corporatecrime
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America’s Top Antitrust Cop Says Big Tech Looks a Lot Like Standard Oil
Jonathan Kanter, the Department of Justice’s top antitrust enforcer, says Big Tech’s cornucopia of questionable business practices looks an awful lot like the oil industry during Standard Oil’s reign. Once a symbol of unstoppable corporate power, the John Rockefeller-owned mega-monopoly was ultimately broken up into 34 separate companies in one of the strongest antitrust enforcement…
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FTC Admits Defeat in Antitrust Battle With Facebook
The Federal Trade Commission will not appeal the court ruling rejecting its attempt to block the acquisition of VR fitness company Within by Facebook and parent company Meta. The regulator’s decision marks a major win for Meta and draws renewed scrutiny on the agency’s capacity to successfully bring similar antitrust cases aimed at limiting Big…
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‘We’re F****** Robbing Idiots:’ Eight Financial Influencers Indicted in Massive Pump and Dump Scheme
If you have ever heard the words “this is not financial advice” or “this is not stock advice” when scrolling through TikTok or YouTube, you can be sure the next several minutes will be devoted to doing exactly that. Now federal law enforcement alleged that several financial influencers followed by hundreds of thousands of would-be…
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Wall Street Firms Pay Ridiculously Small Penalty for Failing to Preserve Texts
The Securities and Exchange Commission delivered the lightest of slaps on the wrist to 16 Wall Street financial firms on Tuesday after “widespread and longstanding failures” to preserve employee communications like texts and WhatsApp messages — a clear violation of recordkeeping provisions in the Securities Exchange Act of 1934.