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You are browsing the archive for February 2009.
Former Assent Trader Sentenced to 63 Months in Prison in Insider Trading Prosecution
David Tavdy, a former trader at Assent LLC who pleaded guilty to participating in an insider-trading scheme that resulted in millions of dollars in profits, today received a sentence of more than five years in prison. Reuters reports that Tavdy pleaded guilty to conspiracy and securities fraud a year ago after he admitted to buying [...]
Michael Conley Named SEC Deputy Solicitor in Appellate Group
The SEC announced today that Michael A. Conley has been named Deputy Solicitor in the Appellate Group of the SEC’s Office of the General Counsel. In that role, Mr. Conley will help oversee the Commission’s appellate and amicus curiae litigation, and will work under Jacob Stillman, the SEC’s Solicitor. Mr. Conley previously held the position [...]
SDNY Denies Moody’s Motion to Dismiss Securities Class Action
On Monday, Judge Shirley Wohl Kram of the U.S. District Court for the SDNY denied Moody’s motion to dismiss a securities class action filed against the company. Reuters reports that the case accuses the company and CEO Raymond McDaniel of making false and misleading statements in order to artificially bolster Moody’s stock price, and of [...]
Webcast Today, 2PM EST: Liability of Professionals in the Financial Crisis
Today, February 24, 2009, at 2:00 pm EST, Securities Docket will host a webcast entitled, “Liability of Professionals in the Financial Crisis” featuring two of the top lawyers in the securities litigation field. Stuart Grant of Grant & Eisenhofer P.A. and Michael Young of Willkie Farr & Gallagher LLP will addresses critical questions now arising [...]
Securities Docket News Wire for Feb. 23, 2009
Securities class action lawsuit filed against American Express Co. in the United States District Court for the SDNY. http://is.gd/kzEK # Soros Sees No Bottom For World Financial ‘Collapse’. http://is.gd/kzsA # New York Magazine: Bernard Madoff, “The Monster Mensch” http://is.gd/kzs6 #
UK: First Insider Trading Trial in Four Years Underway in Southwark
The UK’s first insider trading trial in four years began today in Southwark Crown Court as prosecutors pressed forward with their case against Euan Carlisle. Carlisle, a former director of restaurant group Belgo, is alleged to have used confidential information passed to him by a senior employee of Belgo to buy shares ahead of two [...]
New York Magazine: Bernard Madoff, “The Monster Mensch”
New York Magazine has an in-depth analysis of Bernard Madoff in this month’s cover story, “The Monster Mensch.” The article by Steve Fishman examines Madoff’s rise and recent fall, and analyzes his relationship with Ezra Merkin. It also addresses some of the quirks of Madoff’s personality, such as an obsessive dislike of curves: If investors [...]
William Burck Joins Weil, Gotshal in D.C.
William A. Burck has joined law firm Weil, Gotshal & Manges as a partner in its Washington, D.C. office. The firm announced today that Burck has joined the firm’s Investigations and Criminal Defense Practice. Burck is a former Deputy Counsel to the President and a former federal prosecutor in the United States Attorney’s Office for [...]
Counsel for Stanford Financial Withdrew Following SEC Testimony of Executive
Additional details have emerged on the chain of events that led to counsel for the Stanford Financial Group withdrawing from representing the company and disaffirming all prior statements made to the SEC regarding his former client. The Memphis Daily News reports that on Tuesday, February 10, five representatives of the SEC took the testimony of [...]