'Somebody was using somebody to make statements that will stir the stock market and lead to a surge.' 'A sudden surge and a sudden crash is always an ideal situation for people to make illicit gains and then siphoning off the money.'
Gupta, who has not been indicted in the criminal trial of Galleon Group founder Raj Rajaratnam, faces civil charges from the Securities and Exchange Commission for allegedly passing confidential information about Goldman Sachs to the defendant.
This settlement relates to an accounting fraud perpetrated by the company's former management from at least 2003 through September 2008.
Business process outsourcing company Genpact has set the ball rolling for a $600 million (around Rs 2,500 crore) initial public offer on New York Stock Exchange
The US government has asked a court in New York to slap a maximum penalty of $15 million on India-born fallen Wall Street titan Rajat Gupta and permanently bar him from serving as director of any publicly-traded firm for his "terrible breach of trust" by indulging in insider trading.
This was disclosed in a filing to the US Securities and Exchange Commission, in which Motorola outlined the compensation that Jha stands to gain.
De Castro is the second big appointment that Yahoo! has made from its rival Google. Earlier this year, Yahoo! appointed former Google executive Marissa Mayer as its chief executive.
Pharmaceutical major Dr Reddy's Laboratories Ltd on Tuesday said it will offer up to 13.5 million American Depositary Shares.
Sebi is learnt to have written to several regulators including those in Bermuda, Luxembourg, and Switzerland, seeking detailed information on some FPIs.
Facebook co-founder Dustin Moskovitz has sold another 450,000 shares of the social networking major so far this week, reducing his holding to just 6.15 million of Class A stock, which have lesser voting rights than Class B stock.
UAL and Continental Airlines closed their merger on October 1 creating the world's largest carrier by traffic.
The SEC is talking tough about changing how these agencies work. But we have a few suggestions of our own for how to make ratings firms credible again.
Yahoo!'s new Chief Executive Marissa Mayer will get a compensation package of more than $59 million over the next several years.
The England and West Indies cricket boards suspended sponsorship negotiations with financier Allen Stanford following fraud allegations against the Texas billionaire on Tuesday. The US Securities and Exchange commission charged Stanford and three of his companies with alleged fraud involving a multi-billion dollar investment scheme.
Indian American Rajat Gupta, a former director at Goldman Sachs, had violated the firm's code of conduct by disclosing details from a 2008 board meeting to hedge fund manager Raj Rajaratnam, the main accused in the largest hedge fund insider trading case to hit US courts, the company CEO Lloyd Blankfein has testified.
Wipro Chairman and CEO Azim H Premji received the highest annual remuneration in the company for the fiscal 2006-07. Premji who also holds 79.58 per cent stake in the company, got an annual remuneration of $721,522.
Kraft Foods, the world's second biggest food company, has said it is facing investigation by the Securities and Exchange Commission (SEC) for possible corrupt practices in India by its arm Cadbury, relating to a manufacturing plant there.
The Wall Street Journal has reported that the SEC has contacted many investment banks whose analysts cover generic drug-maker Mylan, asking about a meeting the company hosted last September with those analysts and a group of investors.
Voting for 10 constituencies was held from 7 am to 3 pm in 10 seats and from 8 am to 5 pm in the rest 10 segments under a thick security blanket of police and paramilitary personnel in the Naxalite-hit Bastar division.
Attracted by what he calls a highly lucrative market for long-term investors, an Indian American has launched a private investment partnership to trade stocks of small- and medium-sized Indian companies that offer abundant investment opportunities.
SEC rules require companies with 500 or more shareholders of record in a given type of stock to publicly disclose certain financial information.
"Following preliminary investigations, FSA has decided to commence a formal enforcement investigation into Goldman Sachs International in relation to recent SEC allegations. FSA will be liaising closely with SEC in this review," FSA said in a statement today. No further details were provided.
She was found guilty in January of duping investors and lying about the technology after a three-month trial.
Thiruvananthapuram-born Dr Zachariah P Zachariah, a prominent cardiologist in Fort Lauderdale, Florida, has been exonerated of all charges in a long-standing US Securities and Exchange Commission insider trading case.
Attributing to people familiar with the plan, the Financial Times said that SEC and Federal Reserve officials were warned by Merrill Lynch about Lehman's balance sheet calculations as far back as March 2008.
After Chanda and Deepak Kochchar, the Kudvas are the second power couple in the financial world to come under the regulatory glare.
A latest filing by the company to the US regulator Securities and Exchange Commission stated, "Eric, Larry and Sergey have voluntarily elected to receive only nominal cash compensation. Their primary compensation continues to come from returns on their ownership stakes in Google." Consequently, the company's top executives -- Schmidt, Page and Brin -- do not receive any salary or plan-based bonus other than one dollar per year, proxy statement filed by Google stated.
In a filing to the Securities and Exchange Commission, Yahoo said executive vice president of the American region Hilary Schneider will be 'leaving Yahoo after a transition period.'
Citigroup Inc has defended its $75 million settlement with the Securities and Exchange Commission over under-declaration of its subprime mortgage exposure, setting the stage for a federal judge to decide on whether to approve the deal, according to a media report.
Goldman Sachs is likely to face a fine of around 20 million pounds from UK financial regulator FSA, just months after US Securities and Exchange Commission imposed a penalty on the banking major, a media report said.
After oscillating over 486 points, the 30-share Sensex settled 38.44 points, or 0.10 per cent, lower at 39,020.39. It hit an intra-day low of 38,840.76 and a high of 39,327.15.
The three main political parties in Pakistan on Sunday intensified their efforts for the formation of a coalition government after it became clear that the coup-prone country faced a hung Parliament after general elections marred by allegations of rigging.
Jha's compensation for 2010 included a salary of $900,000 and stock and option awards of about $10 million, the company said in a filing with the Securities and Exchange Commission on Tuesday.
Lawyers of embattled Goldman Sachs met with representatives of the US market regulator SEC this week, a move seen as an attempt to settle the lawsuit against the banking major, according to reports.
Sunil Bhalla, a senior executive with Polycom, along with three others was named in fresh charges filed by the US Securities and Exchange Commission on Monday.
Infosys Technologies is now compliant with Section 404 of the United States' Sarbanes Oxley Act of 2002 (SOX Act) well ahead of the mandatory deadline of March 31, 2007.
Prabhat K Goyal, CFO, Network Associates, faces criminal charges for an accounting scam that duped investors by inflating the company's sales figures.
Motorola has modified the terms of compensation for co-chief executive Jha, including a bigger paycheck, if the restructuring falls through.
The move indicates that Morgan Stanley would keep a watch on its risk-taking ability a year after the global financial meltdown.
The U.S. Federal Bureau of Investigation and others have been investigating whether Texas billionaire Allen Stanford was involved in laundering drug money for Mexico Gulf cartel, ABC News reported on Wednesday, citing federal authorities.
