Goldman VP, Poker Player and Lovers In Insider-Trading Plot (Bloomberg Quint)
(Bloomberg) — It’s like the cast of a new “Ocean’s 11” movie: a Greek with a chain of Manhattan restaurants, the son of a pharmaceuticals company board member, a poker-playing securities trader in Monaco, a Goldman Sachs Group Inc. vice president and a London investment banking couple who called each other “Pops” and “Popsy.” They’re all accused of participating in a “wide-ranging international insider-trading ring.” U.S. prosecutors unveiled the charges in the past week, piggy-backing on similar actions taken in France and the U.K. in recent years. Taken together, it’s a dramatic assault on a network of bankers and traders operating on both sides of the Atlantic who allegedly reaped tens of millions of dollars in illicit profits.
PPL Corp (PPL) Chairman and CEO William H Spence Sold $7.1 million of Shares (Guru Focus)
Chairman and CEO of PPL Corp., William H Spence, sold 215,020 shares of PPL on 10/22/2019 at an average price of $33 a share. The total sale was $7.1 million. PPL Corp is an energy and utility holding company operating through its subsidiaries. The company generates and markets electricity in the northeastern and western U.S. and in the delivery of electricity in Pennsylvania and the U.K. PPL Corp has a market cap of $23.86 billion; its shares were traded at around $33.04 with a P/E ratio of 13.60 and P/S ratio of 3.11.
SodaStream CEO Allegedly Gave Ayala Cohen NIS 400,000 to Buy Company Stock (CalcalisTech.com)
The plot of SodaStream’s ongoing insider trading investigation thickens. Israel Securities Authority (ISA) investigators have discovered that Daniel Birnbaum, the former CEO of SodaStream International Ltd., transferred over $113,250 (NIS 400,000) to Ayala Cohen, his acquaintance suspected of using insider information to trade in the company’s stock. According to investigation transcripts reviewed by Calcalist, Birnbaum is suspected of giving Cohen the money to assist her with buying $85,000-worth (NIS 300,000) of SodaStream stock ahead of the company’s announcement of its $3.2 billion acquisition by PepsiCo Inc., from which Cohen gained a profit of $42,500 (NIS 150,000).
A Director at Destination XL (NASDAQ: DXLG) is Buying Shares (Analyst Ratings)
Today, a Director at Destination XL (DXLG), Mitchell Presser, bought shares of DXLG for $35.5K. This recent transaction increases Mitchell Presser’s holding in the company by 6.91% to a total of $510.7K. In addition to Mitchell Presser, 2 other DXLG executives reported Buy trades in the last month.
SEBI Said To Start Probe Against Infosys Over Whistleblower Charges (Bloomberg)
The market regulator has begun its probe into alleged non-disclosure of price-sensitive information by Infosys Ltd.’s management and corporate governance lapses in the wake of allegations levelled by a whistleblower, officials said on the condition of anonymity. Securities and Exchange Board of India is also examining possible insider trading in the company’s securities, they added. Sources said the regulator has already asked the stock exchanges to collate trading data of Infosys’ shares as well as about derivative positions, while details are being sought about alleged non-disclosure of key information.
Goldman Banker Denies Insider Trading As Gov’t Suspects 6 (Law360.com)
Law360, New York (October 22, 2019, 5:24 PM EDT) — A Goldman Sachs investment banker denied insider trading charges in Manhattan on Tuesday as prosecutors announced three arrests in what they call a large-scale illegal tipping ring with six total suspects located in the U.S., Europe and Thailand that generated tens of millions of dollars in illegal profits. Bryan Cohen, 33, a French national who is on leave from the $75 billion megabank, pled not guilty to charges of wire fraud conspiracy and securities fraud conspiracy before U.S. District Judge William H. Pauley III. Judge Pauley set Cohen free on a $750,000 bond – denying a prosecution request for him to…
