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You are browsing the archive for February 2009.
Israel: Israel Securities Authority Arrests Investment Bank CEO on Insider Trading Charges
On Tuesday, the Israel Securities Authority arrested Nir Burnstein, CEO of Poalim Capital Markets, on “suspicions of a major insider trading scheme.” Poalim Capital Markets is the investment branch of Israel’s Bank Hapoalim. The Jerusalem Post reports that Burnstein allegedly warned stockbroker Ofer Izenberg, of expected losses to Bank Hapoalim due to the global economic [...]
Several Banks Offer Compensation to Madoff Investors
Several banks involved in the Madoff scandal have offered forms of compensation to investors. As previously discussed here, Spanish bank Santander offered to repay victims in the alleged Madoff fraud to avoid lawsuits. Other banks, however, have also made offers. FT reports that these banks include: Celfin Capital, a mid-sized investment bank in Chile, which [...]
Attorney for Stanford’s “Disaffirmation” of Prior Statements Was Red Flag for SEC
The SEC announced yesterday that it has charged Robert Allen Stanford and three of his companies for orchestrating a fraudulent, multi-billion dollar investment scheme centering on an $8 billion CD program. News reports today indicate that the actions of a Stanford attorney who disaffirmed prior statements to the SEC about Stanford played a part in [...]
Securities Docket News Wire for Feb. 17, 2009
Philadelphia-Area Pension Fund Becomes First to File Securities Class Action for Madoff Losses. http://tinyurl.com/c4j8zf # New Website Attempts to Project Share Price, Settlement Amount, Legal Fees and More for Securities Defendants. http://tinyurl.com/crnet3 # “Web 2.0? Webcast: Archived Version, Presentation Slides and Other Key Materials. http://is.gd/jSQs # Lawyers from 21 Countries Join to Form “Madoff Case [...]
Former AG Michael Mukasey to Join Debevoise & Plimpton in New York
Michael B. Mukasey, former Attorney General of the United States and Chief Judge of the U.S. District Court for the Southern District of New York, will join Debevoise & Plimpton as a partner in its New York office later this month. The firm announced today that Judge Mukasey will join the firm’s Litigation Department, and [...]
Lawyers from 21 Countries Join to Form “Madoff Case Global Alliance of Law Firms”
Lawyers from 21 countries, including the United States, UK, France, Mexico, Uruguay, Switzerland, Italy, France, Argentina, Chile, Panama, Israel, German, Lithuania, Colombia, Brazil, Austria, Ecuador, Luxembourg, Malta, and Portugal have joined together in a world alliance representing investors who lost out in the alleged $50 billion fraud by Bernard Madoff.
“Web 2.0″ Webcast: Archived Version, Presentation Slides and Other Key Materials
The archived copy of today’s webcast, presentation slides, videos and additional materials from the February 17 webcast “Web 2.0 – Leveraging New Media to Maximize Your Securities & Compliance Practice” are available here.
Today’s “Web 2.0″ Webcast Materials: Presentation Slides, Videos, and More
Slides, videos and additional materials for today’s webcast (2 pm EST:”Web 2.0 – Leveraging New Media to Maximize Your Securities & Compliance Practice)” are available here.
New Website Attempts to Project Share Price, Settlement Amount, Legal Fees and More for Securities Class Action Defendants
On the theory that the filing of securities class actions creates trading opportunities, a new website called “SCAEstimate.com” uses a database of 1000 past securities class action cases to provide reports on companies which have a securities lawsuit filed against them. The reports assess the odds on the company’s future share price and the cost [...]
Philadelphia-Area Pension Fund Becomes First to File Class Action for Madoff Losses
UPDATE: This article has been updated to correct the nature of the lawsuit filed by the pension fund. The lawsuit is an ERISA action that asserts a claim for breach of fiduciary duty, not a securities class action. A copy of the complaint is available here. Pension Fund for Hospital and Health Care Employees-Philadelphia and [...]