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After becoming a public company in August 2005, it was revealed that Phillip R. Bennett, the company's CEO and chairman, had concealed $430m of bad debts. Its underwriters were Credit Suisse First Boston, Goldman Sachs, and Bank of America Corp. The company entered Chapter 11 and Bennett was sentenced to 16 years in prison. Bear Stearns: United ...
RockYou – in 2009, the company experienced a data breach resulting in the exposure of over 32 million user accounts. Vestige (online store) – in 2010, a band of anonymous hackers has rooted the servers of the site and leaked half a gigabyte's worth of its private data. [19]
The company's stock was over $28 per share on March 9, 1973. Insiders began selling large positions of stock beginning March 13. The price dropped; following massive share trading volume on March 26, and the price fell to $14 the next day. NYSE suspended trading. [4] The company filed for bankruptcy on April 5, 1973. [4]
Activist short sellers go further: They make a living by publishing reports claiming fraud or other misconduct at a company — and gain when its stock falls. Industry insiders say their research ...
The parent company of Fazoli’s, Fat Brands, was indicted along with former CEO and current board chair Andy Wiederhorn and other executives in a $47 million fraud scheme.
Omega Trust & Trading Ltd. was an American company that engaged in prime bank fraud from 1994 to 2000. [1]: 135–136 The organization was created by retired electrician Clyde Hood, who presented it as an offshore investment program offering complex financial instruments with a payout of 50-to-1 or more.
Smith-Griffin, 33, is the founder and former chief executive of AllHere, the Boston-based company that created "Ed," an artificial-intelligence tool billed as revolutionary for students' education ...
Sholam Weiss (born 1954) is an American convicted fraudster.. In 2000, Weiss was sentenced to 845 years in prison for racketeering, wire fraud, money laundering, and other charges in connection to the collapse of the National Heritage Life Insurance Company.