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Securities and Exchange Commission News

11 May 2024

Social Commerce Platform Meesho Raises $275 Million

In January this year, global investment firm Fidelity had marked down the value of its holding in social commerce platform Meesho, to $3.5 billion.

02 Sep 2023

Walmart Paid $3.5 Bn To Buy Flipkart Shares From Binny Bansal & Others

Bansal reportedly received about $1-$1.5 billion from his shareholding in Flipkart. Binny, along with Sachin Bansal, exited Flipkart after selling it to Walmart in 2018 for around $16 billion.

Securities and Exchange Commission

29 Mar 2022

THESE Indian-origin techies charged in US for insider trading

Seven Indian-origin persons have been charged by US federal authorities with insider trading in a scheme through which they made over a million dollars in illegal profits. Hari Prasad Sure, 34, Lokesh Lagudu, 31 and Chotu Prabhu Tej Pulagam, 29, are friends and worked as software engineers at Twilio, a San Francisco-based cloud computing communications company, the Securities and Exchange Commission.

19 Feb 2022

US securities agency denies claims it’s harassing Elon Musk

The agency denied it had issued subpoenas in the Musk Twitter case. Early Thursday, lawyers for Musk sent a letter to US District Judge Alison Nathan. The funding was far from secured and the company remains public.

Walmart-Flipkart deal

05 Jun 2018

Walmart expects to close Flipkart deal by the end of 2018

According to a regulatory filing with Securities and Exchange Commission (SEC), Walmart said the ongoing operations of Flipkart are expected to impact the US company's income negatively.

03 May 2017

US Senate confirms Donald Trump's pick for SEC Chairman

US Senate has approved President Donald Trump`s choice Jay Clayton to lead the Securities and Exchange Commission.

JPMorgan Chase & Co

17 Nov 2016

JPMorgan to pay over $250 mn to settle US government probe of China hiring

JPMorgan Chase & Co will pay more than $250 million to settle allegations by the U.S. government that it had hired children of Chinese decision makers to win business, a source familiar with the matter told Reuters.

24 Mar 2016

ExxonMobil, Chevron told to allow investor climate votes

US regulators have told ExxonMobil and Chevron to permit shareholders to vote on resolutions requiring assessments of how climate change policies might affect them, according to documents released Thursday.

23 Feb 2016

Cadbury maker Mondelez faces US action for India bribery case

Cadbury said it is contesting show-cause notices by the excise department in India that has demanded from it unpaid taxes and penalties.

22 Feb 2016

HSBC under lens for hiring candidates linked to govt officials

The bank did not identify the specific country where such hirings could have been made, but said it is cooperating with the investigation by the US markets regulator SEC (Securities and Exchange Commission).

15 Jan 2016

Facebook's COO Sandberg donates $31 million to charity

After Facebook CEO and his wife making a pledge in December to give away 99 percent of their stock over their lifetime, the social networking giant's COO Sheryl Sandberg has decided to donate $31 million in Facebook stock to charity, the media reported on Friday.

Dr Reddy's Laboratories

19 Nov 2015

Dr Reddy's accused of making false claims about financials, shares slump 7%

US-based law firm Lundin Law, which specialises in securities litigations is investigating claims against Dr Reddy's Laboratories for possible violations of federal security laws, which the drug maker has denied.

06 Jun 2015

Logitech sets aside $3.25 mn to cover possible SEC penalty

The maker of computer accessories also said it would see an increase of $0.5 million in inventory and accrual for a balance sheet reclassification and a change of $0.3 million in deferred tax assets tied to these changes.

Securities and Exchange Commission

28 Apr 2015

SEC probes Bank of America over customer funds: Source

The Securities and Exchange Commission is investigating Bank of America to see whether it broke rules by speculating with its customers` funds, a person close to the matter said Tuesday.

US market regulator

03 Dec 2014

SEC charges India-origin person for share sale fraud

US market regulator SEC has charged India-origin Vinay Kumar Nevatia for fraudulent sale of shares to the tune of USD 900,000 by claiming that he owned these stocks.

Whistleblower award

23 Sep 2014

US SEC to pay $30 million-plus in largest whistleblower award

An anonymous tipster living abroad will be receiving more than $30 million.

17 Jun 2014

Ex-Goldman director Gupta loses appeal of $13.9 mn fine, heads to prison

A unanimous three-judge panel said on Tuesday that the standard in a criminal context was different from that in a civil case.

11 Jun 2014

Gupta approaches apex court in last-ditch effort to avoid jail

Gupta, 65, convicted in 2012 of passing confidential board room information to his friend and business associate Raj Rajaratnam, is scheduled to begin his two-year prison term on June 17.

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