French court upholds Soros’ insider trading conviction News
French court upholds Soros’ insider trading conviction

[JURIST] A French appeals court on Thursday affirmed a 2002 conviction of investor George Soros [Wikipedia profile] for insider trading, including a $2.9 million penalty. The court ruled that Soros' 1988 purchase of French bank Societe Generale SA [corporate website] stock with knowledge that the bank might be the object of a takeover bid broke insider trading laws. Soros has maintained his innocence and claimed that the takeover rumors were widely known at the time. Soros' appeal options are now limited to arguing the law was wrongly applied or to appeal to the European Court of Human Rights. Bloomberg has more.

THIS DAY @ LAW

UN General Assembly approves Palestine partition plan

The UN General Assembly approved UN Resolution Resolution 181 (II) on November 29, 1947, recommending that the British Mandate for Palestine be split into a Jewish state, an Arab state, and an international zone for Jerusalem. The vote in the assembly was 33 for to 13 against, with 10 abstentions. The resolution sparked a war between Palestinian Arabs and Jews in 1947 and a wider war after Egypt, Syria, Jordan, Iraq, and Lebanon invaded the new State of Israel in 1948. Read Resolution 181 (II).

UN divided Palestine between Arabs and Jews

On November 29, 1947, the UN General Assembly voted to partition Palestine into Jewish and Arab territories, leading to the establishment of a Jewish state the following year. Read UN General Assembly Resolution 181.

Defense Secretary Robert McNamara resigns during Vietnam Conflict

On November 29, 1967, Secretary of Defense Robert S. McNamara announced that he was resigning from his office to accept an appointment as head of the World Bank. The announcement came as the Vietnam Conflict was becoming increasingly unpopular in the United States and abroad.