U.S. prosecutors are examining whether Tesla committed securities or wire fraud by misleading investors and consumers about its electric vehicles’ self-driving capabilities, three people familiar with the matter told Reuters. Tesla’s Autopilot and Full Self-Driving systems assist with steering, braking …
The U.S. Supreme Court declined on Monday to hear Elon Musk’s bid to throw out part of a securities fraud settlement with the Securities and Exchange Commission restricting the billionaire businessman’s public statements about his electric car company Tesla. The …
Alex Mashinsky, the founder and former CEO of bankrupt cryptocurrency lender Celsius Network, was arrested and charged with fraud, a U.S. prosecutor in New York said Thursday, while three federal regulatory agencies sued him and his company. Mashinsky, 57, was …
A disbarred New York lawyer was sentenced yesterday to 36 months in prison for defrauding investors in his now bankrupt litigation finance firm called Cash4Cases. According to the U.S. Attorney for the Southern District of New York, Jaeson Birnbaum previously …
Tesla CEO Elon Musk is appealing a federal court ruling that upheld a securities fraud settlement over Musk’s tweets claiming that he had the funding to take Tesla private in 2018. Musk’s lawyer Alex Spiro filed a notice of appeal …
The star portfolio manager at the center of a fraud at the U.S. funds unit of Allianz SE relied on the German insurer’s good name to lure investors and thrived from a lack of oversight as he pocketed $60 million …
The law firm that defended Martin Shkreli against antitrust charges said it has not been paid, and on Tuesday asked a U.S. judge for permission to withdraw from representing the former pharmaceutical executive best known for hiking the price of …
The U.S. Supreme Court on Monday placed limits on the Securities and Exchange Commission’s practice of forcing defendants to surrender profits obtained through fraud as part of its enforcement of investor-protection laws in federal courts. The court reaffirmed the agency’s …
The Securities and Exchange Commission has charged two companies it says claimed to offer products to combat the COVID-19 virus. One complaint is against against Applied BioSciences Corp. and the other is against Turbo Global Partners, Inc. and its chief …
The U.S. Supreme Court reinforced the Securities and Exchange Commission’s powers, upholding sanctions against an investment banker found to have duped investors about a startup company’s financial condition. The justices, voting 6-2, said Francis V. Lorenzo, who worked at Charles …
