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A former manager of Hong Kong's securities watchdog, Kenneth Leung, along with two others, has been charged with conspiring to commit misconduct by allegedly sharing non-public information about a planned rights issue. Leung, a 30-year-old from the Securities and Futures Commission, and Lai Lit-wai, a 34-year-old nurse, face one count of conspiracy, while Leung and Cheung Tsz-kin, a senior government counsel, face an additional count on the same charge.
Super Micro Computer shares surged over 30% after appointing BDO as its new auditor and submitting a compliance plan to Nasdaq, aiming to retain its listing. Despite this rebound, the company has lost about 75% of its value since March, amid ongoing scrutiny over accounting practices and a DOJ probe. Super Micro, a key player in the AI sector, reported sales exceeding $15 billion last fiscal year, but has faced significant challenges following a delay in filing its annual report.
In the final episode of a series examining the US economy through the chicken industry, the focus is on market competition dominated by a few large poultry processors. The rise of algorithmic pricing has raised concerns about anticompetitive practices affecting consumers and workers. Insights from Department of Justice officials highlight the implications of industry concentration and potential solutions.
A potential second Trump presidency may suggest a resurgence in deal-making, but the future of mergers and acquisitions remains uncertain. Under Biden, the Federal Trade Commission has taken a hard stance against acquisitions, prioritizing consumer protection and fair labor practices, which could lead to unpredictable merger control. This approach has even impacted high-profile deals, such as thwarting a publishing agreement to preserve competitive bidding for authors.
Ernst & Young LLP has resigned as the auditor for Super Micro Computer Inc., citing concerns over the company's governance and transparency. This decision follows a Department of Justice investigation into allegations of accounting rule violations by a former employee. Super Micro is now in the process of finding a new auditor.
UnitedHealth Group and Amedisys are meeting with the Department of Justice (DOJ) to discuss their $3.3 billion merger, aiming to address potential antitrust concerns. This meeting, often seen as a final step before a regulatory decision, follows an investigation that began in August 2023. The DOJ is expected to make a decision by the end of the month, while Amedisys plans strategic divestitures to facilitate the merger, anticipated to close in late 2024.
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former hk securities official charged with insider trading misconduct
07:42 30.11.2024
uper micro shares surge after new auditor appointment and compliance plan
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18:39 19.11.2024
examining market competition and antitrust issues in the chicken industry
10:00 17.11.2024
uncertainty looms over mergers and acquisitions in potential trump presidency
06:00 08.11.2024
ernst and young resigns as auditor for super micro amid doj probe
14:09 30.10.2024
unitedhealth and amedisys seek regulatory approval for 3.3 billion merger
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22:10 28.10.2024
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