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[News] [Rival] Microsoft Allegedly Storms More Offices; Pequot Microsoft Corruption Revisited

  • Subject: [News] [Rival] Microsoft Allegedly Storms More Offices; Pequot Microsoft Corruption Revisited
  • From: Roy Schestowitz <newsgroups@xxxxxxxxxxxxxxx>
  • Date: Tue, 08 Jun 2010 00:27:14 +0100
  • Followup-to: comp.os.linux.advocacy
  • Newsgroups: comp.os.linux.advocacy
  • User-agent: KNode/4.4.2
Hash: SHA1

Microsoft audits a fact of life 

,----[ Quote ]
| Microsoft has denied speculation that it 
| is taking a more aggressive stance 
| auditing Kiwi businesses that it suspects 
| of using more Microsoft software than they 
| have licences for.
| Legal counsel Waldo Kuipers declined to 
| comment on rumours that one large listed 
| company had agreed to pay Microsoft 
| $900,000 following an audit a year ago. 


The Twists and Turns in the Pequot Inquiry

,----[ Quote ]
| The S.E.C. only began looking at trading 
| by Pequot in 2005, including some well-
| timed investments in Microsoft in April 
| 2001. When it takes that long to start 
| reviewing trades, evidence of how 
| information may have been passed might not 
| be available and the memories of witnesses 
| can fade, making it difficult to put 
| together a case. 
| [...]
| Pequot and its chief executive, Arthur J. 
| Samberg, settled with the S.E.C. by 
| agreeing to pay nearly $28 million as 
| disgorgement and a penalty, without 
| admitting or denying liability, for 
| trading in advance of a favorable earnings 
| announcement from Microsoft. A former 
| Microsoft employee hired by Pequot right 
| around the time of the trading, David E. 
| Zilkha, was named in an administrative 
| complaint filed by the S.E.C. as being the 
| source of the information.



SEC settles charges with Pequot firm over insider trading

,----[ Quote ]
| Pequot Capital Management and its chief
| executive, Arthur Samberg, agreed to pay
| $28 million to settle the SEC's charges
| that the firm traded shares of Microsoft
| based on insider information.


"Integral Capital Management" and "Pequot Ventures / Pequot Capital Management"
have been buying huge chunks of SCO stock. There's a pretty short version of
those degrees-of-separation chains leading back to MSFT if you're a conspiracy theorist.


Pequot Capital to Shut Amid SEC Insider-Trading Probe (Update2)

,----[ Quote ]
| The U.S. Securities and Exchange Commission
| in January resumed a probe into whether
| Sambergâs funds illegally profited in 2001
| by trading on inside information about
| Microsoft Corp., people familiar with the
| matter said at the time. That was about a
| year after the agency told Samberg and
| Morgan Stanley Chief Executive Officer John
| Mack they wouldnât be accused of wrongdoing
| related to insider trading.


SCO's 10K, MyDoom, and the Morgan Keegan letters

,----[ Quote ]
| VSpring Capital (SCO)
| Vector Capital (SCO)
| IDG Ventures (Broadmark)
| Group Atlantic Partners, LLC (Broadmark)
| Paladin Capital Group (Broadmark)
| Pequot Capital (Broadmark)
| Technology Crossover Ventures (Broadmark)
| Ram Capital Resources, LLC (Impact Capital)
| Crestview Capital Fund (Impact Capital)


Finally: Fried Frank, Wachtell on Pequot Insider Trading Settlement

,----[ Quote ]
| Fried, Frank, Harris, Shriver & Jacobson
| and Wachtell, Lipton, Rosen & Katz played
| key roles brokering a $28 million
| settlement that resolves a long-simmering
| allegation that Pequot Capital Management,
| the Westport-based hedge fund, committed
| insider trading in Microsoft securities in
| 2001, according to SEC officials.
| The SEC filed suit against Pequot and its
| chairman, Arthur Samberg, today and
| announced at the same time that Pequot and
| Samberg agreed to pay $28 million combined
| in disgorged profits and penalties to
| settle the case. (They did not admit or
| deny guilt.) Federal investigators had been
| looking into the allegations since at least
| 2005 but closed early investigations after
| failing to find enough evidence to bring a
| case, according to our prior reporting. But
| then something happened that didn't help
| Pequot: The employee at the center of the
| case got divorced, and e-mails implicating
| the employee, David Zilkha, in the insider
| trading scheme came to light in filings.
| Zilkha joined Pequot in 2001 after working
| for Microsoft, and he used his contacts at
| Microsoft to tip Pequot to the fact that
| Microsoft was about to release a better-
| than-expected earnings report in the spring
| of 2001. Pequot then made $14 million on
| trades of Microsoft securities, according
| to the SEC's complaint.


Feds Charge Two In Insider-Trading Plot Involving Disney

,----[ Quote ]
| Wowza. Folks out at Disneyâs HQ in Burbank,
| Calif., are probably doing a bit of glassy-
| eyed headshaking on Wednesday, in wake of a
| criminal complaint filed a few hours ago.
| The complaint, filed by federal prosecutors
| in Manhattan, has alleged that a former
| administrative assistant to Disneyâs head
| of communications and her boyfriend tried
| to sell advance access to the companyâs
| second-quarter earnings reports. Click here
| for the WSJ story; here for the criminal
| complaint.



Microsoft exec dumped stock prior to Red Ring announcement

,----[ Quote ]
| To make matters more murky, the sales were not registered with the Securities
| and Exchange Commission within the mandatory two days of the transaction, a
| result of an alleged "administrative error." Microsoft has since remedied the
| issue by following the "procedures required of late-filers."


Microsoft's Bach sold more stock before Xbox news

,----[ Quote ]
| Microsoft Corp. executive Robbie Bach sold $3 million more in company stock
| during the period leading up to an announcement about a costly flaw in its
| Xbox video game console than previously reported, according to a filing
| Monday with the Securities and Exchange Commission.


Insider Trading Hasn't Affect Microsoft Stock - Yet

,----[ Quote ]
| MarketWatch.com reports that Robbie Bach, president of Microsoft's
| Entertainment and Devices division, sold $6.2 million of Microsoft
| stock just prior to announcing that Microsoft was going to have to
| extend XBox 360 warranties to three years because of extensive
| failures. The filings note that this was not part of any
| scheduled diversification or selling program; this was a
| conscious, unscheduled sale by the guy in charge of releasing
| news that could affect the value of Microsoft stock.
| [...]
| Insider trading is a very serious violation of the law; just
| ask Martha Stewart, who served five months in prison for
| avoiding losses of $43,000 through trades that just had suspicious
| timing (no insider trading was actually proven). This is $6.3
| million that went straight into Robbie Bach's pocket.


,----[ Quote ]
| A Connecticut divorce judge ordered Tuesday that $250,000 be placed in escrow
| that a hedge fund planned to pay a former Microsoft employee amid a federal
| investigation of possible insider trading.
| [...]
| The Securities and Exchange Commission earlier this year reopened its probe
| of possible insider trading at Pequot. It's investigating if Pequot traded
| Microsoft Corp.  ( MSFT -  news  -  people ) shares on confidential
| information provided by Zilkha, whom it had hired.

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