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SAC Capital settles $1.2bn insider trading case

April 11, 2014

A Manhattan Federal Court has approved SAC Capital’s $1.2 billion (€867 million) settlement for insider trading.

A Manhattan Federal Court has approved SAC Capital’s $1.2 billion (€867 million) settlement for insider trading.

As part of the settlement, SAC Capital is required to pay the $1.2 billion financial penalty on top of the $616 million it had already agreed to pay to the US Securities & Exchange Commission.

US prosecutors announced in November last year that SAC Capital had agreed to plead guilty to insider trading charges, although its founder Steven Cohen was not charged with any crime.

LVMH drops appeal against fine for Hermes stake

September 4, 2013

French luxury group LVMH has announced it is abandoning its appeal against the record-breaking fine it incurred for its secret stake in rival luxury house Hermes.

LVMH remained defiant, however, saying in a statement that it still disputed the ruling but had to consider the time and cost of further proceedings and focus on the management of its slice of Hermes.

Bernard Arnault's giant was hit with an €8 million penalty from the French financial regulator Autorite des Marches Financiers in early July for failing to comply with disclosure rules.

Toyota agrees to pay $16.4 million fine

April 20, 2010

Toyota Motor Corporation, the family-controlled automaker, announced yesterday it would pay the $16.4 million fine imposed on the company by the US Department of Transport.

Toyota said it had taken the decision "in order to avoid a protracted dispute and possible litigation, as well as to allow us to move forward fully-focused on the steps to strengthen our quality assurance operations."