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Pimco New York Municipal Income Fund III V.PYN


Primary Symbol: PYN

PIMCO New York Municipal Income Fund III (the Fund) is a non-diversified closed-end management investment company. The Fund's primary investment objective is to seek to provide current income exempt from federal and California income tax. Under normal circumstances, the Fund invests at least 90% of its net assets in municipal bonds which pay interest that is exempt from regular federal, New York State and New York City income. The Fund may invest up to 20% of its total assets in investments the interest from which is subject to the federal alternative minimum tax. The Fund also invests at least 80% of its net assets in municipal bonds that at the time of investment are investment grade quality. Pacific Investment Management Company LLC (PIMCO) serves as the Fund's investment manager.


NYSE:PYN - Post by User

Pimco New York Municipal Income Fund III
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Post by frenchy08on Jan 05, 2013 3:06pm
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Post# 20801840

Message for PYN

Message for PYN

x

5. Biotech insider trading case heats up with ex-SAC manager's pleas

 

  By Ryan McBride Comment | Forward | Twitter | Facebook | LinkedIn

The U.S. government's major case involving insider trading on biotech stocks continued to unfold this week, with a former portfolio manager from SAC Capital pleading not guilty to conspiracy and fraud charges.

As Bloomberg reports, Mathew Martoma faces as much as 25 years of jail time in the case, which alleges that he got insider info on a major Alzheimer's program for bapineuzumab that benefited his firm to the tune of $276 million. And U.S. prosecutors say they've got a pile of evidence to prove their case.

"There is an ongoing investigation into this and related matters," Assistant U.S. Attorney Arlo Devlin-Brown told the U.S. District judge on the case, as quoted by the news service. "It is entirely likely the government will receive new and additional documents."

The government has stepped up its efforts to crack down on insider trading in biotech, which presents all kinds of opportunities for people with inside knowledge on studies and R&D programs to break the rules.

- get more in the article

 

 

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