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Corporations and securities brief ~ GE subpoenaed in federal reinsurance probe

[JURIST] Leading Monday's corporations and securities law news, General Electric Company [corporate website] has been subpoenaed by the US Attorney's Office for the Southern District of New York. In a press release issued Monday, GE said that the subpoena is part of an on-going government probe into the reinsurance and finite risk industry. AP has more.

In other corporatiions and securities law news...

  • Roger Blackwell [faculty profile], a professor at Ohio State University’s Fisher business school [official website], has been convicted of insider trading. Blackwell told friends about Kellogg Co.’s [corporate website] impending purchase of Worthington Foods Inc. while he was on the board of directors for Worthington. Blackwell faces up to 10 years in prison. AP has more.

  • As reported earlier on JURIST's Paper Chase, Adelphia [corporate website] founder John Rigas [Wikipedia profile] and his son Timothy have been sentenced for corporate fraud. The elder Rigas, 80 and stricken with cancer and heart problems, was sentenced to 15 years in prison. The younger Rigas, 49 and the ex-CFO of Adelphia, was given a 20 year sentence for his part in conspiracy, bank fraud and securities fraud. Bloomberg has more.

About Paper Chase

Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible format.

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