Judge Orders Payment Of $11M In Trading Scheme

Law360, New York (May 1, 2007, 12:00 AM EDT) -- A Hong Kong-based accounting company and its chief executive officer have been ordered to cough up nearly $11 million to end a lawsuit which accused them of hacking the computer systems of at least 12 U.S. companies to get news releases early and trading on the information gleaned.

Judge Charles S. Haight Jr. of the U.S. District Court for the Southern District of New York recently entered a default judgment on allegations of security fraud against Blue Bottle Limited and Matthew Charles Stokes in an action...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.