Reuters - Citigroup Inc will pay $75 million to settle charges that it failed to disclose subprime exposure to investors in 2007, the U.S. Securities and Exchange Commission said on Thursday.
AP - Banking titan Citigroup Inc. is paying $75 million to settle civil charges that it misled investors about its potential losses from subprime mortgages as the housing bust hit in 2007.
AP - Famed Dallas billionaire investors Sam and Charles Wyly made $550 million in undisclosed profits through 13 years of insider trading in the shares of companies on whose boards they served, according to a Securities and Exchange Commission lawsuit filed Thursday.
Reuters - The Securities and Exchange Commission charged billionaire Samuel Wyly and his brother Charles with fraud for reaping more than $550 million of illicit gains by trading stock in four companies while they were serving as directors.
AP - Stocks ended a choppy day with a modest loss Thursday as investors tried to reconcile another batch of conflicting economic signals. Investors are torn between upbeat earnings news from companies and reports that point to an uncertain recovery. Traders were also uneasy ahead of the first reading on U.S. gross domestic product for the April-June quarter, to be released Friday.
Reuters - U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.
