Thursday, August 03, 2006

QUICK BITS --

Pump & Dump indictments -- "This just in: eight brokers have been indicted in an alleged 'pump-and-dump' scheme to artificially inflate the stock of Stratus Services Group Inc., a New Jersey temporary-staffing company. Manhattan District Attorney Robert M. Morgenthau announced the news at a press conference this afternoon."

WSJ Law Blog Backdating Roundup. Speaking of which, "A judge on Wednesday ordered $2 million bail for former Brocade Communications Systems Inc. (BRCD.O) Chief Executive Gregory Reyes in the first criminal hearing arising from investigations into alleged stock-option manipulations."

Federal Judges Tax Break -- "The massive bill, which would cut estate taxes and raise the minimum wage, would also extend to federal judges a tax benefit now available only to members of the executive branch: a tax-free rollover of capital gains on holdings sold to avoid conflicts of interest while in office."