New Delhi, June 4 (IANS) Ola Consumer (formerly known as Ola Cabs) has suffered a sharp valuation cut after funds managed by US investment giant Vanguard Group reduced the fair value of its parent company — ANI Technologies — to just $70 million, as per multiple reports.Reports said that the markdown — based on the firm’s latest filing with the US Securities and Exchange Commission (SEC) — indicated a decline of nearly 99 per cent from the company’s peak valuation of $7.3 billion.The lates…
Latest US Securities and Exchange Commission News & Updates
New Delhi, May 5 (IANS) Billionaire entrepreneur Elon Musk has agreed to pay $1.5 million to settle a case with the US Securities and Exchange Commission (SEC) over delayed disclosure of his stake in Twitter (now known as X), according to multiple reports.The settlement which is subject to court approval, will be paid by the Elon Musk Revocable Trust, which the SEC added as a defendant in the case, the regulator said.The regulator has alleged that the trust failed to timely disclose beneficial o…
New York, April 8 (IANS) A US judge has granted a request from Billionaire industrialist Gautam Adani to schedule a hearing to dismiss a US Securities and Exchange Commission (SEC) case of alleged fraud. The plea states that the case represents an impermissible extraterritorial application of US law and that the SEC has failed to establish actionable claims under US securities laws.”The court has received Defendants’ letter requesting a pre-motion conference on their anticipated motion to dismis…
Kolkata, Jan 29 (IANS) The police arrested a man from South 24 Parganas district of West Bengal for his alleged involvement in a cyber fraud case where a resident was duped of Rs 3.35 crore under the pretext of high-yield stock market investments, the police said on Thursday.The accused, identified as Hasan Molla, was apprehended from the South 24 Parganas district following a detailed investigation by the Cyber Crime branch.The police said that the victim, Ashish Kumar Ghora, 56, a resident of …