SEC Says House Insider-Trading Probe Involves 44 Funds
By Patricia Hurtado July 17, 2014
A regulatory insider-trading probe involving the U.S. House Ways and Means Committee and a top staff member also includes 44 hedge funds and other entities, according to a U.S. Securities and Exchange Commission filing in Manhattan federal court.
In arguing against the House’s motion to dismiss the case or send it to federal court in Washington, the SEC said the geographic scope of its investigation is “much wider” than described by lawyers for House. The probe concerns some of the largest hedge funds and asset management advisers in the U.S., the SEC said.
The probe includes 25 funds and firms located in New York, the SEC said.
Story: The End of Preet Bharara's Perfect Record on Insider Trading
The SEC subpoenaed the House committee and the staff member, Brian Sutter, in a probe of whether non-public information was illegally passed about a change in U.S. health-care policy that resulted in a spike in share prices of health-insurance companies.
In court papers filed late yesterday the SEC argued the insider probe is being handled by its lawyers in New York and should remain there.
The case is SEC v. The Committee on Ways and Means of The U.S. House of Representatives and Brian Sutter. 14-mc-00193. U.S. District Court, Southern District of New York (Manhattan)
Howard, Naomi and William have been on the new weight loss drug, Belviq for about three months now and have lost a combined 73 pounds.
They say it's easy, hassle-free and effective.
"I feel wonderful. It's added years to my life," said Howard. "I recommend it to anybody," said Naomi. "I feel incredible," said William. "I have so much energy."
Doctor Steven Vig, who has an internal medicine practice in Tucson, says his patients taking the drug are thrilled.
"It really is kind of fun to prescribe this medicine," Vig said. "You really see it in the eyes of the patients when they are losing weight. They love to do it. And, they love to report back to me and tell me how well they are doing."
The Food and Drug Administration approved Belviq last year. But, manufacturers didn't put it on the market until June 11, 2013.
The drug is recommended for people who are obese. According to the Centers for Disease Control and Prevention, it's estimated that 36 percent of Americans are obese. That means your body mass index or BMI is more than 30.
"The drug is not a fat burner. It simply lowers your appetite, decreases your cravings for food," explained Vig.
While most diet drugs work as an appetite suppressant in your stomach, Belviq works as a suppressant in your brain.
"It is almost like a laser gun going to the appetite center of your brain," Vig said.
"The medication just kills the appetite. In fact, I have to force myself sometimes to eat something," said Howard.
Vig says he's only had a few patients reporting side effects. Some were tired.
But the biggest issue is the cost. A month's supply is about $215 to $250 depending on the pharmacy you use. The manufacturer offers a $75 discount card.
Our patients tell us with the money they save by eating less, they break even, although they will eventually need to buy smaller clothes.
"I had a patient in this morning, in fact, who had difficulty losing weight," said Vig. "She is now losing weight. Her clothes are looser, and she said, ‘Doctor, can I give you a hug?"
Weight Loss Results
At the three month mark, Howard has lost 31 pounds. He told us if he took his belt off, his pants would fall to the floor. He has a pile of clothes that are too big that he has to give to charity.
Naomi has lost 10 pounds. Her BMI is now below the obesity level of 30. She says she feels great every time she puts on clothes that haven't fit her in a while.
William has lost 32 pounds. He said, "Now I have the help I needed. It was so hard before because I had to overcome my cravings. Now, I don't have them."
All three are meeting or exceeding the expected results that were found in the clinical trials.
Starting next month, Dr. Vig will be going around the country to teach doctors about Belviq. He will be paid by the manufacturer. It will most likely be a couple of days a month. He will continue to have his practice in Tucson.
"In my mind, this is a very safe and effective drug. I think as word gets out about this, more and more physicians are going to be using it," he said.
Editor's note: Producer on Belviq, hormones and thyroid
Like so many people, I have tried diet after diet. I would lose a little, and then gain it back. I am 48 years old, and my weight has been going up for the past three years.
I finally, went to DeRosa Medical to have a thyroid and hormone panel done. My numbers were very low. I started taking thyroid medicine, hormones and vitamins B and D. Within a few weeks, I lost nine pounds without dieting.
That's when I thought my body was ready to start dieting. My metabolism was working and I had more energy. I went to the Scottsdale Weight Loss Center . I have been on Belviq for seven weeks. I've lost 22 pounds. My total weight loss is 31 pounds.
To learn more about hypothyroid symptoms and hormone replacement therapy , go to WedMD .
Copyright 2013 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
this whole sell off was a plan to cover, notice the biggest bashers were the street, the usual FUD spreaders.
Lief 's sale was pre planned, no bad news is coming.
same HFT program everyday, tenth of a penny and half penny spreads by corrupt MM. message board overloaded by penny an hour bashers. board totally spammed out this morning. All while the short interest declines
Abic is responsible for regulatory approval and, ultimately, marketing and distribution of BELVIQ in Israel, including related costs and expenses. We will manufacture finished drug product at our facility in Switzerland, which we will sell to Abic at a purchase price equal to a percentage of Abic's annual net sales of BELVIQ. In addition, we will receive an upfront payment, and are eligible to receive milestone payments upon regulatory submission and regulatory approval of BELVIQ as well as one-time purchase price adjustment payments based on Abic's annual net sales
i saw 3 Belviq commercials today on 3 different channels within 90 minutes
spencer rigbone said that there is no manipulation- he works for the criminals
short numbers go down and you reply with a lot of nothing, like all your posts. a lot of nothing, just like your existence