A botched case against Hedge Fund Billionaire Steve Cohen

Steve Cohen, Chicago billionaire hedgy, is without doubt enjoying his 4th of July weekend holiday. Throw some more dogs on the grille, baby. It's party time. Invite the neighbors, honey.

It looks as if the federal prosecutors have either botched the case against him or didn't have enough of a case all along.

This case was about the insider-trading scheme run by SAC portfolio manager, Mathew Martoma.

Insider trading is always so very tough to prove. However, it gives lawyers on both sides something to do. And in a tough employment environment for jobs for lawyers, it could be viewed on win-win terms for the legal industry.

Enjoy watching Cubs baseball this weekend!

Steve.

Judge Slams Boss Bloomberg

Judge calls new rule called ‘arbitrary and capricious’

New Yorkers celebrate they are temporarily free from Strongman Bloomberg

New York City economy improves immediately

Stress and anxiety is lowered in Manhattan

Rogue UK Bank Hides $250 Billion in Iranian Transactions

Standard Chartered seemingly played a shell game of hide the Iranian money. But now it has been caught by the state of New York and others and now must suffer the consequences and pay up.

New York State's banking regulator said the UK bank Standard Chartered Bank, motivated by millions of dollars in fees, schemed with the Iranian government to launder $250 billion over the years.

update:

Aug. 8 (Bloomberg) -- Standard Chartered Plc Chief Executive Officer Peter Sands hit back at a New York regulator's claims the lender broke US sanctions, and challenged the accuracy of the watchdog's assertions.

Larry Ellison, a billion dollar hit man

Larry Ellison (chairman of Oracle and #6 on Forbes' 2012 top 10 billionaires) said it this way in a recent deposition: “I … had nothing to do for 15 minutes, so I drafted a press release."

Next came the stuff hitting the fan. Next came the lawsuit.

Now we have everybody going to court. Again.










Read about the amazing story::: How Larry Ellison’s Jury Box Email Could Cost HP Billions

More Facebook Lawsuits

As predicted by Think Billions, more lawsuits against Facebook

Facebook Inc(NASDAQ:FB): Milberg LLP Announces Class Action Lawsuits Filed Against Facebook, Inc. | Mesh Press

The complaints charge Facebook, certain of its officers and directors, and underwriters of the IPO with violations of the Securities Act of 1933.

Zuckers!

Two Shareholders Sue J.P. Morgan Over Trading Losses

NEW YORK—Two shareholder lawsuits were filed late Tuesday against J.P. Morgan Chase JPM +1.74% & Co. and its top executives over the revelation last week that the bank had suffered more than $2 billion in trading losses. The lawsuits alleged that the bank's top executives, including Chief Executive Jamie Dimon, misled investors about the company's investment exposure and the potential risk of loss on those bets.

 "These derivative bets went horribly wrong, resulting in billions of dollars in lost capital for the company and billions more in lost market capitalization for J.P. Morgan shareholders," one of the lawsuits said.

- The Wall Street Journal

Deutsche Bank tells Donald Trump to pay up

Deutsche Bank Trust Co. filed the suit last week in New York state court, alleging Donald Trump didn't pay off a remaining $334.2 million loan due on Nov. 7 to Deutsche Bank and its syndicate of lenders.


Trump Chicago

Just what the hell does Michael Bloomberg have against pregnant women?

This is not a thread about politics, because we talk only business here at Think Billions.

This is a thread about motherhood! and questioning a billionaire's sanity.

The title of the article we are referencing is not the title of the thread. Instead the title of the article is: "Mayor Bloomberg's Delicate Condition."

The article mentions the class action lawsuit, the disturbing sexist behavior and raunchy comments from Bloomberg Himself over the years; but, ultimately resorts to a puff and praise piece for the mayor at the end. Too bad for Portfolio. Read it anyway.

Is Donald Trump a Millionaire?

A New Jersey state appeals court ruled yesterday that a New York Times reporter does not have to reveal the identity of three sources who told him that Donald Trump's true worth lies in the millions of dollars, rather than in the billions as the mogul maintains.

Trump sued Timothy L. O'Brien for $5 billion in Superior Court in Camden, arguing that O'Brien hurt his "brand and reputation" by labeling him a mere millionaire in TrumpNation: The Art of Being the Donald.

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T. Boone Pickens to Lehman Brothers: You Screwed Me!

Billionaire Oilman T. Boone Pickens files $60 million lawsuit against Lehman Brothers


Pickens' lawsuit demands $60 million plus interest and attorney fees from a unit of the late great Lehman Brothers investment bank. Pickens personally claims the largest share of this money—$18.2 million. Four of his BP Capital hedge funds claim the balance (including one registered in the Cayman Islands, a popular tax haven).


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