U.S. hedge fund manager Raj Rajaratnam has agreed to pay disgorgement of about $1.5 million in a civil lawsuit filed by the Securities and Exchange Commission, and to waive his right to appeal the judgment. Rajaratnam would make the payment, representing the profits obtained illegally. Rajaratnam, the founder of Galleon Group, is currently serving an 11-year prison term, for securities fraud and conspiracy. He was running a network of friends and associates who leaked corporate secrets to him for years. Rajaratnam, has already paid $63.8 million in criminal penalties, and a judge had earlier ordered him to pay $92.8 million in a civil case brought by the SEC. THIS is where the solution for the Fiscal Cliff lies! And it has been right before our eyes. Just get all the financial institutions to pay finews for all their illegal endeavors and we should be fine for the next 10 years!
US chipmaker Marvell Technology might have to pay one of the biggest ever patent damage awards. A jury in Pittsburgh found the firm guilty of infringing two hard disk innovations owned by local university Carnegie Mellon. It said Marvell should pay $1.17bn in compensation – however that sum could be multiplied up to three times by the judge because the jury had also said Marvell Technology knew it was infringing on the patent. The maximum penalty would be close to the $3.96bn value of the company, based on its market capitalisation. Marvell’s shares fell more than 10% and the damage award is potentially the biggest in US patent history. Lesson learned I hope – don’t mess with Carnegie Mellon!
Even Mark Zuckerberg’s family seems to be confused by Facebook’s privacy settings. A picture that Zuckerberg’s sister posted on her personal Facebook profile, was seen by a marketing director, who then posted the picture to Twitter and her more than 40,000 followers. This move was not very well received by Zuckerberg’s sister, Randi, who tweeted at Callie Schweitzer that the picture was meant for friends only and that posting the private picture on Twitter was “way uncool.” Schweitzer replied by saying the picture popped up on her Facebook news feed. Apparently the picture shows four people standing around a kitchen staring at their phones with their mouths open, with Mark Zuckerberg in the background. Randi Zuckerberg used the opportunity to write about online sharing etiquette, where according to her you should always ask permission before posting a friend’s photo publicly. It’s not about privacy settings, it’s about human decency,” she posted on Twitter. But some people think the issue isn’t really about etiquette, but rather Facebook’s ever changing and often confusing privacy settings.
U.S. hedge fund manager Raj Rajaratnam has agreed to pay disgorgement of about $1.5 million in a civil lawsuit filed by the Securities and Exchange Commission, and to waive his right to appeal the judgment. Rajaratnam would make the payment, representing the profits obtained illegally. Rajaratnam, the founder of Galleon Group, is currently serving an 11-year prison term, for securities fraud and conspiracy. He was running a network of friends and associates who leaked corporate secrets to him for years. Rajaratnam, has already paid $63.8 million in criminal penalties, and a judge had earlier ordered him to pay $92.8 million in a civil case brought by the SEC. THIS is where the solution for the Fiscal Cliff lies! And it has been right before our eyes. Just get all the financial institutions to pay finews for all their illegal endeavors and we should be fine for the next 10 years!
US chipmaker Marvell Technology might have to pay one of the biggest ever patent damage awards. A jury in Pittsburgh found the firm guilty of infringing two hard disk innovations owned by local university Carnegie Mellon. It said Marvell should pay $1.17bn in compensation – however that sum could be multiplied up to three times by the judge because the jury had also said Marvell Technology knew it was infringing on the patent. The maximum penalty would be close to the $3.96bn value of the company, based on its market capitalisation. Marvell’s shares fell more than 10% and the damage award is potentially the biggest in US patent history. Lesson learned I hope – don’t mess with Carnegie Mellon!
Even Mark Zuckerberg’s family seems to be confused by Facebook’s privacy settings. A picture that Zuckerberg’s sister posted on her personal Facebook profile, was seen by a marketing director, who then posted the picture to Twitter and her more than 40,000 followers. This move was not very well received by Zuckerberg’s sister, Randi, who tweeted at Callie Schweitzer that the picture was meant for friends only and that posting the private picture on Twitter was “way uncool.” Schweitzer replied by saying the picture popped up on her Facebook news feed. Apparently the picture shows four people standing around a kitchen staring at their phones with their mouths open, with Mark Zuckerberg in the background. Randi Zuckerberg used the opportunity to write about online sharing etiquette, where according to her you should always ask permission before posting a friend’s photo publicly. It’s not about privacy settings, it’s about human decency,” she posted on Twitter. But some people think the issue isn’t really about etiquette, but rather Facebook’s ever changing and often confusing privacy settings.