Goldman Sachs Tumbles on 1MDB Scandal and 'Fear of the Unknown'

Goldman Sachs Group Inc.’s reputation is facing one of its biggest crises of the decade -- and now its shares are, too.

Since prosecutors implicated a trio of Goldman Sachs bankers in a multibillion-dollar Malaysian fraud early this month, investors have endured an almost daily drip of news on the firm’s ties to the scandal. The barrage culminated Monday as the country’s finance minister demanded a “full refund,” tipping Goldman’s shares into their biggest drop since 2011. read more »

Sinclair and 5 other media firms settle Justice Department claims they manipulated TV ad prices

Some of the biggest names in broadcast television have reached a settlement with government regulators after the Justice Department filed a lawsuit alleging that the companies shared private information with one another in ways that enabled them to subtly manipulate TV ad prices.

"The unlawful exchange of competitively sensitive information allowed these television broadcast companies to disrupt the normal competitive process of spot advertising in markets across the United States," Makan Delrahim, the Justice Department's antitrust chief, said in a statement.

By sharing advertising sales data, the companies gained insight into one another's operations that they would not have had otherwise, according to the Justice Department's lawsuit. The added information gave them the ability to develop specialized pricing strategies and greater leverage over advertisers when negotiating with them for deals. read more »

SEC Settles Insider Trading Claims Against Former Chairman and CEO of Advanced Medical Optics

The Securities and Exchange Commission today announced that it has agreed to resolve its insider trading claims against James V. Mazzo, the former Chairman and Chief Executive Officer of Advanced Medical Optics, Inc. (AMO) for allegedly tipping information about his company's acquisition to his close personal friend, former professional baseball player Douglas V. DeCinces. read more »