03-04-2011, 08:42 AM
WORLDWIDE PRESS RELEASE FOR IMMEDIATE DISTRIBUTION
Attention News Desk, Assignment Desk - International Finance, Politics
This is a message from Anonymous concerning "Operation Want"
Washington, D.C. - On Friday, April 1, 2011, an Operations Department of Anonymous, has launched "Operation Want" by providing to the U.S. Securities & Exchange Commission detailed information on the corruption occuring within the NASDAQ OMX Group and their proposed changes to laws that specifically benefit Sweden's Elite Wallenberg Family
What is Operation Want?
Operation Want is an online think-tank of Anonymous researchers, writers and artists that are specifically interested in transparency of government and political relationships between Sweden and the U.S. concerning the case of Julian Assange and the coordinated smear campaign against WikiLeaks.
Anonymous is an online confederation of free speech, internet freedom and freedom of information activists. Our goal is absolute transparency of governmental and corporate activities for the benefit of the public of each nation they are in. We believe this case, while it may be obscure to the average citizen, actually will promote their welfare in the near and long term.
Operation Want began as a freelance investigation into the reasons and persons behind the international charges filed against WikiLeaks founder, Julian Assange. Why was an apparently fraudulent case that was dismissed and forgotten reopened? Why did Interpol become involved, rating him at their top red level? Why is the Swedish judiciary pursuing Assange with such ferocity? What interests are involved in this case? What is their motive? Through assessing all of the published Wikileaks cables from the Stockholm Embassy, we believe we can illuminate the machinations as to who has the means and motive.
NASDAQ OMX Group is valued at over $14 trillion. The makeup of the 15 member Board of Directors has lost their balance between industry, non-industry and public interest. For the past five years there has been a power struggle over control and a considerable amount of personal greed. Two of the wealthiest 1% are fighting for ultimate control at the expense of the public trust. The end-game of the struggle within NASDAQ OMX will result in a Swedish-based cartel, which will prevent majority voting abilities within the world's largest global financial trading body.
When corporate and personal self interests dominate, the public's welfare is disregarded, and they are left with picking up the bill. Peoples of the Western Nations are currently dealing with the ramifications of government bailouts of "too big to fail" banking and Wall Street institutions. Education, Health and Welfare programs, Public Worker benefits and pensions, and regulations protecting the food supply and the environment are cut. The middle class is continually being degraded via wage and benefit reductions, and fewer opportunities. Governments turn to austerity measures which only impact the working man and woman, leaving them less and less able to cope, leaving the elite classes insulated from the global economic reality. The risks of there being one more "too big to fail" financial institution, such as NASDAQ are astronomically incalculable.
Anonymous, through Operation Want has taken action, via legal representation, to oppose NASDAQ's proposal to change the laws that are in place, for the public's interests and that of transparency. We cannot stand by and do nothing while the Wallenberg-led "Cartel" is plotting to hijack the largest stockmarket in the world. It appears that Mr. Assange is but one more commidity to be traded by the Swedes.
This attached letter is a copy that has been submitted to the SEC, by legal counsel, on behalf of Anonymous Operation Want and supporting non-profit organizations that oppose the NASDAQ proposal to expand the size of the board to allow an additional Wallenberg company director to have a seat on the board. This comment letter is comprehensive and extensive.
We are Anonymous.
Anonymous is Everyone.
Anonymous is Everywhere.
We do not forget.
We do not forgive.
We are Legion.
Expect us.
April 1, 2011
Elizabeth M. Murphy, Secretary
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-1090
SUBJECT: Public Comments on File No. SR-SCCP-2011-001 or SR-BSECC-2011-001
Dear Secretary Murphy:
These Public Comments are being submitted on behalf of Anonymous Operation Want; an Anonymous affiliated online group think-tank of researchers, activists and hacktivists (Anons) against censorship, corporate and government corruption with specific interest in Sweden and the United States; World Citizens for Truth and Freedom, an unincorporated non-profit organization; and Prosperity Agenda, an organization of 35,0000 people seeking to create a democratized economy. These comments and information are also being submitted to protect the public trust and under whistleblower provisions.
These public comments oppose the proposal made by the NASDAQ OMX Group ("NASDAQ"), to change existing rules, regulations and laws to expand the number of seats on their Board of Directors from 15 seats to 16, in order to create a new seat for Investor AB. We request that the SEC deny the requested proposal. Members of the organizations submitting these comments, and public may be harmed by the NASDAQ requests if approved by the SEC, and implemented by NASDAQ.
Further, the organizations filing these Comments request that the SEC investigate and take appropriate enforcement action against certain board members of NASDAQ including Borje Ekholm, Lars Wedenborn, Birgitta Kantola, Urban Backstrom and Hans Munk Nielsen, as well as the companies that they represent among them, Investor AB, FAM, STORA ENSO, NORDEA INVEST and the Confederation of Swedish Enterprise. [Exhibits A-D]
NASDAQ OMX not only operates the NASDAQ stock market and seven European stock exchanges in the Nordic and Baltic areas, but the NASDAQ OMX Group technology supports the operations of over 60 exchanges, clearing organizations, and central securities depositories in more than 50 countries. The NASDAQ OMX Group (NASDAQ: NDAQ), the world's largest exchange company, represents a value of approximately $14.4 trillion. [Exhibit B] The addition of INVESTOR AB, with approximate ownership of 120 companies, will further concentrate economic power in the hands of the Sweden's Wallenberg family which is already over represented on the NASDAQ OMX board. [Exhibits A-D]
This expansion is not in the public interest, but in the interest of a single family. The Wallenberg's core companies, under INVESTOR AB, have been involved in violations of civil and criminal law [Exhibit A] as well as provided the SEC with incomplete information, about their holdings and board members, to understate their control of the NASDAQ. [Exhibit A-C] Further, the current board membership already violates NASDAQ rules in that the independent non-industry and public interest are under-represented.
Reasons for Opposition to Expansion of NASDAQ Board and the Need for SEC Investigation
1. The Board Expansion Fails to Protect the Public Interest and Further Concentrates Control of the NASDAQ in the Wallenberg Family
The NASDAQ OMX Group has had 15 board members since April 1, 1996, and performed their functions without the need for expanding the size of the board. Prior to that date, there were 10 board members. According to the Financial Industry Regulatory Authority press statement of April 1, 1995, the purpose for expanding the NASDAQ board in 1996 was:
". . . to increase public participation in the governance of Nasdaq, the Nasdaq Board is expanding the number of non-industry directors..." [Exhibit B ]
The request for expansion of NASDAQ OMX Group will not benefit the public interest, but only benefit the interest of the Wallenberg family through Investor AB which they control. The public interest is already undermined because the SEC has failed to make sure that at least one third (5) board members are "non-industry" representatives who would protect the public interest. [Exhibit B]
Investor AB does not qualify as a non-industry sector director, thus adding to the problem. The SEC should notify the Chairman and Board of NASDAQ that they need to bring the independent non-industry and public interest balance back to the makeup of the board and to do so without expanding the number of seats, rather than expanding the board. NASDAQ by-laws provide the procedures for the Chairman and board to use to remove board members if they do not resign. (NASDAQ By-laws, Article VII, Sec. 7.5) [Exhibit B]
The addition, Investor AB adds to the control of the Wallenberg family on the NASDAQ. Investor AB has shared interests with the NASDAQ board members that are representing FAM, STORA ENSO, NORDEA INVEST and the CONFEDERATION OF SWEDISH ENTERPRISE. Creating one more industry representative seat on the NASDAQ board, specifically for Wallenberg family interests and personal profit via Investor AB, could cause problems in a publicly perceived power grab or cartel by the Swedish elites. [Exhibits A, B, D]
The SEC should take note of the conflicts of interest in the current makeup of the NASDAQ board, with or without the inclusion of INVESTOR AB. Although NASDAQ by-laws require members with conflicts of interest to recuse themselves from voting, there appears to be no enforcement actions taken by the board or SEC. (NASDAQ By-laws Sec. 4.14 b). [Exhibit B]
When the majority of the board has self-interests and/or conflicts of interest, then it becomes highly unlikely, if not impossible to pass a vote with the majority of the board.
There is an important issue pending before the NASDAQ board, since March 2, 2010. NASDAQ OMX announced approval of a share repurchase program totaling up to 300 million outstanding common stock. This repurchase has not been completed. In the current request to expand the board, the consequences of the possible completion of this repurchase program for the board of directors have not been taken into account. However, it is very likely that an eventual completion would add further conflict of interest to the decisions of the board. [Exhibit C]
2. INVESTOR AB Filings to the SEC Contains False and Misleading Statements and Omissions, and Other Fraudulent Conduct
Between December 10, 2010 and March 10, 2011 several SEC files were submitted by or for INVESTOR AB and subsidiaries or business relationships all coming from the same address in Sweden. [Exhibit C] The SEC filing, with Attachments, dated March 10, 2011, and others, omitted relevant information including;
A. Who controls or owns Investor AB [Exhibit B]
B. Business affiliations and board relationships for the Investor AB board members [Exhibits A,B,D]
C. Transactions and exchanges of NASDAQ OMX Shares with companies that do not appear to be registered with the SEC and have not filed annual reports. [Exhibit B]
These omissions of relevant information appear to be a deliberate attempt to hide the fact that the Wallenberg family, their foundations and FAM are controlling owners of Investor AB. If accurate and truthful filings had been provided to the SEC and public it would have been obvious that the Wallenberg family has several companies, under their control, already on the NASDAQ board. Omissions of pertinent information is unlawful and a form of censorship that violates the public trust. Accurate information on the controlling ownership of the companies on the Board of the NASDAQ show that the largest stock exchange in the world is partially owned by an investment company belonging to a private family fund whose core investments are all listed on that stock exchange and who are represented by about one-quarter of the directors of the stock exchange. [Exhibits A, B, D]
3. The NASDAQ Has Been Engaged in Unfair Dealing and Inconsistent in the Value of a Board Member Seat
The NASDAQ is inconsistent in their valuation of board seats. A previous agreement entered into with "BORSE DUBAI," owned by the Dubai Government and Ruler of Dubai, set the value of a board seat and committee seat stating: the "Beneficial Owner" must own at least 50 million Shares to have two (2) appointed board members and one (1) committee member. If the number of Shares held should fall below 50 million, but not less than 25 million, then they can have only one (1) board member. Upon examination of the historic board makeup of NASDAQ, it appears that BORSE DUBAI did not exercise their ability to have two board members at the same time. Rather, they had just one that was the Chairman of BORSE DUBAI. Why they did not exercise the option is unknown. Perhaps, no other NASDAQ board members were willing to resign their seat? As of December 10, 2010, BORSE Dubai no longer owns 50 million shares required to have two board members seats. [Exhibit A -C]
If the expansion goes forward to add Investor AB, the SEC will grant the Wallenberg family to control three seats, or more, on the NASDAQ board for their companies -- FAM, FAM's Stora Enso, and the Wallenberg Family Foundations "Investor AB," that is also under FAM [Exhibit B] -- this action would appear to be biased and an unfair dealing. In addition to the overlapping or circular businesses under the control of the Wallenberg's, the SEC must also investigate the true nature of all of the board relations between Borje Ekholm, Lars Wedenborn and Birgitta Kantola [Exhibit B - D], including FAM's holdings and Investor AB's "Core" businesses that are belonging to the Wallenberg family [Exhibit B].
Therefore, it could be reasonably argued that in order for fairness and consistency between NASDAQ shareholders that all "Beneficial Owners" that want two board seats and a committee seat must also own at least 50 million shares. If they want three seats then they would need at least 75 million shares. Jointly, the Wallenberg's Investor AB & FAM total less than 20 million Shares. [Exhibits A, D]
Regardless, the NASDAQ OMX Group must have a Board of Directors that is balanced between Industry and Non-Industry members, without the Industry members creating a cartel to block voting and act on the behalf of one family or country. All financial corporations in the United States must be accountable to the public and investors. The public must not be expected to bail out financial institutions or markets, with valued interests of over $14 Trillion, due to mismanagement, self-interest and personal greed.
4. The Violation of Law by Wallenberg Family Controlled Corporations Makes Their Representation on NASDAQ Inappropriate and Against the Public Interest
Family Assets Management (FAM) handles the financial assets of the Wallenberg's and their twenty (20) Wallenberg Family Foundations. This includes some of the private and publicly held companies that are controlled by the Wallenberg's through majority shares and voting. One example of a company controlled by the Wallenberg's through FAM is STORA ENZO. Another example is that Investor AB is controlled through the three largest of their foundations and in turn under FAM. [Exhibit B]
Investor AB then has approximately 120 private and public companies with many that are owned or controlled by the Wallenberg's. Investor AB was created by the Wallenberg's around 1916, due to new Swedish legislation. Their banks, Skandinaviska Enskilda Banken AB and SEB AG, became "Core" businesses still under the control of the Wallenberg's. Other "Core" businesses under FAM, Investor AB and Wallenberg control are ABB Ltd aka ASEA Brown Boveri, AstraZeneca, Atlas Copco, Ericsson, Electra, Swedish Air Service (SAS), SAAB Group, Husqvarna, Grand Hotels, Mölnlycke Health Care AB, INCENTIVE, Duba AB, Investor Trading, Investor Holding, Patricia AB, Patricia Trading, Patricia Holding and others. [Exhibit B, C]
To completely understand how current and proposed Board Members of the NASDAQ are connected to known federal crimes and current litigation the SEC and DoJ need to understand the business and board relationships [Exhibit A-D]. Since SEC filings have omitted significant information, it is difficult to understand these connections without a complete and independent investigation. But, we do know of some violations of law by Board members and proposed Board members.
A. Investor AB Controls Companies that Have Been Found Guilty of Federal Crimes including, Fraud, Bribery, Anti-Trust and are Under Present Court Proceedings for Allegations of Bank Misappropriations of Clients Investments Involving Hedge Funds. [Exhibit A]
i. ABB agreed to pay $39 million in penalties for bribery schemes in Mexico and the Iraq and $19 million in criminal penalties.
In a September 29, 2010 SEC press release concerning litigation with ABB the SEC states "it filed a settled civil action against ABB Ltd ("ABB") in the United States District Court for the District of Columbia, charging the company with violations of the Foreign Corrupt Practices Act. ABB … through its subsidiaries, paid bribes to government officials in Mexico to obtain business with government owned power companies, and paid kickbacks to the former regime in Iraq to obtain contracts under the United Nations Oil for Food Program… ABB's subsidiaries made at least $2.7 million in illicit payments in these schemes to obtain contracts that generated more than $100 million in revenues for ABB…"
To settle these civil violations of law the SEC ordered ABB to pay $22,804,262 in disgorgement and prejudgment interest, orders the company to pay a $16,510,000 civil penalty. Further in related criminal proceedings, ABB settled the prosecution with the U.S. Department of Justice with ABB agreeing to pay $19 million in criminal penalties. [Exhibit A]
The ABB 2010 annual report describes these events:
"In connection with these settlements, we agreed to make payments to the DoJ and SEC totaling $58 million, which were settled in the fourth quarter of 2010. One subsidiary of ABB pled guilty to one count of conspiracy to violate the anti-bribery provisions of the U.S. Foreign Corrupt Practices Act and one count of violating those provisions. ABB entered into a deferred prosecution agreement and settled civil charges brought by the SEC. These settlements resolved the foregoing investigations." [Exhibit A]
ii. The European Commission Has Conducted Raids on the Premises of ABB in Sweden as Part of an Investigation into Anti-Competitive Activities and Fined ABB $49 Million
The annual report of ABB describes an investigation into violations of anti-trust laws by ABB. They report states "In January 2010, the European Commission conducted raids at the premises of ABB's flexible alternating current transmission systems (FACTS) business in Sweden as part of its investigation into alleged anti-competitive practices of certain FACTS manufacturers. In the United States, the Department of Justice (DoJ) also conducted an investigation into this business. We have been informed that the European Commission and the DoJ have closed their investigations…" [Exhibit A]
The European Commission fined ABB euro 33.75 million (equivalent to $49 million on date of payment) regarding anti-competitive practices in violation of Anti-Trust law. The German Antitrust Authority (Bundeskartellamt) and other antitrust authorities are also reviewing those alleged practices which relate to the German market and other markets. [Exhibit A]
iii. Employees of ABB's Gas Insulated Swithgear Business Have Engaged in Anti-Competitive Practices in Violation of European Anti-Trust Laws
In their Annual Report filed with the SEC, ABB reports: "In May 2004, we announced that we had undertaken an internal investigation which uncovered that certain of our employees together with employees of other companies active in the Gas Insulated Switchgear business were involved in anti-competitive practices. We reported such practices upon identification to the appropriate antitrust authorities, including the European Commission. The European Commission announced its decision in January 2007 and granted ABB full immunity from fines assessed to ABB of euro 215 million under the European Commission's leniency program. We continue to cooperate with other antitrust authorities in several locations globally, including Brazil, which are investigating anti-competitive practices related to Gas Insulated Switchgear. At this stage of the proceedings, no reliable estimate of the amount of potential fines, if any, can be made." [Exhibit A]
iv. Wallenberg Family Controlled, AstraZeneca Has Paid Fines of $520 Million for Off-Label Drug Marketing; and for Another Drug Paid $355 Million to Settle Criminal and Civil Liabilities For Illegal Drug Pricing and Marketing Practices
On April 27, 2010 the Department of Justice issued a press release which stated:
"Pharmaceutical Giant AstraZeneca to Pay $520 Million for Off-label Drug Marketing."
This was to "resolve allegations that AstraZeneca illegally marketed the anti-psychotic drug Seroquel for uses not approved as safe and effective by the Food and Drug Administration." The company signed a civil settlement and agreed to pay the federal government $301,907,007 from the civil settlement, and the state Medicaid programs and the District of Columbia will share up to $218,092,993 of the civil settlement.
The United States also contended that "AstraZeneca violated the federal Anti-Kickback Statute by offering and paying illegal remuneration to doctors it recruited to serve as authors of articles written by AstraZeneca and its agents about the unapproved uses of Seroquel." These are serious violations of law that put the health of Americans at risk, as Attorney General Eric Holder said: "Illegal acts by pharmaceutical companies and false claims against Medicare and Medicaid can put the public health at risk, corrupt medical decisions by health care providers, and take billions of dollars directly out of taxpayers' pockets." [Exhibit A]
On June 20, 2003 the Department of Justice announced that AstraZeneca pleaded guilty to health care crimes and agreed to pay $355 million to settle the charges. The Department of Justice said that "to resolve criminal charges and civil liabilities in connection with its drug pricing and marketing practices with regard to Zoladex, a drug sold by AstraZeneca Pharmaceuticals LP and used primarily for the treatment of prostate cancer… AstraZeneca pleaded guilty to conspiring to violate the Prescription Drug Marketing Act ("PDMA") by causing to be submitted claims for payment for the prescription of Zoladex which had been provided as free samples to urologists. This criminal conduct caused losses of $39,920,098 to Medicare, Medicaid and other federally funded insurance programs.
As part of the plea agreement, AstraZeneca agreed to pay a $63,872,156 criminal fine. Further, "AstraZeneca agreed to settle its federal civil False Claim Act liabilities and to pay the U.S. government $266,127,844 to resolve allegations that the company caused false and fraudulent claims to be filed with the Medicare, TriCare, Department of Defense and Railroad Retirement Board Medicare programs as a result of AstraZeneca's fraudulent drug pricing schemes and sales and marketing misconduct…" [Exhibit A]
v. Wallenberg Controlled Bank Faces Litigation By Hedge Fund Seeking €200m
Skandinaviska Enskilda Banken, a bank controlled by the Wallenberg family, faces action from Euroption, a British Virgin Islands-based hedge fund with offices in London, England. The Swedish investment bank is being sued for about €200 million the hedge fund that claims the bank slashed the value of its portfolio by failing to close out its investment positions properly after the bank seized control of its portfolio at the height of the credit crunch. The hedge fund argues that delays in exiting its option positions, which included bets on the FTSE, fuelled the collapse in the value of its portfolio from €74 million to under €2 million in less than ten days. [Exhibit A]
5. APPEARANCE OF INSIDER INFORMATION & TRADING
How Investor AB acquired millions of shares of NASDAQ OMX is highly questionable and should reflect on whether INVESTOR AB should hold a seat on the NASDAQ board. Especially, when considering the history between the Government and Ruler of Dubai (BORSE DUBAI) and the Wallenberg's of Sweden (INVESTOR AB). It appears that Wallenberg and the Ruler of Dubai had some sort of agreement that was not divulged to the SEC and the public or maybe not even to other Board Members and Shareholders of NASDAQ OMX. It appears that the Wallenberg's knew in advance they would be getting shares from BORSE DUBAI and with NOMURA to be the mediator or go between. According to the BORSE DUBAI news release, NOMURA agreed to only provide the Shares to INVESTOR [Exhibits B, C].
The Wallenberg's have controlling ownership of INVESTOR AB, FAM and Stora Enso.
They also have access to insider information through several NASDAQ OMX GROUP board members, including, but not limited to, Lars Wedenborn of FAM, Birgitta Kantola and Urban Bäckström. Wallenberg's and Glenn Hutchins appear to have known in advance, before the public, that BORSE DUBAI was going to release millions of NASDAQ Shares and the price per Share, amounting to 50% less than the 2008 cost, a significant devaluation. Agreements and contracts had to have been made in advance, of the December 16, 2010 date, to arrange for Nomura to assist with the share transaction. [Exhibits C]
The SEC must investigate the manner and method in which INVESTOR AB and their trading companies - Duba, Investor Trading, Patricia and Patricia Trading, came to have been informed that BORSE DUBAI was going to release such a significant amount of Shares on December 16, 2010, and make arrangement to have NOMURA in position with an contractual agreement between them that would specifically benefit the Wallenberg's (INVESTOR AB). [Exhibit C]
Additionally, the SEC must investigate the agreement between the Wallenberg's (INVESTOR AB) and NASDAQ OMX GROUP board member, Glenn Hutchins and SILVER LAKE PARTNERS. Glenn Hutchins business and board history triangulate with the Wallenberg's through BlackRock that was financed by Blackstone [Exhibit D], and that BlackRock, along with Investor AB, are the major Shareholders of the criminal corporations, ABB and AstraZeneca. [Exhibits A-D].
It appears that Glenn Hutchins and SILVER LAKE PARTNERS acquired Shares specifically to provide to Wallenberg's INVESTOR AB and/or their trading or holding companies - Duba, Investor Trading, Patricia AB, Patricia Trading, and Patricia Holding. [Exhibit C]
World Citizens for Truth and Freedom, Operation Want and Prosperity Agenda oppose the expansion of the NASDAQ OMX Board and specifically opposes the addition of ABB to the Board of Directors. The Board is dominated by the personal interests of Board members rather than the public interest. This problem will be made worse by the addition of INVESTOR AB. The Board Chairman should be directed to correct the imbalance on the Board rather than expanding the Board.
Further, the history of ABB and other Wallenberg family controlled corporations includes unethical and illegal practices that make it inappropriate for Board membership. Finally, we request the SEC to investigate the practices of specific members of the Board as described in these Public Comments, taking the enforcement and legal actions as needed.
Sincerely,
Kevin B. Zeese, Esq.
On Behalf of Anonymous Operation Want, World Citizens for Truth and Freedom, and Prosperity Agenda
Exhibits
EXHIBIT A: Current Beneficial Owners of the NASDAQ OMX Group, and Criminal Findings, Investigations & Proceedings
EXHIBIT B: Identities and Background
EXHIBIT C: History and Time Line
EXHIBIT D:Identification of NASDAQ OMX Group's Board Members, CV's and Shares
EXHIBIT A
Current Beneficial Owners of the NASDAQ OMX Group
As of March 11, 2011, there are three (3) "Beneficial Owners" with 10% or more ownership of NASDAQ OMX Shares, including;
1. "BORSE DUBAI" http://www.borsedubai.com/media43.html
(INVESTMENT CORPORATION OF DUBAI (ICD) or Dubai Government http://www.icd.gov.ae/ ("Ruler of Dubai") http://www.icd.gov.ae/icd_and_dubai.html with 47,440,882 Shares. http://ir.nasdaq.com/ownership.cfm
2. "INVESTOR AB" (PATRICIA HOLDING AB) http://ir.nasdaq.com/secfiling.cfm?filin...9-11-13570 and http://ir.nasdaq.com/secfiling.cfm?filin...9-11-13621 or FAM or Wallenberg Family Foundations http://www.fam.se/tillgangar/default.aspx or Wallenberg Family of Sweden http://www.ft.com/cms/s/0/f52cf9a2-4029-...abdc0.html and http://www.investorab.com/en/AboutInvestor/default.htm ("WALLENBERG")) with18,004,142 Shares. http://ir.nasdaq.com/ownership.cfm
3. "SILVER LAKE PARTNERS" (Glenn Hutchins, co-founder) with 730,250 Shares. http://ir.nasdaq.com/ownership.cfm
Business Relations are http://investing.businessweek.com/busine...=Thisbe+AB
Board Relations are http://investing.businessweek.com/busine...whoever%2F
CRIMINAL FINDINGS, INVESTIGATIONS & CURRENT PROCEDINGS
ABB aka Asea Brown Boveri
September 29, 2010, Litigation Release No. 21673. http://www.sec.gov/litigation/litrelease...r21673.htm.
ABB Annual Report published on March 17, 2010 pgs 99-104 for crimes etc. http://www02.abb.com/global/abbzh/abbzh2...rm+20F.PDF
US Department of Justice - Listing on various investigations and prosecutions of criminal activities byABB http://searchjustice.usdoj.gov/search?q=...collection
ABB Board of Directors http://www.abb.com/cawp/abbzh252/68c4c47...7fe78.aspx
ASTRAZENECA
April 27, 2010: "Pharmaceutical Giant AstraZeneca to Pay $520 Million for Off-label Drug Marketing" http://www.justice.gov/opa/pr/2010/April...v-487.html
June 3, 2003 http://www.justice.gov/opa/pr/2003/June/03_civ_371.htm.
2010 Annual Report http://www.astrazeneca-annualreports.com...single.pdf
SEB bank
November 18, 2010 "Hedge fund demands €200m from Wallenberg bank," , http://www.stewartslaw.com/hedge-fund-de...-bank.aspx.
EXHIBIT B
Identities and Background
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the largest electronic screen-based equity securities trading market in the United States and second-largest by market capitalization in the world. It was founded in 1971 by the National Association of Securities Dealers (NASD), who divested themselves of it in a series of sales in 2000 and 2001. It is presently owned and operated by the NASDAQ OMX Group, the stock of which was listed on its own stock exchange beginning July 2, 2002, under the ticker symbol NASDAQ: NDAQ. It is regulated by the Financial Industry Regulatory Authority (FINRA). As of January 13, 2011, there are 2,872 listings.The NASDAQ has more trading volume than any other electronic stock exchange in the world. The group, now known as NASDAQ-OMX,controls and operates the NASDAQ stock exchange in New York City the second largest exchange in the United States. It also operates eight stock exchanges in Europe and holds one-third of the Dubai Stock Exchange. It has a double-listing agreement with OMX, and will compete with NYSE Euronext group in attracting new listings…" http://en.wikipedia.org/wiki/NASDAQ http://www.marketswiki.com/mwiki/NASDAQ_OMX_Group,_Inc.
"The NASDAQ OMX Group (NASDAQ: NDAQ), the world's largest exchange company that represents a value of approximately $14.4 trillion " http://www.faqs.org/sec-filings/100218/N...-INC_10-K/ The NASDAQ OMX GROUP Inc. is a Delaware corporation. The principal executive offices of the Issuer are located at One Liberty Plaza, New York, New York 10006. http://www.sec.gov/Archives/edgar/data/8...1sc13d.htm The
NASDAQ OMX Group, Inc. is a holding company created by the business combination of The Nasdaq Stock Market, Inc. and OMX AB (publ) which was completed on February 27, 2008.SEC Form 10-K Annual Report http://www.faqs.org/sec-filings/100218/N...z1HxGxMds9
http://www.borsedubai.ae/offer_documents...eement.pdf
The NASDAQ, including subsidiaries, board members and directors are regulated and must comply with specific rules and regulations to uphold the public trust and that of the investors. The FISA, SEC and DoJ are US Government agencies and departments that are responsible for investigations and enforcement of the rules, regulations and other laws effecting NASDAQ. http://www.sec.gov/about/offices/oia/oia...wenfor.pdf
In 1996 the NASDAQ board size and make up was specific
http://www.finra.org/Newsroom/NewsReleases/1996/P010557
NASDAQ OMX Group By-laws http://www.faqs.org/sec-filings/100422/N...z1HwqLue5N
INVESTOR AB is "a Nordic-based industrial holding company founded almost one hundred years ago by the Wallenberg family." http://www.investorab.com/en/AboutInvestor/default.htm
The company is "primarily engaged in a business other than that of investing, reinvesting, owning, holding,or trading in securities. Investor AB is a Swedish diversified industrial holding company. (Rel. IC-21477: International Series Rel. 880 - November 7) Per SEC declaration and order under section 3(b)(2) of the Investment Company Act" November 9, 1995, SEC News Digest, Issue 95-217, Investment Company Act Releases. http://www.sec.gov/news/digest/1995/dig110995.pdf Jacob Wallenberg is the Chairman of INVESTOR AB and Borje Ekholm is the CEO. The Board of Directors can be viewed on the INVESTOR AB website. http://www.investorab.com/en/AboutInvest...efault.htm
Borje Ekholm business relations http://investing.businessweek.com/busine...O+AB-A+SHS
Ekholm board relations -http://investing.businessweek.com/busine...nId=109812
Identification of other board members of INVESTOR AB are found at http://www.investorab.com/en/AboutInvest...efault.htm
INVESTOR TRADING AB is 100% owned and controlled by Duba AB. Investor Trading AB held the NASDAQ OMX Shares reported in the Schedule 13D. Investor AB Trading is engaged principally in the business of making investments in securities. (see "Item 2 Identity and Background" http://www.sec.gov/Archives/edgar/data/8...1sc13d.htm
· DUBA AB is 100% owned and controlled by Investor AB. Duba AB is engaged principally in the business of making investments in securities. (see "Item 2 Identity and Background" http://www.sec.gov/Archives/edgar/data/8...1sc13d.htm }
· PATRICIA HOLDING AB is 100% owned and controlled by Investor AB. Prior to March 7, 2011, such Shares were held by Investor Trading AB, which is 100% owned and controlled by Duba AB, which is 100% owned and controlled by Investor AB. http://ir.nasdaq.com/secfiling.cfm?filin...9-11-13570
Filed Mar 10, 2011. Form SC 13D/A. Amended General Statement of Beneficial Ownership. http://ir.nasdaq.com/secfiling.cfm?filin...9-11-13621
· PATRICIA AB is "a Swedish securities trading firm owned jointly by the two investment companies Investor and Providentia..." and "a major active stockholder in STORA " (Sept 9, 1990) http://ir.investorab.com/files/press/inv...000-en.pdf In 1990, AB Patricia is jointly owned by AB Investor and Forvaltnings Providentia has acquired...holding in Incentive AB. Patricia, together with Investor and Providentia then hold 48.2% of Incentives capital stock and 59.6% of the voting rights. Investor, Providentia and Patricia have accepted the Share alternative of ASEA's public offer to the shareholders of Incentive. [ ] http://ir.investorab.com/files/press/inv...000-en.pdf
http://www.sec.gov/Archives/edgar/data/8...1sc13d.htm
· FAM is a Wallenberg Family business called "Financial ASSET Management."
The Wallenberg's have a second FAM business that is "Financial ADMINISTRATION Management." Both FAM businesses are wholly owned by Sweden's Wallenberg Family. Foundation Asset Management manages the assets and donations of the three largest foundations, including The Knut and Alice Wallenberg Foundation, by means of direct ownership and management and consultancy agreements. http://www.fam.se/in-english.aspx The three Wallenberg Foundations own INVESTOR AB, in addition to other family owned and controlled companies. http://www.fam.se/tillgangar/default.aspx
Financial ASSET Management (FAM) is represented on the NASDAQ OMX Group's board of directors by Lars Wedenborn, the CEO of FAM and former VP & CEO of the Wallenberg's "INVESTOR AB" (2000-2007). Mr. Wedenborn also serves on the board of other Wallenberg owned companies, including Thisbe AB, SKF and The Grand Hotel. He is also, the current Chairman of the Board of the NASDAQ OMX Nordic Ltd.
Lars Wedenborn business relations -http://investing.businessweek.com/busine...A+ENSO+OYJ-R%20SHS
Lars Wedenborn board relations -http://investing.businessweek.com/busine...nId=109818
· The Knut and Alice Wallenberg Foundation is the largest owner of Investor. The foundation holds 40,0 percent of the votes and 18,6 percent of the share capital. The three largest Wallenberg foundations combined own 22.3 percent of the share capital and 48.0 percent of the voting rights. Following foundations are included: Knut and Alice Wallenbergs Foundation, Marianne and Marcus Wallenberg Foundation and Marcus and Amalia Wallenbergs Memorial Fund. However, other Wallenberg owned/controlled companies and individual family members also own Investor AB Shares that ensure Wallenberg family control.
Owners: http://www.investorab.se/en/Investors_me...efault.htm
Insiders: http://www.investorab.se/en/Investors_me...siders.htm
Peter Wallenberg Jr: http://www.investorab.se/en/Investors_me...siders.htm
http://www.wallenberg.com/kaw/styrelse/default.aspx
Jacob Wallenberg: (also Chairman of Investor AB, Director of ABB and others) http://www.investorab.se/en/Investors_me...siders.htm
http://www.wallenberg.com/kaw/styrelse/default.aspx
Marcus Wallenberg: http://www.investorab.se/en/Investors_me...siders.htm
http://www.wallenberg.com/kaw/styrelse/default.aspx
Michael Trenschow: (Board Member of KAW Foundation,Director of ABB and others)
http://www.wallenberg.com/kaw/styrelse/default.aspx
· THE WALLENBERG FAMILY of SWEDEN & BUSINESS RELATIONS ON THE NASDAQ OMX BOARD OF DIRECTORS
Besides their direct influence on the NASDAQ OMX Group decisions and actions,through Lars Wedenborn (FAM) and Borje Ekholm (Investor AB), the Wallenberg's have other connections and influences with various NASDAQ OMX board members and Share holders. Birgitta Kantola (Stora Enzo and SEB) on the NASDAQ OMX board is also influenced by the Wallenberg's through their Family Asset Management (FAM), that is the primary shareholder and owner of Stora Enzo. In 2001, the Wallenberg's swaped various company shares betweed Investor AB and the Wallenberg Foundations.
http://www.investorab.com/en/AboutInvest...4_2004.htm
In addition, to Lars Wedenborn, Borje Ekholm and Birgitta Kantola, it appears that Urban Backstrom is also within the Wallenberg sphere of influence or possible cartel? UrbanBackstrom use to be the chairman of ScandiaLiv. Presently, he is the chairman of the "Confederation of Swedish Enterprise" ("Confederation") that includes the majority of the board members of Investor AB. The Confederation also works for or with the Wallenberg's in many of their EU related meetings and lobbying efforts worldwide with business and political representatives, according to the Confederation reports, found on their website.
Definition of "Cartel."
1. A combination of independent business organizations formed to regulate production, pricing, and marketing of goods by the members.
2. A group of parties, factions, or nations united in a common cause; a bloc. http://www.thefreedictionary.com/cartel and A group of businesses or nations that act together as a single producer to obtain market control and to influence prices in their favor by limiting production of a product. The United States has laws prohibiting cartels. http://financial-dictionary.thefreedicti...com/cartel )
Jacob Wallenberg business relations-http://investing.businessweek.com/busine...IGROUP+INC
Jacob Wallenberg board relations- http://investing.businessweek.com/busine...nId=758113
Jacob Wallenberg board relations:
On the ABB board of directors:
http://www.abb.com/cawp/abbzh252/68c4c47...7fe78.aspx
Wallenberg and Hans Munk Nielsen
On the Swedish Swiss Chamber of Commerce (SSCC) board: http://www.swecham.ch/web/page.aspx?refId=44
Peter Wallenberg Sr business relations - http://investing.businessweek.com/busine...=Thisbe+AB
Peter Wallenberg Sr board relations- http://investing.businessweek.com/busine...nId=751719
Marcus Wallenberg business relations - http://investing.businessweek.com/busine...ROUP%2FTHE
Marcus Wallenberg board relations - http://investing.businessweek.com/busine...nId=109810
Peter Wallenberg Jr business relations - http://investing.businessweek.com/busine...+OYJ-R+SHS
Peter Wallenberg Jr board relations -http://investing.businessweek.com/busine...d=21875496
Business Relations on the board of the NASDAQ OMX GROUP
Lars Wedenborn business relations - http://investing.businessweek.com/busine...+OYJ-R+SHS
Lars Wedenborn board relations - http://investing.businessweek.com/busine...nId=109818
Borje Ekholm business relations - http://investing.businessweek.com/busine...O+AB-A+SHS
Borje Ekholm board relations - http://investing.businessweek.com/busine...nId=109812
"INVESTOR AB. An order has been issued under Section 2(a) (9) of the Investment Company Act declaring that Investor AB controls Astra, STORA ENSO, and Atlas Copco. (ReI. IC-19056; International Series ReI. 478 - October 27) http://www.sec.gov/news/digest/1992/dig102992.pdf
Birgitta Kantola business relations - http://investing.businessweek.com/busine...Id=8267760
Birgitta Kantola board relations - http://investing.businessweek.com/busine...=Thisbe+AB
Gunnar Brock, a board member of Investor AB, has been the Chairman of Stora Enso, since 2010, http://www.storaenso.com/investors/gover...mbers.aspx It appears that INVESTOR AB failed to include this important business relationship when the recent SEC file was made on March 7, 2011. Why did INVESTOR AB and their soley owned company, Patricia Holding, leave out this pertient information about Gunnar Brock? http://ir.nasdaq.com/secfiling.cfm?filin...59-11-2621 Could it be because of the Stora Enso has a board member, Birgitta Kantola, on the NASDAQ OMX Group board of directors? http://www.sec.gov/Archives/edgar/data/8...sc13da.htm
Urban Bäckström business relations - http://investing.businessweek.com/busine...=Thisbe+AB
Urban Bäckström board relations - http://investing.businessweek.com/busine...Id=7529859
In addition, Urban Backstrom has business and board relations through his position with The Confederation for Swedish Enterprise
http://www.svensktnaringsliv.se/multimedia/archive/00020/CV_Urban_B_ckstr_m_i_20885a.pdfhttp://www.svensktnaringsliv.se/om_oss/ledamoter/Enterprise.http://www.svensktnaringsliv.se/multimedia/archive/00020/CV_Urban_B_ckstr_m_i_20885a.pdf and example of business relations http://www.svensktnaringsliv.se/multimed...19341a.pdf and http://www.svensktnaringsliv.se/english/...83645.html
http://www.svensktnaringsliv.se/fragor/k...93339.html
BORSE DUBAI is majority owned by Investment Corporation of Dubai.
http://www.borsedubai.com/media43.html
Borse Dubai is a holding company established in August 2007 to expand Dubai's position as a global capital markets hub. http://www.borsedubai.com/media43.html
Borse Dubai owns a majority stake in Dubai Financial Market (DFM). It also holds a stake of approximately 20% in the London Stock Exchange and a one third stake in NASDAQ Dubai, with DFM holding the other two thirds. http://www.borsedubai.com/media43.html Borse Dubai is also the holding company of the Dubai Financial Market (DFM). http://www.nasdaqdubai.com/investors/f_a_q.html Borse Dubai is the majority shareholder of NASDAQ Dubai, with a two thirds stake. NASDAQ OMX owns one-third of the shares. http://www.nasdaqdubai.com/investors/f_a_q.html
· INVESTMENT CORPORATION OF DUBAI (ICD) is the investment arm of The Government of Dubai. http://www.icd.gov.ae/ Chairman is His Highness Sheikh Mohammed bin Rashid Al Maktoum,
The Ruler of Dubai. http://www.icd.gov.ae/icd_and_dubai.html
· NOMURA INTERNATIONAL Plc (NOMURA) is The Nomura Group (NOMURA), formerly Nomura zaibatsu, is a company headquartered in Chuo, Tokyo. Currently, NORUMA has offices worldwide, including major offices at the World Financial Center in New York City, at the International Finance Centre in Hong Kong, and at Nomura House in London.
Nomura is one of the major industrial and financial conglomerate groupings of Japan. Osaka Nomura bank was founded by Tokushichi Nomura II in 1919 after many successful business ventures and established on the Mitsui zaibatsu model. The group is involved in numerous industries, from oil and gas to construction, chemicals and foodstuffs, as well as what it is known for internationally, as a financial powerhouse.
Group member Nomura Securities, Japan's most well-known stock brokerage firm, is an internationally known conglomerate of financial services and consulting, along with Nomura Research Institute. Nomura's Securities company gained the authority to trade stock in 1938, and went public in 1961. It also has a number of international offices of its own. More recently, Nomura Securities took over the European and Asian operations of bankrupt Lehman Brothers. They increased their U.S. workforce and hired former Goldman Sachs Group Inc. currency strategist Jens Nordvig, 35.
Nomura Holdings, Inc. is the holding company of the Nomura Group. As a keiretsu, it does not directly run member companies, rather it keeps cross shareholdings and manages financial assistance among member companies which help to deflect hostile takeovers.
December 2010, NOMURA was the go between for a transaction between BORSE DUBAI and the Wallenberg's INVESTOR AB in an agreement to provide a specified number of NASDAQ OMX Shares at a certain cost. http://www.borsedubai.com/media43.html
http://www.nomura.com/
http://en.wikipedia.org/wiki/Nomura_Securities_Co
http://www.google.com/finance?q=NYSE%3ANMR
http://www.bloomberg.com/apps/news?pid=n...Y5f6XsWveE
March 8, 2011 Nomura Holdings, Inc. today announced a series of top management appointments to further strengthen its global leadership team.
"Benoit Savoret will join Nomura with immediate effect as Joint Head of Global Equities, reporting to Tarun. Benoit has more than two decades of industry experience and spent 11 years at Lehman Brothers, where he served as Chief Operating Officer in EMEA, Head of European Equities and prior to that also served as Head of Asia-Pacific Equities." http://www.nomuraholdings.com/news/nr/ho...10308.html
· SILVER LAKE PARTNERS is the leading private equity firm focused exclusively on large-scale investing in technology and related growth industries. Silver Lake seeks to achieve superior returns by investing with the strategic insight of an experienced industry participant, the operating skill of a world-class manager, and the financial expertise of a disciplined private equity investor. Specifically, Silver Lake's mission is to function as a value-added partner to the management teams of the world's leading technology franchises. Its portfolio companies include technology industry leaders such as Ameritrade, Business Objects, Flextronics, Gartner, Network General, Seagate Technology, SunGard, Thomson and UGS http://www.silverlake.com/, http://www.nasdaq.com/newsroom/news/pr20...05_044.stm
· Glenn Hutchins is Co-Founder and Co-Chief Executive and General Partner of Silver Lake Partners. He co-founded Silver Lake in January 1999 and is based in New York office of the firm. He is also the Managing Member at Silver Lake Technology Management, L.L.C. He is a Director of NASDAQOMX Group, Inc. since February 2007. Mr. Hutchins is currently a Member of the Advisory Council of the Hamilton Project and a Member of the Council on Foreign Relations and the World Economic Forum. Mr. Hutchins is also a Trustee of the Brookings Institution. He is a Director of the Partnership for New York City and a Member of the Investors Advisory Committee on Financial Markets of the Federal Reserve Bank in New York.
Mr. Hutchins is the Chairman of SunGard Corp. He is also a Director at Mercury Payment Systems; Seagate Software (Cayman) Holdings Corporation; New SAC; Clark Refining & Marketing, Inc.; Clark USA, Inc.; American Axle and Manufacturing Holdings, Inc.; American Axle and Manufacturing, Inc.; Corp. Banca (Argentina) S.A.; Corp. Group C.V.; CARE Inc.; and Haynes International Inc.
Mr. Hutchins is a Director of the Harvard Management Company and also the Chairman of the National Advisory Board and the W.E.B. DuBois Institute for African and African American Research at Harvard. He holds a J.D. degree from Harvard Law School, an M.B.A. degree from Harvard Business School, and an A.B. degree from Harvard College.
From 1994 to 1999, Mr. Hutchins was a Senior Managing Director and General Partner at The Blackstone Group, L.P., he focused on its private equity investing; joined the firm in 1994 as a General Partner responsible for investing Blackstone's Merchant Banking II and III, L.P. funds. At the firm, Mr. Hutchins worked as a Senior Member of the transaction teams and also served on its Investment Committee.
NOTE: Jacob Wallenberg and Glenn Hutchins connect to Blackstone. Jacob Wallenberg continues to be on the International Advisory Board. This might explain why Glenn Hutchins/Silver Lake provided additional NASDAQ OMX Shares to Wallenberg's INVESTOR. In addition, it was Blackstone that initially funded the creation of BlackRock, presently the secondary owner of ABB with INVESTOR AB.
http://www.blackstone.com/cps/rde/xchg/b...enberg.htm
Blackstone? BlackRock? Whoever - Real Time Economics - WSJ
http://blogs.wsj.com/economics/2008/04/0...k-whoever/
From 1988 to 1994, he was the Managing Director at Thomas H. Lee Company. Mr. Hutchins joined the firm in 1985 as a Vice President, assisting the firm in the execution of transactions and providing support in the monitoring of portfolio companies and the realization of investments. Mr. Hutchins was a Special Advisor to the Clinton-Gore transition and in the White House during parts of 1992, 1993, and 1994 on economic and healthcare policy. After leaving government, he was appointed by President Clinton to chair an initiative on privatization in the former Soviet Union and by Secretary Robert Rubin to serve on the Treasury Department's Advisory Committee on Financial Services from 1995 to 1996.
Source: BusinessWeek
Business Relations are
http://investing.businessweek.com/busine...=Thisbe+AB
Board Relations are http://investing.businessweek.com/busine...onId=66782
EXHIBIT C
History and Time Line
During the 1980's, INVESTOR establishment of the stock exchange technologies company OM (OMX today). http://www.investorab.com/en/AboutInvest...4_1994.htm
1996: Nasdaq expands the Board of Directors from10 to 15 members for better transparency and public trust
http://www.finra.org/Newsroom/NewsReleases/1996/P010557
1998: Merger between OM and the Stockholm Stock exchange creates OM Group.
http://www.nasdaqomx.com/whoweare/milestones/
http://glossary.reuters.com/index.php/OM_Stockholm
2003: Merger between OM AB and HEX plc creates OM HEX (rebranded OMX in 2004).
https://secure.wikimedia.org/wikipedia/en/wiki/OMX
2005: OMX buys the Copenhagen stock exchange.
https://secure.wikimedia.org/wikipedia/en/wiki/OMX
2006: OMX buys the Iceland stock exchange.
https://secure.wikimedia.org/wikipedia/en/wiki/OMX
March 27th 2006: Per E. Larsson is appointed CEO of DIFX. He was CEO of OMX up to 2003 and had been with the company for 18 years.
http://www.difc.ae/news/difx-appoints-e-...ase-growth
http://www.borsedubai.ae/media21.htm
http://www.arabbankers.org/shared/custom...7360__6121
Larsson's Background can be found on Bloomberg, but it seems to be a bit outdated.
http://investing.businessweek.com/resear...tment+Bank
2007: OMX buys the Armenian stock exchange.
https://secure.wikimedia.org/wikipedia/en/wiki/OMX
May 2007: Rumours concerning Dubai International' s interest in outbidding Nasdaq in the takeover attempt of OMX erupt. Hedge funds start buying into OMX. The Wallenberg family owns around 11% of OMX at this time (through Investor AB) and the swedish government owns 6.6%.
http://www.forbes.com/2007/05/28/nasdaq-...ets04.html
http://www.arabianbusiness.com/borse-dub...57380.html
August 2007: Per E. Larsson is appointed CEO of Borse Dubai. See: http://www.borsedubai.ae/media21.htm
Aug 6th 2007: Borse Dubai is founded to consolidate DFM and DIFX according to a press release from Dubai government. At this time, Borse Dubai owns 100% of the shares from DIFX. http://www.borsedubai.ae/media1.htm
Aug 9th 2007: Borse Dubai announces purchase of 4,9 % of OMX shares and announces an interest in buying 25%. See: http://www.borsedubai.ae/media2.htm and http://www.borsedubai.ae/media3.htm
With this move, it enters the ongoing takeover battle for OMX, in which Nasdaq and Qatar have been major players up to then.
Between Aug 9th and Aug 16th 2007: Hedge funds acquired 27% shares of OMX in expectation of the takeover battle between Nasdaq and Borse Dubai.
http://ftalphaville.ft.com/blog/2007/08/...e-for-omx/
FSA starts an investigation into the aforementioned all cash offer by Borse Dubai for OMX shares to find out whether it breached Swedish laws.
http://www.ft.com/cms/s/0/8adbc3d6-4bd5-...z1H3WRODul
http://www.ft.com/cms/s/0/35f4ddc0-4bd1-...z1H3WRODul
Aug 17th 2007: Borse Dubai launches an all cash offer for OMX shares at SEK 230 and FSA intensifies the investigations.
http://www.borsedubai.ae/media4.htm
http://www.borsedubai.com/offer_document...cument.pdf (offer document)
http://ftalphaville.ft.com/blog/2007/08/...-omx-deal/
With this move, they outbid Nasdaqs offer of SEK 200.
http://ftalphaville.ft.com/blog/2007/08/...omx-fight/
Aug 21st 2007: Borse Dubai answered the FSA questions.
http://www.khaleejtimes.com/DisplayArtic...n=business
Aug 23rd 2007: FSA ruled that Borse Dubai had broken swedish law but decided not to impose a penalty on Borse Dubai, since Borse Dubai issued a supplement to the original offer. The Swedish government, Investor AB and OMX still have some qualms about accepting the offer from Borse Dubai instead of the Nasdaq offer.
http://www.forbes.com/2007/08/20/omx-swe...ets35.html
http://www.forbes.com/2007/08/23/omx-dub...ets24.html
http://www.bi-me.com/main.php?id=12600&t=1&c=34&cg
Aug 23rd 2007: Borse Dubai acknowledges the FSA demands but states it had acted in good faith to be in accordance with swedish laws.
http://www.borsedubai.ae/media5.htm
http://www.borsedubai.ae/media6.htm
http://www.borsedubai.ae/media7.htm
End of August 2007: A criminal investigation is launched by the National Economic Crimes Bureau in Sweden concerning alleged insider trading activities around the OMX deal between May and August 2007, involving the investment bank D. Carnegie.
http://www.thelocal.se/8337/20070830/
http://www.thelocal.se/8349/20070831/
http://www.telegraph.co.uk/finance/marke...r-OMX.html
https://www.nytimes.com/2007/10/05/busin...gewanted=1
Sept 17th 2007: Borse Dubai submits application to permission to acquire shares in OMX.
http://www.borsedubai.ae/media8.htm
Sept 20th 2007: Borse Dubai issues a statement saying they will team up with NASDAQ to take over OMX. http://www.borsedubai.ae/media9.htm
Sept 26th 2007: Borse Dubai press release detailing the agreement with Nasdaq. The all cash offer is raised to SEK 265 per share. At this price, Borse Dubai has managed to secure irrevocable undertakings from Investor AB (publ), Nordea Bank AB (publ), Olof Stenhammar, Didner & Gerge Fonder AB, Nykredit Realkredit A/S and Magnus Böcker (the selling OMX shareholders) and through them Borse Dubai got 18,5 % of OMX in Sept 2007, bringing 47,6% of OMX shares under its control.
http://www.borsedubai.ae/media10.htm
Nov 11th 2007: FSA finally clears the Borse Dubai and Nasdaq takeover and the Nasdaq agreement.
http://gulfnews.com/business/markets/bor...x-1.212199
Nov 15th 2007: The OMX transaction agreement between NASDAQ, Borse Dubai and BD Stockholm AB is signed. Document available below.
http://www.borsedubai.ae/offer_documents...eement.pdf
Jan 4th 2008: Offer supplement for OMX shares at SEK 265.
http://www.borsedubai.com/offer_supplime...lement.pdf (offe...
Attention News Desk, Assignment Desk - International Finance, Politics
This is a message from Anonymous concerning "Operation Want"
Washington, D.C. - On Friday, April 1, 2011, an Operations Department of Anonymous, has launched "Operation Want" by providing to the U.S. Securities & Exchange Commission detailed information on the corruption occuring within the NASDAQ OMX Group and their proposed changes to laws that specifically benefit Sweden's Elite Wallenberg Family
What is Operation Want?
Operation Want is an online think-tank of Anonymous researchers, writers and artists that are specifically interested in transparency of government and political relationships between Sweden and the U.S. concerning the case of Julian Assange and the coordinated smear campaign against WikiLeaks.
Anonymous is an online confederation of free speech, internet freedom and freedom of information activists. Our goal is absolute transparency of governmental and corporate activities for the benefit of the public of each nation they are in. We believe this case, while it may be obscure to the average citizen, actually will promote their welfare in the near and long term.
Operation Want began as a freelance investigation into the reasons and persons behind the international charges filed against WikiLeaks founder, Julian Assange. Why was an apparently fraudulent case that was dismissed and forgotten reopened? Why did Interpol become involved, rating him at their top red level? Why is the Swedish judiciary pursuing Assange with such ferocity? What interests are involved in this case? What is their motive? Through assessing all of the published Wikileaks cables from the Stockholm Embassy, we believe we can illuminate the machinations as to who has the means and motive.
NASDAQ OMX Group is valued at over $14 trillion. The makeup of the 15 member Board of Directors has lost their balance between industry, non-industry and public interest. For the past five years there has been a power struggle over control and a considerable amount of personal greed. Two of the wealthiest 1% are fighting for ultimate control at the expense of the public trust. The end-game of the struggle within NASDAQ OMX will result in a Swedish-based cartel, which will prevent majority voting abilities within the world's largest global financial trading body.
When corporate and personal self interests dominate, the public's welfare is disregarded, and they are left with picking up the bill. Peoples of the Western Nations are currently dealing with the ramifications of government bailouts of "too big to fail" banking and Wall Street institutions. Education, Health and Welfare programs, Public Worker benefits and pensions, and regulations protecting the food supply and the environment are cut. The middle class is continually being degraded via wage and benefit reductions, and fewer opportunities. Governments turn to austerity measures which only impact the working man and woman, leaving them less and less able to cope, leaving the elite classes insulated from the global economic reality. The risks of there being one more "too big to fail" financial institution, such as NASDAQ are astronomically incalculable.
Anonymous, through Operation Want has taken action, via legal representation, to oppose NASDAQ's proposal to change the laws that are in place, for the public's interests and that of transparency. We cannot stand by and do nothing while the Wallenberg-led "Cartel" is plotting to hijack the largest stockmarket in the world. It appears that Mr. Assange is but one more commidity to be traded by the Swedes.
This attached letter is a copy that has been submitted to the SEC, by legal counsel, on behalf of Anonymous Operation Want and supporting non-profit organizations that oppose the NASDAQ proposal to expand the size of the board to allow an additional Wallenberg company director to have a seat on the board. This comment letter is comprehensive and extensive.
We are Anonymous.
Anonymous is Everyone.
Anonymous is Everywhere.
We do not forget.
We do not forgive.
We are Legion.
Expect us.
April 1, 2011
Elizabeth M. Murphy, Secretary
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-1090
SUBJECT: Public Comments on File No. SR-SCCP-2011-001 or SR-BSECC-2011-001
Dear Secretary Murphy:
These Public Comments are being submitted on behalf of Anonymous Operation Want; an Anonymous affiliated online group think-tank of researchers, activists and hacktivists (Anons) against censorship, corporate and government corruption with specific interest in Sweden and the United States; World Citizens for Truth and Freedom, an unincorporated non-profit organization; and Prosperity Agenda, an organization of 35,0000 people seeking to create a democratized economy. These comments and information are also being submitted to protect the public trust and under whistleblower provisions.
These public comments oppose the proposal made by the NASDAQ OMX Group ("NASDAQ"), to change existing rules, regulations and laws to expand the number of seats on their Board of Directors from 15 seats to 16, in order to create a new seat for Investor AB. We request that the SEC deny the requested proposal. Members of the organizations submitting these comments, and public may be harmed by the NASDAQ requests if approved by the SEC, and implemented by NASDAQ.
Further, the organizations filing these Comments request that the SEC investigate and take appropriate enforcement action against certain board members of NASDAQ including Borje Ekholm, Lars Wedenborn, Birgitta Kantola, Urban Backstrom and Hans Munk Nielsen, as well as the companies that they represent among them, Investor AB, FAM, STORA ENSO, NORDEA INVEST and the Confederation of Swedish Enterprise. [Exhibits A-D]
NASDAQ OMX not only operates the NASDAQ stock market and seven European stock exchanges in the Nordic and Baltic areas, but the NASDAQ OMX Group technology supports the operations of over 60 exchanges, clearing organizations, and central securities depositories in more than 50 countries. The NASDAQ OMX Group (NASDAQ: NDAQ), the world's largest exchange company, represents a value of approximately $14.4 trillion. [Exhibit B] The addition of INVESTOR AB, with approximate ownership of 120 companies, will further concentrate economic power in the hands of the Sweden's Wallenberg family which is already over represented on the NASDAQ OMX board. [Exhibits A-D]
This expansion is not in the public interest, but in the interest of a single family. The Wallenberg's core companies, under INVESTOR AB, have been involved in violations of civil and criminal law [Exhibit A] as well as provided the SEC with incomplete information, about their holdings and board members, to understate their control of the NASDAQ. [Exhibit A-C] Further, the current board membership already violates NASDAQ rules in that the independent non-industry and public interest are under-represented.
Reasons for Opposition to Expansion of NASDAQ Board and the Need for SEC Investigation
1. The Board Expansion Fails to Protect the Public Interest and Further Concentrates Control of the NASDAQ in the Wallenberg Family
The NASDAQ OMX Group has had 15 board members since April 1, 1996, and performed their functions without the need for expanding the size of the board. Prior to that date, there were 10 board members. According to the Financial Industry Regulatory Authority press statement of April 1, 1995, the purpose for expanding the NASDAQ board in 1996 was:
". . . to increase public participation in the governance of Nasdaq, the Nasdaq Board is expanding the number of non-industry directors..." [Exhibit B ]
The request for expansion of NASDAQ OMX Group will not benefit the public interest, but only benefit the interest of the Wallenberg family through Investor AB which they control. The public interest is already undermined because the SEC has failed to make sure that at least one third (5) board members are "non-industry" representatives who would protect the public interest. [Exhibit B]
Investor AB does not qualify as a non-industry sector director, thus adding to the problem. The SEC should notify the Chairman and Board of NASDAQ that they need to bring the independent non-industry and public interest balance back to the makeup of the board and to do so without expanding the number of seats, rather than expanding the board. NASDAQ by-laws provide the procedures for the Chairman and board to use to remove board members if they do not resign. (NASDAQ By-laws, Article VII, Sec. 7.5) [Exhibit B]
The addition, Investor AB adds to the control of the Wallenberg family on the NASDAQ. Investor AB has shared interests with the NASDAQ board members that are representing FAM, STORA ENSO, NORDEA INVEST and the CONFEDERATION OF SWEDISH ENTERPRISE. Creating one more industry representative seat on the NASDAQ board, specifically for Wallenberg family interests and personal profit via Investor AB, could cause problems in a publicly perceived power grab or cartel by the Swedish elites. [Exhibits A, B, D]
The SEC should take note of the conflicts of interest in the current makeup of the NASDAQ board, with or without the inclusion of INVESTOR AB. Although NASDAQ by-laws require members with conflicts of interest to recuse themselves from voting, there appears to be no enforcement actions taken by the board or SEC. (NASDAQ By-laws Sec. 4.14 b). [Exhibit B]
When the majority of the board has self-interests and/or conflicts of interest, then it becomes highly unlikely, if not impossible to pass a vote with the majority of the board.
There is an important issue pending before the NASDAQ board, since March 2, 2010. NASDAQ OMX announced approval of a share repurchase program totaling up to 300 million outstanding common stock. This repurchase has not been completed. In the current request to expand the board, the consequences of the possible completion of this repurchase program for the board of directors have not been taken into account. However, it is very likely that an eventual completion would add further conflict of interest to the decisions of the board. [Exhibit C]
2. INVESTOR AB Filings to the SEC Contains False and Misleading Statements and Omissions, and Other Fraudulent Conduct
Between December 10, 2010 and March 10, 2011 several SEC files were submitted by or for INVESTOR AB and subsidiaries or business relationships all coming from the same address in Sweden. [Exhibit C] The SEC filing, with Attachments, dated March 10, 2011, and others, omitted relevant information including;
A. Who controls or owns Investor AB [Exhibit B]
B. Business affiliations and board relationships for the Investor AB board members [Exhibits A,B,D]
C. Transactions and exchanges of NASDAQ OMX Shares with companies that do not appear to be registered with the SEC and have not filed annual reports. [Exhibit B]
These omissions of relevant information appear to be a deliberate attempt to hide the fact that the Wallenberg family, their foundations and FAM are controlling owners of Investor AB. If accurate and truthful filings had been provided to the SEC and public it would have been obvious that the Wallenberg family has several companies, under their control, already on the NASDAQ board. Omissions of pertinent information is unlawful and a form of censorship that violates the public trust. Accurate information on the controlling ownership of the companies on the Board of the NASDAQ show that the largest stock exchange in the world is partially owned by an investment company belonging to a private family fund whose core investments are all listed on that stock exchange and who are represented by about one-quarter of the directors of the stock exchange. [Exhibits A, B, D]
3. The NASDAQ Has Been Engaged in Unfair Dealing and Inconsistent in the Value of a Board Member Seat
The NASDAQ is inconsistent in their valuation of board seats. A previous agreement entered into with "BORSE DUBAI," owned by the Dubai Government and Ruler of Dubai, set the value of a board seat and committee seat stating: the "Beneficial Owner" must own at least 50 million Shares to have two (2) appointed board members and one (1) committee member. If the number of Shares held should fall below 50 million, but not less than 25 million, then they can have only one (1) board member. Upon examination of the historic board makeup of NASDAQ, it appears that BORSE DUBAI did not exercise their ability to have two board members at the same time. Rather, they had just one that was the Chairman of BORSE DUBAI. Why they did not exercise the option is unknown. Perhaps, no other NASDAQ board members were willing to resign their seat? As of December 10, 2010, BORSE Dubai no longer owns 50 million shares required to have two board members seats. [Exhibit A -C]
If the expansion goes forward to add Investor AB, the SEC will grant the Wallenberg family to control three seats, or more, on the NASDAQ board for their companies -- FAM, FAM's Stora Enso, and the Wallenberg Family Foundations "Investor AB," that is also under FAM [Exhibit B] -- this action would appear to be biased and an unfair dealing. In addition to the overlapping or circular businesses under the control of the Wallenberg's, the SEC must also investigate the true nature of all of the board relations between Borje Ekholm, Lars Wedenborn and Birgitta Kantola [Exhibit B - D], including FAM's holdings and Investor AB's "Core" businesses that are belonging to the Wallenberg family [Exhibit B].
Therefore, it could be reasonably argued that in order for fairness and consistency between NASDAQ shareholders that all "Beneficial Owners" that want two board seats and a committee seat must also own at least 50 million shares. If they want three seats then they would need at least 75 million shares. Jointly, the Wallenberg's Investor AB & FAM total less than 20 million Shares. [Exhibits A, D]
Regardless, the NASDAQ OMX Group must have a Board of Directors that is balanced between Industry and Non-Industry members, without the Industry members creating a cartel to block voting and act on the behalf of one family or country. All financial corporations in the United States must be accountable to the public and investors. The public must not be expected to bail out financial institutions or markets, with valued interests of over $14 Trillion, due to mismanagement, self-interest and personal greed.
4. The Violation of Law by Wallenberg Family Controlled Corporations Makes Their Representation on NASDAQ Inappropriate and Against the Public Interest
Family Assets Management (FAM) handles the financial assets of the Wallenberg's and their twenty (20) Wallenberg Family Foundations. This includes some of the private and publicly held companies that are controlled by the Wallenberg's through majority shares and voting. One example of a company controlled by the Wallenberg's through FAM is STORA ENZO. Another example is that Investor AB is controlled through the three largest of their foundations and in turn under FAM. [Exhibit B]
Investor AB then has approximately 120 private and public companies with many that are owned or controlled by the Wallenberg's. Investor AB was created by the Wallenberg's around 1916, due to new Swedish legislation. Their banks, Skandinaviska Enskilda Banken AB and SEB AG, became "Core" businesses still under the control of the Wallenberg's. Other "Core" businesses under FAM, Investor AB and Wallenberg control are ABB Ltd aka ASEA Brown Boveri, AstraZeneca, Atlas Copco, Ericsson, Electra, Swedish Air Service (SAS), SAAB Group, Husqvarna, Grand Hotels, Mölnlycke Health Care AB, INCENTIVE, Duba AB, Investor Trading, Investor Holding, Patricia AB, Patricia Trading, Patricia Holding and others. [Exhibit B, C]
To completely understand how current and proposed Board Members of the NASDAQ are connected to known federal crimes and current litigation the SEC and DoJ need to understand the business and board relationships [Exhibit A-D]. Since SEC filings have omitted significant information, it is difficult to understand these connections without a complete and independent investigation. But, we do know of some violations of law by Board members and proposed Board members.
A. Investor AB Controls Companies that Have Been Found Guilty of Federal Crimes including, Fraud, Bribery, Anti-Trust and are Under Present Court Proceedings for Allegations of Bank Misappropriations of Clients Investments Involving Hedge Funds. [Exhibit A]
i. ABB agreed to pay $39 million in penalties for bribery schemes in Mexico and the Iraq and $19 million in criminal penalties.
In a September 29, 2010 SEC press release concerning litigation with ABB the SEC states "it filed a settled civil action against ABB Ltd ("ABB") in the United States District Court for the District of Columbia, charging the company with violations of the Foreign Corrupt Practices Act. ABB … through its subsidiaries, paid bribes to government officials in Mexico to obtain business with government owned power companies, and paid kickbacks to the former regime in Iraq to obtain contracts under the United Nations Oil for Food Program… ABB's subsidiaries made at least $2.7 million in illicit payments in these schemes to obtain contracts that generated more than $100 million in revenues for ABB…"
To settle these civil violations of law the SEC ordered ABB to pay $22,804,262 in disgorgement and prejudgment interest, orders the company to pay a $16,510,000 civil penalty. Further in related criminal proceedings, ABB settled the prosecution with the U.S. Department of Justice with ABB agreeing to pay $19 million in criminal penalties. [Exhibit A]
The ABB 2010 annual report describes these events:
"In connection with these settlements, we agreed to make payments to the DoJ and SEC totaling $58 million, which were settled in the fourth quarter of 2010. One subsidiary of ABB pled guilty to one count of conspiracy to violate the anti-bribery provisions of the U.S. Foreign Corrupt Practices Act and one count of violating those provisions. ABB entered into a deferred prosecution agreement and settled civil charges brought by the SEC. These settlements resolved the foregoing investigations." [Exhibit A]
ii. The European Commission Has Conducted Raids on the Premises of ABB in Sweden as Part of an Investigation into Anti-Competitive Activities and Fined ABB $49 Million
The annual report of ABB describes an investigation into violations of anti-trust laws by ABB. They report states "In January 2010, the European Commission conducted raids at the premises of ABB's flexible alternating current transmission systems (FACTS) business in Sweden as part of its investigation into alleged anti-competitive practices of certain FACTS manufacturers. In the United States, the Department of Justice (DoJ) also conducted an investigation into this business. We have been informed that the European Commission and the DoJ have closed their investigations…" [Exhibit A]
The European Commission fined ABB euro 33.75 million (equivalent to $49 million on date of payment) regarding anti-competitive practices in violation of Anti-Trust law. The German Antitrust Authority (Bundeskartellamt) and other antitrust authorities are also reviewing those alleged practices which relate to the German market and other markets. [Exhibit A]
iii. Employees of ABB's Gas Insulated Swithgear Business Have Engaged in Anti-Competitive Practices in Violation of European Anti-Trust Laws
In their Annual Report filed with the SEC, ABB reports: "In May 2004, we announced that we had undertaken an internal investigation which uncovered that certain of our employees together with employees of other companies active in the Gas Insulated Switchgear business were involved in anti-competitive practices. We reported such practices upon identification to the appropriate antitrust authorities, including the European Commission. The European Commission announced its decision in January 2007 and granted ABB full immunity from fines assessed to ABB of euro 215 million under the European Commission's leniency program. We continue to cooperate with other antitrust authorities in several locations globally, including Brazil, which are investigating anti-competitive practices related to Gas Insulated Switchgear. At this stage of the proceedings, no reliable estimate of the amount of potential fines, if any, can be made." [Exhibit A]
iv. Wallenberg Family Controlled, AstraZeneca Has Paid Fines of $520 Million for Off-Label Drug Marketing; and for Another Drug Paid $355 Million to Settle Criminal and Civil Liabilities For Illegal Drug Pricing and Marketing Practices
On April 27, 2010 the Department of Justice issued a press release which stated:
"Pharmaceutical Giant AstraZeneca to Pay $520 Million for Off-label Drug Marketing."
This was to "resolve allegations that AstraZeneca illegally marketed the anti-psychotic drug Seroquel for uses not approved as safe and effective by the Food and Drug Administration." The company signed a civil settlement and agreed to pay the federal government $301,907,007 from the civil settlement, and the state Medicaid programs and the District of Columbia will share up to $218,092,993 of the civil settlement.
The United States also contended that "AstraZeneca violated the federal Anti-Kickback Statute by offering and paying illegal remuneration to doctors it recruited to serve as authors of articles written by AstraZeneca and its agents about the unapproved uses of Seroquel." These are serious violations of law that put the health of Americans at risk, as Attorney General Eric Holder said: "Illegal acts by pharmaceutical companies and false claims against Medicare and Medicaid can put the public health at risk, corrupt medical decisions by health care providers, and take billions of dollars directly out of taxpayers' pockets." [Exhibit A]
On June 20, 2003 the Department of Justice announced that AstraZeneca pleaded guilty to health care crimes and agreed to pay $355 million to settle the charges. The Department of Justice said that "to resolve criminal charges and civil liabilities in connection with its drug pricing and marketing practices with regard to Zoladex, a drug sold by AstraZeneca Pharmaceuticals LP and used primarily for the treatment of prostate cancer… AstraZeneca pleaded guilty to conspiring to violate the Prescription Drug Marketing Act ("PDMA") by causing to be submitted claims for payment for the prescription of Zoladex which had been provided as free samples to urologists. This criminal conduct caused losses of $39,920,098 to Medicare, Medicaid and other federally funded insurance programs.
As part of the plea agreement, AstraZeneca agreed to pay a $63,872,156 criminal fine. Further, "AstraZeneca agreed to settle its federal civil False Claim Act liabilities and to pay the U.S. government $266,127,844 to resolve allegations that the company caused false and fraudulent claims to be filed with the Medicare, TriCare, Department of Defense and Railroad Retirement Board Medicare programs as a result of AstraZeneca's fraudulent drug pricing schemes and sales and marketing misconduct…" [Exhibit A]
v. Wallenberg Controlled Bank Faces Litigation By Hedge Fund Seeking €200m
Skandinaviska Enskilda Banken, a bank controlled by the Wallenberg family, faces action from Euroption, a British Virgin Islands-based hedge fund with offices in London, England. The Swedish investment bank is being sued for about €200 million the hedge fund that claims the bank slashed the value of its portfolio by failing to close out its investment positions properly after the bank seized control of its portfolio at the height of the credit crunch. The hedge fund argues that delays in exiting its option positions, which included bets on the FTSE, fuelled the collapse in the value of its portfolio from €74 million to under €2 million in less than ten days. [Exhibit A]
5. APPEARANCE OF INSIDER INFORMATION & TRADING
How Investor AB acquired millions of shares of NASDAQ OMX is highly questionable and should reflect on whether INVESTOR AB should hold a seat on the NASDAQ board. Especially, when considering the history between the Government and Ruler of Dubai (BORSE DUBAI) and the Wallenberg's of Sweden (INVESTOR AB). It appears that Wallenberg and the Ruler of Dubai had some sort of agreement that was not divulged to the SEC and the public or maybe not even to other Board Members and Shareholders of NASDAQ OMX. It appears that the Wallenberg's knew in advance they would be getting shares from BORSE DUBAI and with NOMURA to be the mediator or go between. According to the BORSE DUBAI news release, NOMURA agreed to only provide the Shares to INVESTOR [Exhibits B, C].
The Wallenberg's have controlling ownership of INVESTOR AB, FAM and Stora Enso.
They also have access to insider information through several NASDAQ OMX GROUP board members, including, but not limited to, Lars Wedenborn of FAM, Birgitta Kantola and Urban Bäckström. Wallenberg's and Glenn Hutchins appear to have known in advance, before the public, that BORSE DUBAI was going to release millions of NASDAQ Shares and the price per Share, amounting to 50% less than the 2008 cost, a significant devaluation. Agreements and contracts had to have been made in advance, of the December 16, 2010 date, to arrange for Nomura to assist with the share transaction. [Exhibits C]
The SEC must investigate the manner and method in which INVESTOR AB and their trading companies - Duba, Investor Trading, Patricia and Patricia Trading, came to have been informed that BORSE DUBAI was going to release such a significant amount of Shares on December 16, 2010, and make arrangement to have NOMURA in position with an contractual agreement between them that would specifically benefit the Wallenberg's (INVESTOR AB). [Exhibit C]
Additionally, the SEC must investigate the agreement between the Wallenberg's (INVESTOR AB) and NASDAQ OMX GROUP board member, Glenn Hutchins and SILVER LAKE PARTNERS. Glenn Hutchins business and board history triangulate with the Wallenberg's through BlackRock that was financed by Blackstone [Exhibit D], and that BlackRock, along with Investor AB, are the major Shareholders of the criminal corporations, ABB and AstraZeneca. [Exhibits A-D].
It appears that Glenn Hutchins and SILVER LAKE PARTNERS acquired Shares specifically to provide to Wallenberg's INVESTOR AB and/or their trading or holding companies - Duba, Investor Trading, Patricia AB, Patricia Trading, and Patricia Holding. [Exhibit C]
World Citizens for Truth and Freedom, Operation Want and Prosperity Agenda oppose the expansion of the NASDAQ OMX Board and specifically opposes the addition of ABB to the Board of Directors. The Board is dominated by the personal interests of Board members rather than the public interest. This problem will be made worse by the addition of INVESTOR AB. The Board Chairman should be directed to correct the imbalance on the Board rather than expanding the Board.
Further, the history of ABB and other Wallenberg family controlled corporations includes unethical and illegal practices that make it inappropriate for Board membership. Finally, we request the SEC to investigate the practices of specific members of the Board as described in these Public Comments, taking the enforcement and legal actions as needed.
Sincerely,
Kevin B. Zeese, Esq.
On Behalf of Anonymous Operation Want, World Citizens for Truth and Freedom, and Prosperity Agenda
Exhibits
EXHIBIT A: Current Beneficial Owners of the NASDAQ OMX Group, and Criminal Findings, Investigations & Proceedings
EXHIBIT B: Identities and Background
EXHIBIT C: History and Time Line
EXHIBIT D:Identification of NASDAQ OMX Group's Board Members, CV's and Shares
EXHIBIT A
Current Beneficial Owners of the NASDAQ OMX Group
As of March 11, 2011, there are three (3) "Beneficial Owners" with 10% or more ownership of NASDAQ OMX Shares, including;
1. "BORSE DUBAI" http://www.borsedubai.com/media43.html
(INVESTMENT CORPORATION OF DUBAI (ICD) or Dubai Government http://www.icd.gov.ae/ ("Ruler of Dubai") http://www.icd.gov.ae/icd_and_dubai.html with 47,440,882 Shares. http://ir.nasdaq.com/ownership.cfm
2. "INVESTOR AB" (PATRICIA HOLDING AB) http://ir.nasdaq.com/secfiling.cfm?filin...9-11-13570 and http://ir.nasdaq.com/secfiling.cfm?filin...9-11-13621 or FAM or Wallenberg Family Foundations http://www.fam.se/tillgangar/default.aspx or Wallenberg Family of Sweden http://www.ft.com/cms/s/0/f52cf9a2-4029-...abdc0.html and http://www.investorab.com/en/AboutInvestor/default.htm ("WALLENBERG")) with18,004,142 Shares. http://ir.nasdaq.com/ownership.cfm
3. "SILVER LAKE PARTNERS" (Glenn Hutchins, co-founder) with 730,250 Shares. http://ir.nasdaq.com/ownership.cfm
Business Relations are http://investing.businessweek.com/busine...=Thisbe+AB
Board Relations are http://investing.businessweek.com/busine...whoever%2F
CRIMINAL FINDINGS, INVESTIGATIONS & CURRENT PROCEDINGS
ABB aka Asea Brown Boveri
September 29, 2010, Litigation Release No. 21673. http://www.sec.gov/litigation/litrelease...r21673.htm.
ABB Annual Report published on March 17, 2010 pgs 99-104 for crimes etc. http://www02.abb.com/global/abbzh/abbzh2...rm+20F.PDF
US Department of Justice - Listing on various investigations and prosecutions of criminal activities byABB http://searchjustice.usdoj.gov/search?q=...collection
ABB Board of Directors http://www.abb.com/cawp/abbzh252/68c4c47...7fe78.aspx
ASTRAZENECA
April 27, 2010: "Pharmaceutical Giant AstraZeneca to Pay $520 Million for Off-label Drug Marketing" http://www.justice.gov/opa/pr/2010/April...v-487.html
June 3, 2003 http://www.justice.gov/opa/pr/2003/June/03_civ_371.htm.
2010 Annual Report http://www.astrazeneca-annualreports.com...single.pdf
SEB bank
November 18, 2010 "Hedge fund demands €200m from Wallenberg bank," , http://www.stewartslaw.com/hedge-fund-de...-bank.aspx.
EXHIBIT B
Identities and Background
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the largest electronic screen-based equity securities trading market in the United States and second-largest by market capitalization in the world. It was founded in 1971 by the National Association of Securities Dealers (NASD), who divested themselves of it in a series of sales in 2000 and 2001. It is presently owned and operated by the NASDAQ OMX Group, the stock of which was listed on its own stock exchange beginning July 2, 2002, under the ticker symbol NASDAQ: NDAQ. It is regulated by the Financial Industry Regulatory Authority (FINRA). As of January 13, 2011, there are 2,872 listings.The NASDAQ has more trading volume than any other electronic stock exchange in the world. The group, now known as NASDAQ-OMX,controls and operates the NASDAQ stock exchange in New York City the second largest exchange in the United States. It also operates eight stock exchanges in Europe and holds one-third of the Dubai Stock Exchange. It has a double-listing agreement with OMX, and will compete with NYSE Euronext group in attracting new listings…" http://en.wikipedia.org/wiki/NASDAQ http://www.marketswiki.com/mwiki/NASDAQ_OMX_Group,_Inc.
"The NASDAQ OMX Group (NASDAQ: NDAQ), the world's largest exchange company that represents a value of approximately $14.4 trillion " http://www.faqs.org/sec-filings/100218/N...-INC_10-K/ The NASDAQ OMX GROUP Inc. is a Delaware corporation. The principal executive offices of the Issuer are located at One Liberty Plaza, New York, New York 10006. http://www.sec.gov/Archives/edgar/data/8...1sc13d.htm The
NASDAQ OMX Group, Inc. is a holding company created by the business combination of The Nasdaq Stock Market, Inc. and OMX AB (publ) which was completed on February 27, 2008.SEC Form 10-K Annual Report http://www.faqs.org/sec-filings/100218/N...z1HxGxMds9
http://www.borsedubai.ae/offer_documents...eement.pdf
The NASDAQ, including subsidiaries, board members and directors are regulated and must comply with specific rules and regulations to uphold the public trust and that of the investors. The FISA, SEC and DoJ are US Government agencies and departments that are responsible for investigations and enforcement of the rules, regulations and other laws effecting NASDAQ. http://www.sec.gov/about/offices/oia/oia...wenfor.pdf
In 1996 the NASDAQ board size and make up was specific
http://www.finra.org/Newsroom/NewsReleases/1996/P010557
NASDAQ OMX Group By-laws http://www.faqs.org/sec-filings/100422/N...z1HwqLue5N
INVESTOR AB is "a Nordic-based industrial holding company founded almost one hundred years ago by the Wallenberg family." http://www.investorab.com/en/AboutInvestor/default.htm
The company is "primarily engaged in a business other than that of investing, reinvesting, owning, holding,or trading in securities. Investor AB is a Swedish diversified industrial holding company. (Rel. IC-21477: International Series Rel. 880 - November 7) Per SEC declaration and order under section 3(b)(2) of the Investment Company Act" November 9, 1995, SEC News Digest, Issue 95-217, Investment Company Act Releases. http://www.sec.gov/news/digest/1995/dig110995.pdf Jacob Wallenberg is the Chairman of INVESTOR AB and Borje Ekholm is the CEO. The Board of Directors can be viewed on the INVESTOR AB website. http://www.investorab.com/en/AboutInvest...efault.htm
Borje Ekholm business relations http://investing.businessweek.com/busine...O+AB-A+SHS
Ekholm board relations -http://investing.businessweek.com/busine...nId=109812
Identification of other board members of INVESTOR AB are found at http://www.investorab.com/en/AboutInvest...efault.htm
INVESTOR TRADING AB is 100% owned and controlled by Duba AB. Investor Trading AB held the NASDAQ OMX Shares reported in the Schedule 13D. Investor AB Trading is engaged principally in the business of making investments in securities. (see "Item 2 Identity and Background" http://www.sec.gov/Archives/edgar/data/8...1sc13d.htm
· DUBA AB is 100% owned and controlled by Investor AB. Duba AB is engaged principally in the business of making investments in securities. (see "Item 2 Identity and Background" http://www.sec.gov/Archives/edgar/data/8...1sc13d.htm }
· PATRICIA HOLDING AB is 100% owned and controlled by Investor AB. Prior to March 7, 2011, such Shares were held by Investor Trading AB, which is 100% owned and controlled by Duba AB, which is 100% owned and controlled by Investor AB. http://ir.nasdaq.com/secfiling.cfm?filin...9-11-13570
Filed Mar 10, 2011. Form SC 13D/A. Amended General Statement of Beneficial Ownership. http://ir.nasdaq.com/secfiling.cfm?filin...9-11-13621
· PATRICIA AB is "a Swedish securities trading firm owned jointly by the two investment companies Investor and Providentia..." and "a major active stockholder in STORA " (Sept 9, 1990) http://ir.investorab.com/files/press/inv...000-en.pdf In 1990, AB Patricia is jointly owned by AB Investor and Forvaltnings Providentia has acquired...holding in Incentive AB. Patricia, together with Investor and Providentia then hold 48.2% of Incentives capital stock and 59.6% of the voting rights. Investor, Providentia and Patricia have accepted the Share alternative of ASEA's public offer to the shareholders of Incentive. [ ] http://ir.investorab.com/files/press/inv...000-en.pdf
http://www.sec.gov/Archives/edgar/data/8...1sc13d.htm
· FAM is a Wallenberg Family business called "Financial ASSET Management."
The Wallenberg's have a second FAM business that is "Financial ADMINISTRATION Management." Both FAM businesses are wholly owned by Sweden's Wallenberg Family. Foundation Asset Management manages the assets and donations of the three largest foundations, including The Knut and Alice Wallenberg Foundation, by means of direct ownership and management and consultancy agreements. http://www.fam.se/in-english.aspx The three Wallenberg Foundations own INVESTOR AB, in addition to other family owned and controlled companies. http://www.fam.se/tillgangar/default.aspx
Financial ASSET Management (FAM) is represented on the NASDAQ OMX Group's board of directors by Lars Wedenborn, the CEO of FAM and former VP & CEO of the Wallenberg's "INVESTOR AB" (2000-2007). Mr. Wedenborn also serves on the board of other Wallenberg owned companies, including Thisbe AB, SKF and The Grand Hotel. He is also, the current Chairman of the Board of the NASDAQ OMX Nordic Ltd.
Lars Wedenborn business relations -http://investing.businessweek.com/busine...A+ENSO+OYJ-R%20SHS
Lars Wedenborn board relations -http://investing.businessweek.com/busine...nId=109818
· The Knut and Alice Wallenberg Foundation is the largest owner of Investor. The foundation holds 40,0 percent of the votes and 18,6 percent of the share capital. The three largest Wallenberg foundations combined own 22.3 percent of the share capital and 48.0 percent of the voting rights. Following foundations are included: Knut and Alice Wallenbergs Foundation, Marianne and Marcus Wallenberg Foundation and Marcus and Amalia Wallenbergs Memorial Fund. However, other Wallenberg owned/controlled companies and individual family members also own Investor AB Shares that ensure Wallenberg family control.
Owners: http://www.investorab.se/en/Investors_me...efault.htm
Insiders: http://www.investorab.se/en/Investors_me...siders.htm
Peter Wallenberg Jr: http://www.investorab.se/en/Investors_me...siders.htm
http://www.wallenberg.com/kaw/styrelse/default.aspx
Jacob Wallenberg: (also Chairman of Investor AB, Director of ABB and others) http://www.investorab.se/en/Investors_me...siders.htm
http://www.wallenberg.com/kaw/styrelse/default.aspx
Marcus Wallenberg: http://www.investorab.se/en/Investors_me...siders.htm
http://www.wallenberg.com/kaw/styrelse/default.aspx
Michael Trenschow: (Board Member of KAW Foundation,Director of ABB and others)
http://www.wallenberg.com/kaw/styrelse/default.aspx
· THE WALLENBERG FAMILY of SWEDEN & BUSINESS RELATIONS ON THE NASDAQ OMX BOARD OF DIRECTORS
Besides their direct influence on the NASDAQ OMX Group decisions and actions,through Lars Wedenborn (FAM) and Borje Ekholm (Investor AB), the Wallenberg's have other connections and influences with various NASDAQ OMX board members and Share holders. Birgitta Kantola (Stora Enzo and SEB) on the NASDAQ OMX board is also influenced by the Wallenberg's through their Family Asset Management (FAM), that is the primary shareholder and owner of Stora Enzo. In 2001, the Wallenberg's swaped various company shares betweed Investor AB and the Wallenberg Foundations.
http://www.investorab.com/en/AboutInvest...4_2004.htm
In addition, to Lars Wedenborn, Borje Ekholm and Birgitta Kantola, it appears that Urban Backstrom is also within the Wallenberg sphere of influence or possible cartel? UrbanBackstrom use to be the chairman of ScandiaLiv. Presently, he is the chairman of the "Confederation of Swedish Enterprise" ("Confederation") that includes the majority of the board members of Investor AB. The Confederation also works for or with the Wallenberg's in many of their EU related meetings and lobbying efforts worldwide with business and political representatives, according to the Confederation reports, found on their website.
Definition of "Cartel."
1. A combination of independent business organizations formed to regulate production, pricing, and marketing of goods by the members.
2. A group of parties, factions, or nations united in a common cause; a bloc. http://www.thefreedictionary.com/cartel and A group of businesses or nations that act together as a single producer to obtain market control and to influence prices in their favor by limiting production of a product. The United States has laws prohibiting cartels. http://financial-dictionary.thefreedicti...com/cartel )
Jacob Wallenberg business relations-http://investing.businessweek.com/busine...IGROUP+INC
Jacob Wallenberg board relations- http://investing.businessweek.com/busine...nId=758113
Jacob Wallenberg board relations:
On the ABB board of directors:
http://www.abb.com/cawp/abbzh252/68c4c47...7fe78.aspx
Wallenberg and Hans Munk Nielsen
On the Swedish Swiss Chamber of Commerce (SSCC) board: http://www.swecham.ch/web/page.aspx?refId=44
Peter Wallenberg Sr business relations - http://investing.businessweek.com/busine...=Thisbe+AB
Peter Wallenberg Sr board relations- http://investing.businessweek.com/busine...nId=751719
Marcus Wallenberg business relations - http://investing.businessweek.com/busine...ROUP%2FTHE
Marcus Wallenberg board relations - http://investing.businessweek.com/busine...nId=109810
Peter Wallenberg Jr business relations - http://investing.businessweek.com/busine...+OYJ-R+SHS
Peter Wallenberg Jr board relations -http://investing.businessweek.com/busine...d=21875496
Business Relations on the board of the NASDAQ OMX GROUP
Lars Wedenborn business relations - http://investing.businessweek.com/busine...+OYJ-R+SHS
Lars Wedenborn board relations - http://investing.businessweek.com/busine...nId=109818
Borje Ekholm business relations - http://investing.businessweek.com/busine...O+AB-A+SHS
Borje Ekholm board relations - http://investing.businessweek.com/busine...nId=109812
"INVESTOR AB. An order has been issued under Section 2(a) (9) of the Investment Company Act declaring that Investor AB controls Astra, STORA ENSO, and Atlas Copco. (ReI. IC-19056; International Series ReI. 478 - October 27) http://www.sec.gov/news/digest/1992/dig102992.pdf
Birgitta Kantola business relations - http://investing.businessweek.com/busine...Id=8267760
Birgitta Kantola board relations - http://investing.businessweek.com/busine...=Thisbe+AB
Gunnar Brock, a board member of Investor AB, has been the Chairman of Stora Enso, since 2010, http://www.storaenso.com/investors/gover...mbers.aspx It appears that INVESTOR AB failed to include this important business relationship when the recent SEC file was made on March 7, 2011. Why did INVESTOR AB and their soley owned company, Patricia Holding, leave out this pertient information about Gunnar Brock? http://ir.nasdaq.com/secfiling.cfm?filin...59-11-2621 Could it be because of the Stora Enso has a board member, Birgitta Kantola, on the NASDAQ OMX Group board of directors? http://www.sec.gov/Archives/edgar/data/8...sc13da.htm
Urban Bäckström business relations - http://investing.businessweek.com/busine...=Thisbe+AB
Urban Bäckström board relations - http://investing.businessweek.com/busine...Id=7529859
In addition, Urban Backstrom has business and board relations through his position with The Confederation for Swedish Enterprise
http://www.svensktnaringsliv.se/multimedia/archive/00020/CV_Urban_B_ckstr_m_i_20885a.pdfhttp://www.svensktnaringsliv.se/om_oss/ledamoter/Enterprise.http://www.svensktnaringsliv.se/multimedia/archive/00020/CV_Urban_B_ckstr_m_i_20885a.pdf and example of business relations http://www.svensktnaringsliv.se/multimed...19341a.pdf and http://www.svensktnaringsliv.se/english/...83645.html
http://www.svensktnaringsliv.se/fragor/k...93339.html
BORSE DUBAI is majority owned by Investment Corporation of Dubai.
http://www.borsedubai.com/media43.html
Borse Dubai is a holding company established in August 2007 to expand Dubai's position as a global capital markets hub. http://www.borsedubai.com/media43.html
Borse Dubai owns a majority stake in Dubai Financial Market (DFM). It also holds a stake of approximately 20% in the London Stock Exchange and a one third stake in NASDAQ Dubai, with DFM holding the other two thirds. http://www.borsedubai.com/media43.html Borse Dubai is also the holding company of the Dubai Financial Market (DFM). http://www.nasdaqdubai.com/investors/f_a_q.html Borse Dubai is the majority shareholder of NASDAQ Dubai, with a two thirds stake. NASDAQ OMX owns one-third of the shares. http://www.nasdaqdubai.com/investors/f_a_q.html
· INVESTMENT CORPORATION OF DUBAI (ICD) is the investment arm of The Government of Dubai. http://www.icd.gov.ae/ Chairman is His Highness Sheikh Mohammed bin Rashid Al Maktoum,
The Ruler of Dubai. http://www.icd.gov.ae/icd_and_dubai.html
· NOMURA INTERNATIONAL Plc (NOMURA) is The Nomura Group (NOMURA), formerly Nomura zaibatsu, is a company headquartered in Chuo, Tokyo. Currently, NORUMA has offices worldwide, including major offices at the World Financial Center in New York City, at the International Finance Centre in Hong Kong, and at Nomura House in London.
Nomura is one of the major industrial and financial conglomerate groupings of Japan. Osaka Nomura bank was founded by Tokushichi Nomura II in 1919 after many successful business ventures and established on the Mitsui zaibatsu model. The group is involved in numerous industries, from oil and gas to construction, chemicals and foodstuffs, as well as what it is known for internationally, as a financial powerhouse.
Group member Nomura Securities, Japan's most well-known stock brokerage firm, is an internationally known conglomerate of financial services and consulting, along with Nomura Research Institute. Nomura's Securities company gained the authority to trade stock in 1938, and went public in 1961. It also has a number of international offices of its own. More recently, Nomura Securities took over the European and Asian operations of bankrupt Lehman Brothers. They increased their U.S. workforce and hired former Goldman Sachs Group Inc. currency strategist Jens Nordvig, 35.
Nomura Holdings, Inc. is the holding company of the Nomura Group. As a keiretsu, it does not directly run member companies, rather it keeps cross shareholdings and manages financial assistance among member companies which help to deflect hostile takeovers.
December 2010, NOMURA was the go between for a transaction between BORSE DUBAI and the Wallenberg's INVESTOR AB in an agreement to provide a specified number of NASDAQ OMX Shares at a certain cost. http://www.borsedubai.com/media43.html
http://www.nomura.com/
http://en.wikipedia.org/wiki/Nomura_Securities_Co
http://www.google.com/finance?q=NYSE%3ANMR
http://www.bloomberg.com/apps/news?pid=n...Y5f6XsWveE
March 8, 2011 Nomura Holdings, Inc. today announced a series of top management appointments to further strengthen its global leadership team.
"Benoit Savoret will join Nomura with immediate effect as Joint Head of Global Equities, reporting to Tarun. Benoit has more than two decades of industry experience and spent 11 years at Lehman Brothers, where he served as Chief Operating Officer in EMEA, Head of European Equities and prior to that also served as Head of Asia-Pacific Equities." http://www.nomuraholdings.com/news/nr/ho...10308.html
· SILVER LAKE PARTNERS is the leading private equity firm focused exclusively on large-scale investing in technology and related growth industries. Silver Lake seeks to achieve superior returns by investing with the strategic insight of an experienced industry participant, the operating skill of a world-class manager, and the financial expertise of a disciplined private equity investor. Specifically, Silver Lake's mission is to function as a value-added partner to the management teams of the world's leading technology franchises. Its portfolio companies include technology industry leaders such as Ameritrade, Business Objects, Flextronics, Gartner, Network General, Seagate Technology, SunGard, Thomson and UGS http://www.silverlake.com/, http://www.nasdaq.com/newsroom/news/pr20...05_044.stm
· Glenn Hutchins is Co-Founder and Co-Chief Executive and General Partner of Silver Lake Partners. He co-founded Silver Lake in January 1999 and is based in New York office of the firm. He is also the Managing Member at Silver Lake Technology Management, L.L.C. He is a Director of NASDAQOMX Group, Inc. since February 2007. Mr. Hutchins is currently a Member of the Advisory Council of the Hamilton Project and a Member of the Council on Foreign Relations and the World Economic Forum. Mr. Hutchins is also a Trustee of the Brookings Institution. He is a Director of the Partnership for New York City and a Member of the Investors Advisory Committee on Financial Markets of the Federal Reserve Bank in New York.
Mr. Hutchins is the Chairman of SunGard Corp. He is also a Director at Mercury Payment Systems; Seagate Software (Cayman) Holdings Corporation; New SAC; Clark Refining & Marketing, Inc.; Clark USA, Inc.; American Axle and Manufacturing Holdings, Inc.; American Axle and Manufacturing, Inc.; Corp. Banca (Argentina) S.A.; Corp. Group C.V.; CARE Inc.; and Haynes International Inc.
Mr. Hutchins is a Director of the Harvard Management Company and also the Chairman of the National Advisory Board and the W.E.B. DuBois Institute for African and African American Research at Harvard. He holds a J.D. degree from Harvard Law School, an M.B.A. degree from Harvard Business School, and an A.B. degree from Harvard College.
From 1994 to 1999, Mr. Hutchins was a Senior Managing Director and General Partner at The Blackstone Group, L.P., he focused on its private equity investing; joined the firm in 1994 as a General Partner responsible for investing Blackstone's Merchant Banking II and III, L.P. funds. At the firm, Mr. Hutchins worked as a Senior Member of the transaction teams and also served on its Investment Committee.
NOTE: Jacob Wallenberg and Glenn Hutchins connect to Blackstone. Jacob Wallenberg continues to be on the International Advisory Board. This might explain why Glenn Hutchins/Silver Lake provided additional NASDAQ OMX Shares to Wallenberg's INVESTOR. In addition, it was Blackstone that initially funded the creation of BlackRock, presently the secondary owner of ABB with INVESTOR AB.
http://www.blackstone.com/cps/rde/xchg/b...enberg.htm
Blackstone? BlackRock? Whoever - Real Time Economics - WSJ
http://blogs.wsj.com/economics/2008/04/0...k-whoever/
From 1988 to 1994, he was the Managing Director at Thomas H. Lee Company. Mr. Hutchins joined the firm in 1985 as a Vice President, assisting the firm in the execution of transactions and providing support in the monitoring of portfolio companies and the realization of investments. Mr. Hutchins was a Special Advisor to the Clinton-Gore transition and in the White House during parts of 1992, 1993, and 1994 on economic and healthcare policy. After leaving government, he was appointed by President Clinton to chair an initiative on privatization in the former Soviet Union and by Secretary Robert Rubin to serve on the Treasury Department's Advisory Committee on Financial Services from 1995 to 1996.
Source: BusinessWeek
Business Relations are
http://investing.businessweek.com/busine...=Thisbe+AB
Board Relations are http://investing.businessweek.com/busine...onId=66782
EXHIBIT C
History and Time Line
During the 1980's, INVESTOR establishment of the stock exchange technologies company OM (OMX today). http://www.investorab.com/en/AboutInvest...4_1994.htm
1996: Nasdaq expands the Board of Directors from10 to 15 members for better transparency and public trust
http://www.finra.org/Newsroom/NewsReleases/1996/P010557
1998: Merger between OM and the Stockholm Stock exchange creates OM Group.
http://www.nasdaqomx.com/whoweare/milestones/
http://glossary.reuters.com/index.php/OM_Stockholm
2003: Merger between OM AB and HEX plc creates OM HEX (rebranded OMX in 2004).
https://secure.wikimedia.org/wikipedia/en/wiki/OMX
2005: OMX buys the Copenhagen stock exchange.
https://secure.wikimedia.org/wikipedia/en/wiki/OMX
2006: OMX buys the Iceland stock exchange.
https://secure.wikimedia.org/wikipedia/en/wiki/OMX
March 27th 2006: Per E. Larsson is appointed CEO of DIFX. He was CEO of OMX up to 2003 and had been with the company for 18 years.
http://www.difc.ae/news/difx-appoints-e-...ase-growth
http://www.borsedubai.ae/media21.htm
http://www.arabbankers.org/shared/custom...7360__6121
Larsson's Background can be found on Bloomberg, but it seems to be a bit outdated.
http://investing.businessweek.com/resear...tment+Bank
2007: OMX buys the Armenian stock exchange.
https://secure.wikimedia.org/wikipedia/en/wiki/OMX
May 2007: Rumours concerning Dubai International' s interest in outbidding Nasdaq in the takeover attempt of OMX erupt. Hedge funds start buying into OMX. The Wallenberg family owns around 11% of OMX at this time (through Investor AB) and the swedish government owns 6.6%.
http://www.forbes.com/2007/05/28/nasdaq-...ets04.html
http://www.arabianbusiness.com/borse-dub...57380.html
August 2007: Per E. Larsson is appointed CEO of Borse Dubai. See: http://www.borsedubai.ae/media21.htm
Aug 6th 2007: Borse Dubai is founded to consolidate DFM and DIFX according to a press release from Dubai government. At this time, Borse Dubai owns 100% of the shares from DIFX. http://www.borsedubai.ae/media1.htm
Aug 9th 2007: Borse Dubai announces purchase of 4,9 % of OMX shares and announces an interest in buying 25%. See: http://www.borsedubai.ae/media2.htm and http://www.borsedubai.ae/media3.htm
With this move, it enters the ongoing takeover battle for OMX, in which Nasdaq and Qatar have been major players up to then.
Between Aug 9th and Aug 16th 2007: Hedge funds acquired 27% shares of OMX in expectation of the takeover battle between Nasdaq and Borse Dubai.
http://ftalphaville.ft.com/blog/2007/08/...e-for-omx/
FSA starts an investigation into the aforementioned all cash offer by Borse Dubai for OMX shares to find out whether it breached Swedish laws.
http://www.ft.com/cms/s/0/8adbc3d6-4bd5-...z1H3WRODul
http://www.ft.com/cms/s/0/35f4ddc0-4bd1-...z1H3WRODul
Aug 17th 2007: Borse Dubai launches an all cash offer for OMX shares at SEK 230 and FSA intensifies the investigations.
http://www.borsedubai.ae/media4.htm
http://www.borsedubai.com/offer_document...cument.pdf (offer document)
http://ftalphaville.ft.com/blog/2007/08/...-omx-deal/
With this move, they outbid Nasdaqs offer of SEK 200.
http://ftalphaville.ft.com/blog/2007/08/...omx-fight/
Aug 21st 2007: Borse Dubai answered the FSA questions.
http://www.khaleejtimes.com/DisplayArtic...n=business
Aug 23rd 2007: FSA ruled that Borse Dubai had broken swedish law but decided not to impose a penalty on Borse Dubai, since Borse Dubai issued a supplement to the original offer. The Swedish government, Investor AB and OMX still have some qualms about accepting the offer from Borse Dubai instead of the Nasdaq offer.
http://www.forbes.com/2007/08/20/omx-swe...ets35.html
http://www.forbes.com/2007/08/23/omx-dub...ets24.html
http://www.bi-me.com/main.php?id=12600&t=1&c=34&cg
Aug 23rd 2007: Borse Dubai acknowledges the FSA demands but states it had acted in good faith to be in accordance with swedish laws.
http://www.borsedubai.ae/media5.htm
http://www.borsedubai.ae/media6.htm
http://www.borsedubai.ae/media7.htm
End of August 2007: A criminal investigation is launched by the National Economic Crimes Bureau in Sweden concerning alleged insider trading activities around the OMX deal between May and August 2007, involving the investment bank D. Carnegie.
http://www.thelocal.se/8337/20070830/
http://www.thelocal.se/8349/20070831/
http://www.telegraph.co.uk/finance/marke...r-OMX.html
https://www.nytimes.com/2007/10/05/busin...gewanted=1
Sept 17th 2007: Borse Dubai submits application to permission to acquire shares in OMX.
http://www.borsedubai.ae/media8.htm
Sept 20th 2007: Borse Dubai issues a statement saying they will team up with NASDAQ to take over OMX. http://www.borsedubai.ae/media9.htm
Sept 26th 2007: Borse Dubai press release detailing the agreement with Nasdaq. The all cash offer is raised to SEK 265 per share. At this price, Borse Dubai has managed to secure irrevocable undertakings from Investor AB (publ), Nordea Bank AB (publ), Olof Stenhammar, Didner & Gerge Fonder AB, Nykredit Realkredit A/S and Magnus Böcker (the selling OMX shareholders) and through them Borse Dubai got 18,5 % of OMX in Sept 2007, bringing 47,6% of OMX shares under its control.
http://www.borsedubai.ae/media10.htm
Nov 11th 2007: FSA finally clears the Borse Dubai and Nasdaq takeover and the Nasdaq agreement.
http://gulfnews.com/business/markets/bor...x-1.212199
Nov 15th 2007: The OMX transaction agreement between NASDAQ, Borse Dubai and BD Stockholm AB is signed. Document available below.
http://www.borsedubai.ae/offer_documents...eement.pdf
Jan 4th 2008: Offer supplement for OMX shares at SEK 265.
http://www.borsedubai.com/offer_supplime...lement.pdf (offe...
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"He would, wouldn't he?" Mandy Rice-Davies. When asked in court whether she knew that Lord Astor had denied having sex with her.
“I think it would be a good idea” Ghandi, when asked about Western Civilisation.