Securities
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A former executive for airport X-ray developer OSI Systems has been charged with using his inside knowledge of OSI and another company to earn more than half a million dollars on illegal securities transactions, federal prosecutors in California said Thursday, months after securities regulators sued over the same transactions… Read this piece in its entirety
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A proposed class of minority shareholders has sued WeWork and the Japanese conglomerate SoftBank Group Corp., as well as executives at both companies, alleging they are shortchanging the minority shareholders with the execs’ “self-interested transactions” as the workspace sharing company flounders… Read this piece in its entirety at Law360.
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Massachusetts-based Bolton Securities Corp. violated federal laws against “self-dealing” trades, racking up $325 million in unlawful transactions, in addition to failing to disclose conflicts of interest, the U.S. Securities and Exchange Commission alleged in a suit filed Monday in Bay State federal court… Read this piece in its entirety at Law360.
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The U.S. Securities and Exchange Commission announced Thursday that the former business chief of Osiris Therapeutics Inc. has agreed to pay $40,000 to exit a case accusing him and other executives of duping an auditor into allowing the biotech company to book fake revenue… Read this piece in its entirety at Law360.
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Greenberg Traurig has agreed to pay $65 million to clear up claims related to its alleged involvement in a $7 billion scheme run by convicted Ponzi scammer R. Allen Stanford, according to a filing Thursday in Texas federal court… Read this piece in its entirety at Law360.
Mike LaSusa 