Jan. 27 Webcast Materials
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You are browsing the archive for January 2009.
Watch the Senate Banking Committee Hearing on “Madoff Investment Securities Fraud”
The Senate Banking Committee’s hearing on the “Madoff Investment Securities Fraud: Regulatory and Oversight Concerns and the Need for Reform” is underway and can be viewed live at the link in this post.
Securities Docket News Wire for Jan. 26, 2009
SEC’s Linda Thomsen and Lori Richards Among Those Set to Testify in Senate Madoff Hearing Tuesday. http://is.gd/hi8p # NERA Report: Trends in Canadian Securities Class Actions: 1997-2008, Canada Strikes its Own Course. http://is.gd/hi0Q # Madoff clients who made money told to “lay low.” http://is.gd/hhX4 # FINRA Probing U.S. Brokerages That Referred Customers to Madoff. http://is.gd/hhzY [...]
CNBC Video: John Thain Gives His Side of the Story
You’ll need 21 minutes or so to get through it all, but this interesting CNBC video contains Maria Bartiromo’s exclusive interview with former Merrill CEO John Thain, who discusses the Bank of America merger, what Bank of America knew about Merrill’s financial situation, bonus payments, and his culpability in the company’s current financial situation.
SEC’s Linda Thomsen and Lori Richards Among Those Set to Testify in Senate Madoff Hearing Tuesday
Linda Thomsen, the SEC’s Director of Enforcement, and Lori Richards, the SEC’s Director of the Office of Compliance, Inspections and Examinations will testify at a Congressional hearing on Tuesday of this week into Bernard Madoff’s alleged $50 billion fraud, the Senate Banking Committee said on Monday. According to the Senate Banking Committee’s website, the full [...]
Court in Xerox Securities Class Action Settlement Awards $120 Million in Attorneys’ Fees
On January 14, Judge Alvin W. Thompson of the U.S. District Court in Connecticut awarded plaintiffs’ counsel $120 million in attorneys’ fees, plus $3.3 million in costs, in the securities class action settlement in the Xerox case. The Connecticut Law Tribune reports that the award relates to the $750 million settlement that Xerox agreed to [...]
Israel: Elbit Imaging Ltd. Announces Dismissal of Purported Securities Class Action
Elbit Imaging Ltd. announced today that the District Court of Haifa in Israel has dismissed a purported securities class action against the company. The court ruled that the case was “inadequate” to be litigated as a class action. Elbit announced that the case was filed against it in the District Court of Haifa in November [...]
Former U.S. Attorney Chuck Rosenberg Joins Hogan & Hartson in DC
Chuck Rosenberg, former United States Attorney for the Eastern District of Virginia, has joined law firm Hogan & Hartson as a partner in the firm’s Washington, DC office. The firm announced that Rosenberg has joined its litigation practice group and will focus his practice on federal white collar criminal defense, internal investigations, and civil litigation. [...]
Securities Docket News Wire for Jan. 25, 2009
Scotland: QC Calls on Ministers to Allow Class Actions Against Banks. http://is.gd/hdt3 # UK: Litigation Funder Juridica Seeks to Cash in on “Unsophisticated and Relatively Naïve” Litigation Market. http://is.gd/hcpG # Indian police detain PwC staff in Satyam probe. http://is.gd/hbMp # Accountant for hedge funds run by SEC defendant Arthur Nadel has not been licensed in [...]
UK: Litigation Funder Juridica Seeks to Cash in on “Unsophisticated and Relatively Naïve” Litigation Market
A closed ended fund in the UK called Juridica is looking for big returns investing in what it believes to be “an unsophisticated and relatively naïve” litigation market, the FT reports. “Cases are expensive to fund; there should be room for private capital,” says Neil Woodford, head of investment for Invesco Perpetual UK, which has [...]
Guest Column: Betting the Corporation — Compliance or Defiance?
Guest columnists Lawrence D. Finder and Ryan D. McConnell offer highlights of their new article that updates their deferred prosecution agreement and non-prosecution agreement statistics.