Manhattan federal prosecutors have charged three Chinese citizens with trading on information they hacked from top merger-advising law firms in New York. The three men allegedly targeted at least seven firms, and made more than $4 million buying shares of companies in deals that were underway, then selling the stock after the mergers were announced and the stocks jumped, according to an indictment unsealed this week. The men managed to steal the emails of lawyers working on mergers from at least two of the targeted firms. You can read more about the alleged hacking at The New York Times.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Massive earthquake sends tsunami across PacificHundreds of thousands of people in Japan and Hawaii were told to evacuate to higher ground
-
Ghislaine Maxwell offers testimony for immunitySpeed Read The convicted sex trafficker offered to testify to Congress about her relationship with late boyfriend Jeffrey Epstein
-
July 30 editorial cartoonsCartoons Wednesday’s political cartoons include a beast under the surface, new unemployment officers, and more
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
