Word: gaffed
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...moments like this that put the high in high finance. Last week GAF announced that it was offering up to 20 million shares in its major subsidiary, International Specialty Products. The deal is as profitable as anything ever concocted in the Wayne, N.J., chemical maker's laboratories -- particularly for chairman Samuel Heyman. The stock he would control could now be worth at least a wallet-fattening $900 million -- more than 20 times what he paid to take GAF private...
...white- collar offenders on Wall Street to confess and plead guilty, but can the Feds convict anybody in a court trial? In attempting to try an important case stemming from the Ivan Boesky stock-fraud scandal, the Government is striking out. Last week the criminal stock-manipulation case against GAF and its vice chairman, James Sherman, ended in a second mistrial. After six weeks of testimony and more than 90 hours of deliberations, Federal Judge Mary Johnson Lowe decided the jury was hopelessly deadlocked...
...GAF case evolved from the testimony of Boesky, who fingered West Coast broker Boyd Jefferies. The Government alleges that GAF used Jefferies as a participant in a scheme to manipulate the price of shares in Union Carbide. Prosecutors claim that GAF, which held a large block of Carbide stock as the result of an unsuccessful bid to take over the company, tried to run up the price of the shares before selling them. After many days of technical presentations about stock trading, the jury may have become numbed by it all. Even so, federal prosecutors vowed to try the case...
James Sherwin, vice chairman of GAF, is a chess master who delights in plotting diversions to fool his opponents. Now Sherwin, 54, stands accused of < using such tactics to dupe investors. Last week a federal grand jury in Manhattan indicted Sherwin and GAF, a New Jersey-based chemical and building- products manufacturer, on criminal fraud and conspiracy charges for allegedly manipulating the price of Union Carbide stock. GAF and Sherwin are the latest target of investigations growing out of the Ivan Boesky insider- trading probe...
...crime allegedly occurred in late 1986, when GAF had built up a 10% stake in Union Carbide in a failed takeover bid. Sherwin allegedly persuaded Jeffries & Co., a Los Angeles brokerage, to buy Union Carbide stock to create the impression in the market that the issue was increasing in value. Later, after the price of the stock went up, GAF sold most of its Union Carbide shares for $115 million. GAF has denied any wrongdoing...