The Justice Department has approved Paramount Skydance’s roughly $110 billion acquisition of Warner Bros. Discovery, a major step toward combining two historic Hollywood studios. State regulators, entertainment workers and European Union officials continue to scrutinize the deal.
Posts tagged as “The U.S. Securities and Exchange Commission”
SpaceX is seeking to raise $75 billion in a record IPO that would value the company at roughly $1.75 trillion. The company proposed a $135 share price ahead of an expected Nasdaq debut next week, though the final price remains uncertain.
Former President Donald Trump's social media platform, Truth Social, has suffered a net loss of over $73 million since its launch in February 2021. The filing raises serious doubts about the platform's viability, with independent accountants indicating that the company's financial condition raises substantial doubt as to its ability to continue as a going concern. The platform has faced criticism for its lack of user engagement and its failure to attract a large user base, raising questions about its future and whether it can turn its fortunes around.
Joe Lewis, the British billionaire and owner of the Tottenham Hotspur soccer team, has been indicted in the U.S. on charges of insider trading. U.S. Attorney Damian Williams alleges that Lewis had schemed for years to abuse his access to corporate boardrooms and provided inside information to his inner circle. The SEC is seeking to recover more than $50 million in illegal profits, plus interest and penalties, and Lewis could face up to 20 years in prison if convicted.
Austin real estate developer Nate Paul was arrested by the FBI on Thursday in connection to a scandal involving Texas Attorney General Ken Paxton. The scandal began when Paxton involved his office in the investigation, leading to a chain of events that resulted in his historic impeachment. Paul was arrested on an unspecified federal felony charge, and the outcome of the investigation remains to be seen.
The U.S. Securities and Exchange Commission (SEC) has filed 13 charges against Binance, the world’s largest crypto exchange, and its co-founder Changpeng Zhao for allegedly commingling billions of dollars worth of user funds and sending them to a European company controlled by Zhao, as well as operating as an unlicensed securities exchange in the U.S. without registering with the SEC. The SEC is seeking a permanent injunction, disgorgement of any ill-gotten gains, and civil penalties, while Binance has responded to the charges, stating that they “strongly disagree” with the allegations. The SEC’s actions demonstrate its commitment to protecting investors and upholding its mission of maintaining fair, orderly, and efficient markets.