But for most, it has turned out to be another insider trade.
Earlier in November, U.S. Attorney Preet Bharara may have hooked his biggest insider trade, after unveiling new allegations against a SAC Capital Management trader that raises the prospect the worst is yet to come for the hedge fund and its founder Steven A. Cohen.
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Federal prosecutors unsealed a criminal complaint against hedge fund manager Samir Barai, who runs Barai Capital, that accuses him of using insider information to trade in stocks like Marvell Technology, Nvidia and Fairchild Semiconductor.
These four-day barrel tastings, begun as a very insider-y trade presentation for wine merchants interested in selling Bordeaux futures, had become a 4, 500-person slurping festival, a rite of spring for Thai hoteliers, Texas liquor store owners and the nephew of someone's Swedish distributor.
Business Insider is reporting that the Federal Trade Commission is investigating Twitter for the way it handles its platform.
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Laws against insider trading presume a world in which everyone can trade on perfect information.
Or Martha Stewart, founder of Martha Stewart Living Omnimedia, who walked the plank for lying to investigators about a stock trade--not the underlying charge of insider trading.
Or Martha Stewart, founder of Martha Stewart Living Omnimedia (nyse: MSO - news - people ), who walked the plank for lying to investigators about a stock trade--not the underlying charge of insider trading.
For a defendant, the part of the Federal Sentencing Guidelines (FSG) that drives the number of years in prison recommended by the government for is the amount of loss, or in the case of insider trading, the amount of the gain made on the trade from the tip.
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The rules say the next appointee must be a CPA. Sources tell me that the finalists for the open spot include two former female PricewaterhouseCoopers (PwC) professionals including a trade group leader, a female career Washington DC insider, and a male academic who has been a long and strong investor advocate.
With the assistance of an insider trading law so vague that it can be made to fit any trade at all, the prosecutors are cruising Wall Street for targets.
What is sinister, if true, was the recorded phone call of Raj with Galleon personnel to create an email to make it look as if there was a legitimate business dealing when instead a trade had been made based on a quick phone call from an insider.
While FINRA has historically played a key role in combating insider trading, the SEC recently unveiled plans to develop a centralized database that would store information on every single trade order, execution, and cancellation across across numerous equity and options trading markets.
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