Saturday, 27 December 2014
Last updated 3 days ago
Oct 31 2012 | 11:11am ET
Shuttered for a day by Hurricane Sandy, the U.S. Supreme Court went back to work today. But that won't help the Lancer Group's Michael Lauer hold on to $62 million.
The high court on Monday refused to grant certiorari to Lauer, who is appealing a $62 million judgment against him. The decision lets stand and 11th Circuit Court of Appeals ruling that the lower court which imposed the judgment "had before it overwhelming evidence of Lauer's knowing false statements" when it awarded the Securities and Exchange Commission summary judgment in 2008.
The SEC accused Lauer of raising more than $1.1 billion by misrepresenting Lancer's returns and strategy. About half of the money raised was lost.
But while the Lancer founder was found civilly liable for fraud, he was acquitted of all criminal charges by a Miami jury last year.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.