The U.S. Securities and Exchange Commission charges Neil Cole, former CEO of Iconix Brand Group, with accounting fraud.
The U.S. Securities and Exchange Commission approves new rules that will allow companies that wish to raise capital, and be listed on the New York Stock Exchange, to use direct listings instead of IPOs.
Proceedings begin in the trial of Maurice "Hank" Greenberg, former chairman of the giant insurance company AIG, on charges of accounting fraud. The 2005 indictment accuses Greenberg and AIG's former CFO of setting up bogus reinsurance transactions to conceal the insurer's financial difficulties in 2000 and 2001.
"The Wall Street Journal" reports that the FBI and SEC have launched an insider trading investigation involving billionaire investor Carl Icahn, Las Vegas gambler and investor Billy Walters, and golf superstar Phil Mickelson. No wrongdoing has yet been alleged.
BP announces it will plead guilty to charges of manslaughter and obstruction of Congress, and will pay a total of US$4.5 billion to the US Department of Justice and Securities and Exchange Commission.
In the Mark Cuban insider trading case, an appeals court overturns a district court decision last fall that had dismissed the civil charges brought against Cuban by the U.S. Securities and Exchange Commission.