The Daily Caveat is written by Michael Thomas, a recovering corporate investigator in the Washington, DC-area. [More]
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9/07/2008
Wells Notice Suggests Impending Revenue Recognition Settlment from GE
A Massachusetts Angle on the Auction Rate Securities Mess
Cuomo's Auction Rate Securites Probe Gets More Ambitious
Massachusetts Hits Merrill Lynch With Fraud-Related Charges
SEC Announces Charges Against Chairman of Former Enron Energy Services
State of New York Files Suit Against UBS
Wells Notice Suggests Impending Revenue Recognition Settlment from GE
Given their recent love letter from the SEC, three years in to the agency's revenue recognition probe of the company, GE has announced that they've begun preliminary settlement talks and are looking to head off a potential civil complaint.
-- MDT
9/01/2008
-- MDT
Labels: auction rate securities, GE, revenue inflation, wells notice
A Massachusetts Angle on the Auction Rate Securities Mess
By way of an interview with Massachusetts Secretary of State William F. Galvin.
-- MDT
8/13/2008
-- MDT
Labels: auction rate securities
Cuomo's Auction Rate Securites Probe Gets More Ambitious
...with the addition of a few more minor names, like JPMorgan Chase, Morgan Stanley and Wachovia.
-- MDT
8/07/2008
-- MDT
Labels: auction rate securities, JPMorgan, Morgan Stanley, New York AG, Wachovia
Massachusetts Hits Merrill Lynch With Fraud-Related Charges
Auction rate securities fraud charges, to be exact. According to the Massachusetts AG, Merrill continued talking up ARS to analysts and - worse - advising its customers to buy into ARS, even as Merrill itself was ditching.
Real classy.
-- MDT
7/29/2008
Real classy.
-- MDT
Labels: auction rate securities, Fraud, Merrill Lynch
SEC Announces Charges Against Chairman of Former Enron Energy Services
Enron... The name just makes me nostalgic. Probably less so for Lou Pai, formerly Chairman and CEO of Enron Energy Services, who the SEC recently charged with insider trading, circa May to June 2001. Pai immediately settled, accepting a hefty ($30 million plus) financial penalty and a to a five-year bar from serving as officer or director of a public company. Pai's settlement did not require an admission of guilt.
-- MDT
7/25/2008
-- MDT
Labels: auction rate securities, Enron, Lou Pai
State of New York Files Suit Against UBS
With its tax evasion and auction rate securities woes, UBS is sure getting it hard at both ends these days. Details on the NY suit right here.
-- MDT
-- MDT
Labels: auction rate securities, lawsuit, tax evasion, UBS
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