Following a series of investigations launched by US, UK and Swiss regulators on claims that foreign exchange rates are being rigged, majority of the top banks had taken steps like allocating costs for future settlement and dismissing traders to curb the effects of the financial scandal.
Tech giants Apple Inc and Samsung Electronics Co are expected to provide a leaner list of patents both companies claimed to have been violated by each other. Information Week believes that it is most likely that the two companies will not come to an understanding after the March 31 hearing.
The 39-year-old Mathew Martoma is embroiled in what prosecutors have called the most lucrative insider trading episode in U.S. history. Martoma, who worked in SAC Capital Advisors' CR Intrinsic Investors division, is accused of using confidential information to trade stocks of the drug's developers, Elan Corp Plc and Wyeth, currently owned by Pfizer Inc.
Lloyds Banking Group Plc has joined some of the major banks who have suspended, fired or laid off its currency traders as the UK Financial Conduct Authority started its investigation on claims that foreign exchange currency manipulation had taken place.
