Log into your Newser account
Joined Newser on:
Find what you're looking for
More about Newser:
Want to contribute?
Suggest a Story
Get our apps:
Install our app:
Stories 21 - 40 |
SEC Puts Damper
on Hertz Plan to
Jun 18, 2020 7:43 AM CDT
SEC Puts Damper on Hertz Plan to Sell Possibly 'Worthless' Stock
Car rental company wanted to dump $500M in common stock during bankruptcy proceedings
- After a tumultuous few months, Hertz now has another wrench thrown into its works. Unable to endure the coronavirus pandemic, the car rental company filed for bankruptcy protection last month, then noted Monday in a government filing that it planned to sell $500 million in common stock—all while warning...
New Influx of Whistleblower
Filings the 'Tip of the Iceberg'
in case you missed it
Jun 6, 2020 3:00 PM CDT
New Influx of Whistleblower Filings the 'Tip of the Iceberg'
Lawyers say uptick in complaints due to impact of COVID-19, people working from home
- While the coronavirus continues to wreak havoc on the economy, it's brought business to one particular group: lawyers for whistleblowers, who've been coming forward in increasing numbers since the pandemic hit. Per an SEC spokesman, the agency received 4,000 or so whistleblower complaints from the middle of...
SEC: Facebook Is
Hiding Illegal Activity
May 27, 2020 11:05 AM CDT
Whistleblowers to SEC: Facebook Is Hiding Illegal Activity
'WaPo' describes claims, including from an ex-Facebook moderator, on drug, child porn sales
- A whistleblower complaint filed with the SEC claims Facebook has failed to adequately police illegal activity on its platform, including sales of drugs and child pornography. The complaint filed Tuesday by critics, including a former Facebook content moderator, further claims Facebook has hidden the extent of illegal activity from its...
Will Pay US
$3B to Settle
List of Abuses
Feb 21, 2020 4:30 PM CST
Wells Fargo Will Pay US $3B to Settle List of Abuses
Accounts were opened without customers' consent
- Wells Fargo agreed Friday to pay the government $3 billion to settle investigations into a series of abuses that went on for years, including opening accounts for customers without their approval. The deal wraps up federal civil and criminal cases, the
Wall Street Journal
reports, though criminal charges could be...
Boeing 737 Max Could
Be Back in the Sky
Oct 9, 2019 11:16 AM CDT
Boeing 737 Max Could Be Back in the Sky Come January
Per a new American Airlines filing with the SEC
- All Boeing 737 Max aircraft were grounded after two crashes involving the jets over the past year killed a total of 346 people. But come January, the planes will likely be in the air again. American Airlines announced in a Securities and Exchange Commission filing on Wednesday that two software...
SEC Is Going After
VW's 'Ill-Gotten Gains'
Mar 15, 2019 5:33 AM CDT
SEC Is Going After VW's 'Ill-Gotten Gains'
Car maker says it will 'vigorously' defend itself
- The SEC is going after Volkswagen. At issue: upwards of $13 billion in bonds and asset-backed securities issued here between April 2014 to May 2015—a period when, the SEC's lawsuit alleges, Volkswagen's upper echelons were well aware that its 500,000 diesel vehicles in the US were...
in Hot Water
Over a Tweet
Feb 26, 2019 1:33 AM CST
Elon Musk in Hot Water Yet Again Over a Tweet
SEC wants Tesla CEO held in contempt
- Tesla CEO Elon Musk's tweeting habits have triggered another legal challenge from stock market regulators worried about him using his Twitter account to mislead investors, the AP reports. The latest dust-up emerged late Monday when the Securities and Exchange Commission asked a federal court in New York to hold...
Oct 5, 2018 3:36 AM CDT
Defiant Elon Musk Mocks SEC on Twitter
He calls them the 'Shortseller Enrichment Commission'
- Elon Musk is a man of many talents, but knowing when to stop tweeting apparently isn't one of them. The Tesla CEO, who has agreed to pay $20 million and step down as chairman to settle a lawsuit brought by the Securities and Exchange Commission over a "false...
Musk's New Fight Poses Huge
Risk to Tesla—and Himself
Sep 28, 2018 11:11 AM CDT
Musk's New Fight Poses Huge Risk to Tesla—and Himself
SEC complaint is 'road map to criminal charges,' says one biz journalist
- The SEC's decision to sue Elon Musk and seek his ouster as chairman of Tesla came after Musk pulled out of settlement talks at the last minute, reports CNBC . Under the deal, Musk would have paid a fine but admitted no wrongdoing in regard to his infamous tweet in...
Gets Tesla an
Aug 15, 2018 2:29 PM CDT
Musk's Tweet Gets Tesla an SEC Subpoena, Sources Say
Sources tell Fox, New York Times the SEC has opened a formal investigation
- There were rumblings that the SEC wanted to talk to Elon Musk about his tweet saying he was considering taking Tesla private and had "funding secured." Now, sources tell Fox Business Network , the San Francisco office of the SEC has indeed subpoenaed Tesla and the investigation is a...
Aug 14, 2018 11:40 AM CDT
So What's Going On With Tesla, Elon Musk?
The SEC wants to know, and rapper Azealia Banks has some theories
- It sure has been an interesting week for Tesla CEO Elon Musk, and things might get worse before they get better. The controversy began last Tuesday when Musk startled his own company board by announcing that he might take Tesla private and, in fact, had "funding secured." Now...
Elon Musk's Tesla Tweet
May Have Been Illegal
Aug 9, 2018 2:16 AM CDT
Elon Musk's Tesla Tweet May Have Been Illegal
Sources say SEC is investigating claim that funding secured for Tesla move
- Elon Musk's tweet about potentially taking Tesla private was definitely unorthodox—and it may also have been illegal, according to analysts and regulators. Sources tell the
Wall Street Journal
that the Securities and Exchange Commission wants to know more about Musk's tweet, specifically the part about funding being...
Mar 15, 2018 9:40 AM CDT
Worst Part of Theranos Scandal Isn't SEC Fraud
It's duping actual patients, writes Bloomberg columnist
- She was the first female founder of a Silicon Valley startup to become a billionaire before it all came crashing down. Now Elizabeth Holmes' personal fortune is gone , and she has just settled with federal regulators who say her company, Theranos, lied to investors about its supposedly revolutionary blood-testing equipment....
He Dumped All
His Equifax Stock.
Now, Criminal Charges
Mar 14, 2018 11:10 AM CDT
He Dumped All His Equifax Stock. Now, Criminal Charges
Jun Ying charged with insider trading
- Before Equifax went public with news of its massive data breach last September, Jun Ying, the company's then-US chief information officer, exercised and sold all his stock options. Now the SEC says the nearly $1 million move was insider trading, and Ying has been charged to that end in...
SEC: Our Filing System
Sep 21, 2017 6:46 AM CDT
SEC: Our Filing System Got Hacked
Which could have allowed some illegal trading to transpire
- The Securities and Exchange Commission said Wednesday that a cyber breach of a filing system it uses may have provided the basis for some illegal trading in 2016. Chairman Jay Clayton said a review of the agency's cybersecurity risk profile determined that the previously detected "incident" was caused...
Sources: Equifax Execs Who
Sold Shares Now Eyed by Feds
Sep 18, 2017 2:47 PM CDT
Sources: Equifax Execs Who Sold Shares Now Eyed by Feds
There's reportedly a criminal probe into insider trading suspicions
- Right after Equifax discovered it had suffered a huge security breach , three senior executives dumped nearly $2 million in shares —and now the feds are looking to see if there was any criminality involved. Per Bloomberg , sources familiar with the investigation say the Justice Department will be seeking evidence...
Alleged Insider Trader Maybe
Did Too Much Googling
Jul 14, 2017 8:31 AM CDT
Alleged Insider Trader Maybe Did Too Much Googling
Didn't cover up online search history for 'insider trading' too well, prosecutors say
- If you don't want the SEC to pick up on the fact that you've carried out an unusual trade, you probably shouldn't Google "how sec detect unusual trade," or "insider trading in an international account." Those are the phrases that federal prosecutors allege...
2 Charged in
Tied to Adele,
Jan 30, 2017 5:03 AM CST
2 Charged in Ponzi Schemes Tied to Adele,
Joseph Meli, Steven Simmons joked about their $81M 'shell game': FBI
- Two men were charged Friday with roles in Ponzi schemes that cheated wealthy people, including some who believed they were investing in ticket businesses for popular shows like an Adele concert and Broadway's
Joseph Meli, 42, of Manhattan, and Steven Simmons, 48, of Wilton, Conn., were arrested on...
SEC May Have Issue
With Tesla's Actions
After Autopilot Crash
Jul 12, 2016 12:30 AM CDT
SEC May Have Issue With Tesla's Actions After Autopilot Crash
Sources say SEC is investigating possible rules breach
- Tesla notified the National Highway Traffic Safety Administration after its first fatal crash involving Autopilot mode , but it didn't bother telling investors about the May 7 crash, and that could land the company in hot water. Sources tell the
Wall Street Journal
that the Securities and Exchange Commission is...
Power If He Leaves
Jun 3, 2016 12:35 PM CDT
Facebook Makes Move for Zuckerberg's Power If He Leaves
Board wants to curb his voting clout if he departs
- It's hard to imagine Facebook without the face of Mark Zuckerberg at its helm, but that's exactly what the site's board of directors is anticipating in its latest proposal to the SEC. Per Reuters , the board submitted a proxy filing Thursday, notifying the federal agency that it...
Stories 21 - 40 |
Popular on Newser
Family in 'Unbearable Pain' After Mother Found in Gator's Jaws
'Nightmare' Exodus Begins Amid Fears of Ethnic Cleansing
Forget WFH. It's Time to WFG
Fans Boo as Miami Dolphins Opt Not to Go for NFL Record
He's Erasing a 2012 Murder, One Pitch at a Time
On This Day:
10 Years of Headlines
We're glad you're here.
As an ad-supported site,
Newser can't exist without ads.
To read our stories, you'll
need to tweak one thing.
OK, tell me what to do
If you're using:
An ad-blocker, please whitelist Newser
by clicking the ad-blocker icon in your browser.
(Examples: Adblock Plus
, and Ghostery
A DuckDuckGo extension in your browser, please access Newser without it: Either by removing it, whitelisting us, or using another browser.
Thanks so much.