• Reuters

    US DOJ to target pre-IPO artificial intelligence frauds, top attorney says

    The U.S. Justice Department's top prosecutor in San Francisco is targeting artificial intelligence (AI) and other tech start-ups that defraud investors before they go public, he told Reuters. Ismail Ramsey, who became U.S. attorney for the Northern District of California a year ago, said his office is uniquely positioned to crack down on tech start-ups that mislead investors on the path to initial public offerings (IPOs) given his proximity to Silicon Valley venture and angel investors. High-profile examples of such frauds by start-ups include Theranos, whose founder Elizabeth Holmes and president Ramesh "Sunny" Balwani were convicted of deceiving Silicon Valley investors about the start-up's blood-testing technology, or uBiome Inc, a San Francisco start-up whose co-founders were charged with defrauding investors about its ability to expand clinical tests to monitor gut health.

  • Insider Monkey

    Should You Consider Buying MongoDB (MDB)?

    ClearBridge Investments, an investment management firm, released its fourth-quarter 2023 “ClearBridge Aggressive Growth Strategy” investor letter, which can be downloaded here. The strategy outperformed its Russell 3000 Growth Index benchmark for the quarter. It had delivered gains across seven of the eight sectors in which it was invested on an absolute basis. Overall stock selection contributed […]

  • Associated Press Finance

    Bill and Lisa Ford to raise $10M for Detroit youth nonprofit endowments

    Ten nonprofits serving young people in Detroit will get an unusual, lasting gift as part of a campaign started by Lisa Ford and her husband, Bill Ford, the executive chairman of Ford Motor Co. The Fords, along with The Children’s Foundation, Tuesday announced their plans to raise at least $10 million to set up permanent endowments for ten nonprofits in the city alongside Ford's investment in the refurbishment of Michigan Central Station, a long vacant train station in Detroit.