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Activist investors see Ackman-Valeant deal as a model to follow
By Reuters
04/23/2014 11:15:52 AM ET

NEW YORK (Reuters)— William Ackman's $47 billion joint bid with Valeant Pharmaceuticals International Inc. to buy Botox maker Allergan Inc. may become a model for future deals, rival fund managers said.
Pershing Square's Ackman promised ex-Herbalife exec as much as $3.6 million: report
By Reuters
04/22/2014 5:59:31 PM ET

WASHINGTON (Reuters)—Hedge fund manager William Ackman secretly promised a former Herbalife executive-turned-whistleblower as much as $3.6 million in case he lost the job he took after leaving Herbalife, ABC News reported on Tuesday [April 22] on its website.
Texas businessman Wyly takes stand in $550 million securities trial
By Reuters
04/22/2014 5:54:57 PM ET

NEW YORK (Reuters)—Texas businessman Sam Wyly took the stand in his civil trial in New York on Tuesday [April 22] and denied U.S. Securities and Exchange Commission claims that he and his brother used a complex network of offshore trusts to conceal years of stock trades and net $550 million in undisclosed profit.
U.S. prosecutor grilled over insider trading definition in key appeal
By Reuters
04/22/2014 5:50:41 PM ET

NEW YORK (Reuters)—A U.S. prosecutor faced tough questioning by a federal appeals court Tuesday [April 22] over what must be proved to secure insider trading convictions, with one judge calling the government's view of the law "amorphous.
ValueAct's Ubben says firm will not seek new term on Valeant board
By Reuters
04/22/2014 5:37:38 PM ET

NEW YORK (Reuters)—Hedge fund manager Jeffrey Ubben, whose firm ValueAct sits on the board of Valeant Pharmaceuticals, said on Tuesday [April 22] that the hedge fund will not seek reelection on the board in order to devote its time on Microsoft Corp.'s board.
Barclays joins retreat from commodities as new rules bite
By Reuters
04/22/2014 2:00:53 PM ET

LONDON (Reuters)—Barclays will quit most of its commodities trading businesses, joining a broader retreat by banks as profits tumble in the face of tougher regulation. The British bank's exit means three of the top five banks in commodities have significantly reduced or shuttered their natural resource trading arms since last summer, with profits hit by regulatory demands for lenders to hold more capital to shield them against any problems.
Ackman, Valeant team up to bid for Allergan in unusual pairing
By Reuters
04/22/2014 12:04:05 PM ET

BOSTON/NEW YORK (Reuters)—Activist investor William Ackman teamed up with Canadian drugmaker Valeant Pharmaceuticals International Inc. to make a joint run at buying wrinkle-treatment maker Allergan Inc.
U.S. court signals narrow bondholders win in Argentina subpoena case
By Reuters
04/22/2014 11:30:37 AM ET

WASHINGTON (Reuters)—U.S. Supreme Court justices on Monday [April 21] indicated that creditors should be able to seek limited information about Argentina's non-U.
Rajaratnam's brother loses bid to dismiss insider trading charges
By Reuters
04/21/2014 12:09:41 PM ET

NEW YORK (Reuters)—Rengan Rajaratnam, the younger brother of imprisoned hedge fund manager Raj Rajaratnam, on Friday [April 18] lost a bid to dismiss some of the insider trading charges leveled against him last year. U.
No U.S. IRS audits for most big financial partnerships: report
By Reuters
04/21/2014 10:22:42 AM ET

WASHINGTON (Reuters)—Fewer than 1 percent of partnerships with more than $100 million in assets, including hedge funds and private equity firms, are audited by the U.S.
U.S. SEC's information technology at risk of hacking: GAO
By Reuters
04/17/2014 5:41:54 PM ET

WASHINGTON (Reuters)—The U.S. Securities and Exchange Commission has failed to protect its data network against possible breaches, to encrypt highly sensitive information, or to use strong enough passwords, the Government Accountability Office said on Thursday [April 17].
Trafigura steps out of the shadows in academic case study
By Reuters
04/17/2014 4:05:54 PM ET

Editor's note: This version of the story corrects the spelling of Andrew Gowers' first name in the 4th paragraph. NEW YORK (Reuters)—A detailed new case study scrutinizing the risk-management Swiss-based Trafigura is the latest effort to "demystify" the once-secretive commodity trading industry, just big merchants seek to fill a void being left by Wall Street banks.
Illinois investigates Herbalife as federal, state probes grow
By Reuters
04/17/2014 4:14:28 PM ET

BOSTON (Reuters)—Illinois Attorney General Lisa Madigan's office said on Thursday [April 17] it is investigating Herbalife , joining other state and federal probes of allegations that the weight loss and nutrition company is running a pyramid scheme. Herbalife's share price closed down 0.
Ex-Goldman director Gupta to surrender June 17 in insider case
By Reuters
04/17/2014 3:02:54 PM ET

NEW YORK (Reuters)—Former Goldman Sachs Group Inc. director Rajat Gupta is expected to begin his two-year prison term on June 17 for insider trading. U.
New York prosecutor probes high-speed trading
By Reuters
04/17/2014 11:18:54 AM ET

NEW YORK (Reuters)—The New York attorney general is probing more than half a dozen high-speed trading firms, a person familiar with the matter said on Wednesday [April 16], as part of his wide-ranging probe into alleged unfair technology advantages on Wall Street. Attorney General Eric Schneiderman's office is seeking information on special relationships between exchanges and so-called dark pools, platforms where large trades take place out of sight of the rest of the market.
Lasry, Edens buy Milwaukee Bucks
By Reuters
04/16/2014 6:34:07 PM ET

MILWAUKEE (Reuters)—Hedge fund managers Marc Lasry and Wesley Edens are buying the National Basketball Association's Milwaukee Bucks for $550 million from businessman and former U.S.
U.S. Senate duo urges Fed clampdown on banks and commodities
By Reuters
04/16/2014 6:20:21 PM ET

WASHINGTON (Reuters)—Two U.S. senators on Wednesday [April 16] pushed the Federal Reserve to write tough new rules to limit Wall Street's role in commodity markets, stepping up pressure for a clampdown on some of the country's largest banks.
Proliferation of new products also drives U.S. stock market complexity: SEC
By Reuters
04/16/2014 12:01:42 PM ET

NEW YORK (Reuters)—A desire by investors for more investment products contributes to excessive complexity in the U.S. stock market, the U.S. securities regulator in charge of analyzing the stock market's structure said on Tuesday [April 15].
Elliott Management reaffirms $3.36 billion bid for Riverbed
By Reuters
04/15/2014 2:26:52 PM ET

NEW YORK (Reuters)—Hedge fund Elliott Management reaffirmed its $3.36 billion offer for network gear maker Riverbed Technology Inc. after being rebuffed twice, saying it remained "extremely interested" in acquiring the company.
Amber Capital to force shareholder vote on Nexans CEO
By Reuters
04/15/2014 12:33:07 PM ET

PARIS (Reuters)—Nexans shareholder Amber Capital said it plans to force a vote on a resolution to push Chairman and Chief Executive Frederic Vincent off the board at the cable maker's annual shareholder meeting on May 15. Nexans made a loss in 2013 and skipped its dividend for the year after being forced to raise new share capital in October, blaming a lack of growth in Europe and industry overcapacity.

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