its procedures complied with regulations.
The questions about the role played by Morgan Stanley, the lead underwriter for the deal, add to the confusion surrounding Facebook's IPO. In the most hotly anticipated stock debut in years, the offering raised $16 billion for the social networking company, valuing it at $104 billion.
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New charges for Indiana man suspected of killing 3
Court Watch |
2012/05/23 03:30
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A court official says prosecutors are planning to charge a southern Indiana man with murdering a third woman, whose body was found buried in his backyard last month.
The Floyd Superior Court official says Judge Susan Orth found probable cause during a Wednesday hearing to justify charging 54-year-old William Clyde Gibson with murdering 35-year-old Stephanie Kirk. The official declined to give her name, citing court policy, but said she was at the hearing.
Gibson is due in court later Wednesday. He is already charged with murdering 75-year-old Christine Whitis last month and murdering Karen Hodella, a woman visiting from Florida, in 2002.
Gibson was arrested on drunken driving charges last month while driving Whitis' car. Authorities found Whitis' body in his home and found Kirk's buried outside.
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NFL union files suit against league over 2010 cap
Court News |
2012/05/22 09:30
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The NFL Players Association has filed a complaint in federal court accusing the league of colluding to impose a secret salary cap during the uncapped 2010 season.
The claim was filed Wednesday in U.S. District Court in Minnesota, which oversees the Reggie White settlement covering NFL labor matters.
The complaint claims a "conspiracy" to set a $123 million salary cap for the 2010 season, when owners did not have the legal authority to do so. The Dallas Cowboys and Washington Redskins have had their future salary caps lowered for going over the limit in 2010.
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Facebook set to begin trading after $16B offering
Stock Market News |
2012/05/19 09:30
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Facebook is about to find out just how much status updates, puppy photos and billions of "likes" are worth on Wall Street, with CEO Mark Zuckerberg ringing the Nasdaq Stock Market opening bell Friday morning from company headquarters a continent away.
Trading of Facebook's shares has been delayed, but the company's stock was set to begin moving on the Nasdaq a day after the world's definitive online social network raised $16 billion in an initial public offering that valued the company at $104 billion.
The company's valuation is more than Amazon.com's and that of other well-known companies such as Kraft, Walt Disney and McDonald's. It's a big windfall for a company that began eight years ago with no way to make money.
Facebook priced its IPO at $38 per share on Thursday, at the top of expectations. Now, regular investors will have a chance to buy stock in Facebook for the first time. The stock will trade under ticker symbol will be FB.
Facebook has come to define social networking by getting 900 million people around the world to share everything from photos of their pets to their deepest thoughts.
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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The content contained on the web site has been prepared by Securities Law News as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. | Affordable Law Firm Website Design by Law Promo |
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