In a groundbreaking decision that has sent shockwaves through the real estate industry, the United States’ premier real estate brokerage firms have been held responsible for a staggering $1.8 billion in damages. This verdict comes after allegations of a seven-year conspiracy to compel homeowners to pay substantial commissions to...
The Securities and Exchange Commission has intervened to protect what it claims are vulnerable investors, securing an emergency asset freeze against Julie Anne Darrah, a Santa Maria, California-based investment adviser, and her hybrid RIA Vivid Financial Management Inc. The regulatory body alleges that Darrah and VFM engaged in a fraudulent...
In a case that is being closely watched by the financial sector, the civil fraud trial against former President Donald Trump regarding allegations of exaggerated property valuations could commence as early as Monday. An appeal by Trump to postpone the trial was dismissed by a New York appeals court...
In a significant ruling, Judge Arthur Engoron determined Tuesday that Donald Trump and his real estate company had deceived financial institutions, insurers and other entities by drastically inflating asset values and misrepresenting his net worth in official documents meant for deal-making and obtaining financing. The ruling emerged from a civil...
In a move set to bolster its foothold in the West, NFP announced the acquisition of Divergent Wealth Advisors, based in South Jordan, Utah. The strategic acquisition expands NFP’s offerings in wealth management and retirement planning. Divergent Wealth Advisors, an independent registered investment advisor, boasts over $675 million in assets...
Goldman Sachs is in advanced negotiations to divest its specialty lending unit, GreenSky, to a consortium of investment heavyweights, marking a significant pivot away from its brief foray into consumer lending. Leading this consortium are investment titans Sixth Street, Pacific Investment Management, and KKR. Insiders privy to the discussions told...
TUESDAY – DISCOUNT IPO PRICE SET Instacart, the leading US online grocery delivery company, is gearing up for an initial public offering (IPO) that could value the business at up to $9.3 billion. Pricing (22 million shares at between $26 and $28 is expected be set tomorrow, Goldman Sachs...
The Financial Industry Regulatory Authority Inc. is confronting a potential existential challenge in a federal appeals court in Washington, D.C. Judges presiding over the case have raised serious constitutional concerns regarding Finra’s authority to enforce securities regulations. To add to the pressure on Finra, William Barr, the former Attorney General under...
When Herman Melville wrote Moby Dick, he had never actually visited the quaint Massachusetts isle of Nantucket. His multivolume novel spanned an epic battle — and now another, maybe less epic battle is being waged on the island dubbed “the most expensive in the world.” This time, the protagonists...
Hedge fund manager Vivek Ramaswamy has been climbing the presidential polls, thanks in part to his corporate successes. Before his bid for the Republican nomination, where he’s now ranked third after Donald Trump and Ron DeSantis, Ramaswamy established and led a pharmaceutical venture, Roivant, which went public in 2021. He...