A former Goldman Sachs and Procter & Gamble Co. board member convicted of insider trading has been sentenced to two years in prison.
The Wilpon/Katz group claimed a big victory in court today when they reached an overwhelmingly positive settlement. Steve Kallas explains it all…
The trustee recovering money for investors swindled by Bernard Madoff may need a perfect pitch to a jury Monday to force the New York Mets owners to pay up to $303 million.
Owners of the New York Mets lost a key ruling ahead of a federal trial over whether they should return millions of dollars they received from jailed financier Bernard Madoff.
The Mets struck out in court Monday. A federal judge has ordered the team to pay up to $83 million to the trustee recovering money for Bernard Madoff investors.
Arguing on the trustee’s behalf, attorney David Sheehan scoffed at attempts to portray the Mets owners as “unsophisticated run-of-the-mill guys.”
The New York Mets are trying to distance themselves from the Bernie Madoff as their March trial approaches.
A federal judge in New York has struck down a $285 million settlement that Citigroup reached with the Securities and Exchange Commission, citing a need for truth about the financial markets.
The Mets could be forced to pay up to $386 million to resolve claims by Irving Picard — nowhere near the $1 billion he was originally asking for.
Any way you look at it, the 18-page decision filed yesterday by United States District Judge Jed Rakoff in the Mets/Madoff case has to be viewed as a win, even a vindication of sorts, for Mets owners Fred Wilpon and Saul Katz.
The Wilpon/Katz group won a big victory by the mere fact that Judge Rakoff has decided to keep the whole trial (if there is a trial, which there probably will be) in federal district court and not in bankruptcy court.
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