New Influx of Whistleblower Filings the 'Tip of the Iceberg'

NEWSER

Lawyers say uptick in complaints due to impact of COVID-19, people working from home

While the coronavirus continues to wreak havoc on the economy, it's brought business to one particular group: lawyers for whistleblowers, who've been coming forward in increasing numbers since the pandemic hit. Per an SEC spokesman, the agency received 4,000 or so whistleblower complaints from the middle of March through mid-May—a 35% rise from the same period in 2019. read more »

U.S. Supreme Court rebuffs investors' bid to block Madoff trustee lawsuits

REUTERS

The U.S. Supreme Court on Monday refused to hear a bid by major banks and companies including Koch Industries Inc to prevent a trustee chasing money for victims of imprisoned Ponzi scheme swindler Bernard Madoff from recouping funds that were transferred overseas. read more »

Used Car Seller Billionaires Ernie Garcia II And Son Accused of Insider Trading In Lawsuit

FORBES

The billionaire father and son behind online used car seller Carvana have been accused of insider trading in a lawsuit filed in Delaware by shareholders.

The suit that Ernie Garcia II, and his son, Ernie Garcia III, engaged in self-dealing, using the coronavirus pandemic as an excuse to buy shares at “bargain basement” prices even though they knew Carvana had “a strong balance sheet. read more »