Daily Archives: May 28, 2010

John Gapper

Goldman Sachs‘ attempt to settle with the Securities and Exchange Commission in the Abacus case on a lesser charge than fraud, which I and Francesco Guerrera wrote about today, is a reminder of the peculiar way in which US civil securities cases are often resolved.

The standard settlement involves a defendant being fined by the SEC, and disciplined in individual cases, but “neither admitting nor denying” the allegations. The SEC thus gets a scalp and avoids a court case, while the defendant avoids a conviction. 

John Gapper

Comparing the blockbuster Wired magazine application for the Apple iPad to other magazines on the device is faintly silly given its far greater size and ambition. You can get an idea of it from the promotional video below.