A U.S. appeals court vacated the conviction of former Jefferies Group LLC trader Jesse Litvak, the latest turn in a case that has spanned more than five years and helped usher in changes to sales tactics on Wall Street. Mr. Litvak had been convicted of securities fraud related to the sale of residential mortgage-backed bonds and has been serving a two-year prison sentence. But the U.S. Court of Appeals for the Second Circuit on Thursday said a district court “materially erred” in admitting evidence related to a trade cited... … [Read more...] about Former Jefferies Trader Litvak’s Conviction Is Tossed Out
NEW YORK (Reuters) - A federal appeals court on Thursday overturned former Jefferies Group mortgage bond trader Jesse Litvak’s second criminal conviction for defrauding a customer about bond prices, finding the jury in the case had wrongly been allowed to hear irrelevant evidence. The ruling from the 2nd U.S. Circuit Court of Appeals comes more than two years after the court threw out Litvak’s first conviction in the case. It sent the case back to the U.S. District Court in Connecticut, where prosecutors may choose to put Litvak on trial a third time. Thomas Carson, a spokesman for the Connecticut U.S. Attorney’s office, said it was reviewing the decision and declined to comment further. A lawyer for Litvak had no immediate comment. Prosecutors accused Litvak, 43, of lying to customers such as Invesco Ltd, AllianceBernstein and Soros Fund Management about bond prices from 2009 to 2011, generating $2.25 million of illegal profit for his employer and hoping to boost … [Read more...] about Ex-Jefferies trader gets second fraud conviction thrown out
The Axa holds 160,611 shares with $14.70 million value, down from 167,696 last quarter.At traded at GBX 210 lastly.It's since April 28, 2017 and is 0.00% down. About 31,175 shares traded. Eurocell plc (LON:ECEL) has 0.00% since April 28, 2017 and is. RIV underperformed by 11.55% the S&P 500."Buy" rating has 3, "Sell" are 0, while 0 are "Hold". American Water Works had 34 analyst reports since October 15, 2015 according to SRatingsIntel. The company was maintained on Wednesday, March 28 by Morgan Stanley. The firm earned "Hold" rating on Wednesday, December 20 by Liberum Capital. The firm earned "Buy" rating on Monday, June 19 by Peel Hunt. The company rating was maintained by Canaccord Genuity on Monday, January 29. On Friday, September 9 the stock rating was maintained by N+1 Singer with "Buy". Shore Capital maintained Taylor Wimpey plc (LON:TW) on Wednesday, February 7 with "Hold" rating.The company also recently declared a dividend, which will be paid on Tuesday, May 1st. … [Read more...] about Can analysts adopt a bullish outlook for Man Group plc (LON:EMG)?
(AP) NEW YORK - Investment bank Jefferies (JEF) says it's liquidated most of its positions in brokerage firm Peregrine Financial Group and does not expect to incur a loss associated with the troubled firm. Accounts were frozen at Peregrine late Monday by an industry group that believes it may have falsified bank statements and hasn't been able to account for customer funds. The action follows a reported suicide attempt by its founder and chairman, Russell R. Wasendorf Sr., Federal regulators followed with civil fraud charges against Peregrine Tuesday, accusing the firm and its owner of misusing customer funds and failing to keep them separate from the firm's money as required by law. The Commodity Futures Trading Commission is also asking a court to freeze the firm's assets and appoint a receiver to take over the firm.$220M missing at Iowa brokerageCFTC files civil fraud charges against Peregrine The National Futures Association said late Monday that it received … [Read more...] about Jefferies doesn’t expect loss tied to Peregrine
NEW YORK Leucadia National (LUK) is buying the investment banking firm Jefferies Group (JEF) for about $2.6 billion in stock. Leucadia is a diversified holding company that also has interests in industries such as manufacturing, oil and gas-drilling services and gambling as well as a 28.6 percent stake in Jefferies. Jefferies analyst: Don't count Uggs out yet Jefferies doesn't expect loss tied to Peregrine Jefferies will become a Leucadia subsidiary if the deal is approved and will be Leucadia's largest business. It will still operate as a full-service investment banking firm. After the deal closes, 35.3 percent of Leucadia's stock will be owned by Jefferies Group stockholders. As part of the deal, Jefferies Chairman and CEO Richard Handler will become the CEO of Leucadia. Leucadia's Chairman and CEO Ian Cumming will retire but remain on the board. Leucadia President Joseph Steinberg will become the company's chairman. Jefferies' stockholders will receive 0.81 of a share of Leucadia … [Read more...] about Leucadia National to buy Jefferies Group for $2.6B