Brazil’s Ex Richest Man Receives Additional Sentence for Inside Trading (MercoPress.com)
Eike Batista, formerly Brazil’s richest man, was sentenced to an additional eight years and seven months of prison time this week for insider trading. Batista, 62, had already been convicted for paying US$ 16.6m to get government contracts as part of a sprawling corruption probe known as Carwash and sentenced to 30 years, which he is serving under house arrest. Batista’s lawyer Fernando Martins said in an email that the ruling will be appealed. The decision is the first of three cases against Batista for financial crimes, federal prosecutors said in a press release. He was convicted of selling shares in his shipbuilding and logistics company OSX before announcing changes to the company’s business plan that included austerity measures, the prosecutors said.
Altair Engineering Inc (ALTR) CEO James Ralph Scapa Sold $855,304 of Shares (Guru Focus)
CEO of Altair Engineering Inc., James Ralph Scapa, sold 25,156 shares of ALTR on 10/01/2019 at an average price of $34 a share. The total sale was $855,304. Altair Engineering Inc is a provider of enterprise-class engineering software. It also provides services related to its software including consulting, training, implementation services, and support, along with technical services for product development.
Second Party of SodaStream Insider Trading Investigation Revealed (CalcalisTech.com)
Thirty-year-old student Ayala Cohen is the second party in the insider trading investigation surrounding Daniel Birnbaum, the former CEO of SodaStream International Ltd. Tel Aviv district court removed the gag order on her name Thursday. A former SodaStream employee and long-term acquaintance of Birnbaum, Cohen is accused of making use of insider information on three separate occasions, one of them being the 2018, $3.2 billion acquisition by PepsiCo Inc., to make profits of almost NIS 200,000 (around $55,500) on the stock market.
The EVP, Chief Stores Officer of Stage Stores (NYSE: SSI) is Buying Shares (Analyst Ratings)
Yesterday, the EVP, Chief Stores Officer of Stage Stores (SSI), Russ Lundy, bought shares of SSI for $30.8K. Following this transaction Russ Lundy’s holding in the company was increased by 23.3% to a total of $155.6K. In addition to Russ Lundy, one other SSI executive reported Buy trades in the last month.
Johnson Controls International Plc (JCI) Chairman & CEO George Oliver Sold $946,555 of Shares (Guru Focus)
Chairman & CEO of Johnson Controls International Plc., George Oliver, sold 21,805 shares of JCI on 10/01/2019 at an average price of $43.41 a share. The total sale was $946,555. Johnson Controls International PLC manufacturers, installs, and services HVAC systems, building management systems and controls, and industrial refrigeration systems. The firm along with Tyco International offers fire and security products and services. Johnson Controls International PLC has a market cap of $33.08 billion; its shares were traded at around $41.57 with a P/E ratio of 6.32 and P/S ratio of 1.20.
CFTC Orders Interdealer Brokers to Pay $25 Million for Fraud in FX Options Markets (HedgeCo.net)
(HedgeCo.Net) The U.S. Commodity Futures Trading Commission announced today that it issued orders filing and settling charges against two interdealer brokers: BGC Financial, LP and GFI Securities, LLC. The orders find that brokers employed by BGC and GFI on their respective emerging markets foreign exchange options (EFX options) desks made false representations that certain bids and offers were executable and that certain trades had occurred. The orders were entered on Monday, September 30, 2019. The respective orders require BGC to pay a civil monetary penalty of $15 million and GFI to pay a civil monetary penalty of $10 million.
