Stock Market

SEC Charges Allianz Global Investors and Three Former Senior Portfolio Managers with Multibillion Dollar Securities Fraud Washington D.C. — The Securities and Exchange Commission (SEC) this week charged Allianz Global Investors U.S. LLC (AGI US) and three former senior portfolio managers with a massive fraudulent scheme that concealed the immense downside risks of a complex options trading strategy they called...

Defendants, including persons barred from the brokerage industry, allegedly sold shares they didn’t own, and pocketed more than $75 million Washington D.C. — The Securities and Exchange Commission announced this week that it obtained asset freezes and other emergency relief against StraightPath Venture Partners LLC, StraightPath Management LLC, Brian K. Martinsen, Michael A. Castillero, Francine A. Lanaia, and Eric D....

SEC Halts Fraudulent Cryptomining and Trading Scheme Washington D.C. — The Securities and Exchange Commission this week announced fraud charges against MCC International Corp. (MCC), which does business as Mining Capital Coin Corp., its founders Luiz Carlos Capuci, Jr. (aka Junior Caputti or Capuci) and Emerson Souza Pires (Pires), and two other entities controlled by Capuci, CPTLCoin Corp. (CPTLCoin) and...

Multiple Archegos Executives Charged with Misleading Counterparties Washington D.C. — The Securities and Exchange Commission has charged Sung Kook (Bill) Hwang, the owner of family office Archegos Capital Management, LP (Archegos), with orchestrating a fraudulent scheme that resulted in billions of dollars in losses. The SEC also charged Archegos’s Chief Financial Officer, Patrick Halligan; head trader, William Tomita; and Chief...

Since 2016, Vale manipulated safety audits and obtained fraudulent stability certificates Washington D.C. — The Securities and Exchange Commission has charged Vale S.A., a publicly traded Brazilian mining company and one of the world’s largest iron ore producers, with making false and misleading claims about the safety of its dams prior to the January 2019 collapse of its Brumadinho dam....

Fed Maintains Interest Rates, Suggests Tapering Of $120B In Monthly Asset Purchases Could Happen 'Soon' The Federal Reserve maintained its target fed funds rate range of between zero and 0.25%. The Fed also said it may soon begin tapering its monthly asset purchases “If progress continues broadly as expected, the Committee judges that a moderation in the pace of asset purchases...

Equity Investors will be able to outperform the imminent stock market crash Accredited Investors know that the best returns on investment are achieved by investing early in a companies growth cycle. 2020 will go down in history as one of the most volatile and erratic years on the stock market with historic highs and unheard-of lows. While the US and the...

Wall Street has a new obsession: special purpose acquisition companies (SPACs). SPACs are an alternative to the traditional way businesses raise money known as initial public offerings (IPOs). Since January 1, 2021 SPACs have raised over $88 billion, making up 83 percent of public offerings this year and raising more money than they did in all of 2020. As investment banks and professional investors celebrate this booming...

Bumble Raises $2.15 Billion in IPO at $7 Billion Post-Money Valuation Bumble Inc, a dating app operator backed by buyout firm Blackstone Group Inc, sold shares in its initial public offering (IPO) on Wednesday at $43 apiece above its target range, to raise $2.2 billion. The IPO gave the Austin, Texas-based company a market capitalization of more than $7 billion. Bumble...

Amazon Says Independent Corporations on Its Platform Provided Over $4.8 Billion Worth of Objects Over Weekend Amazon.com Inc stated on Tuesday Independent corporations selling on its platform crossed $4.8 billion in worldwide product sales from Black Friday by Cyber Monday, an increase of higher than 60% from a 12 months earlier. In its first indication of effectivity for the 12 months's...