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You are browsing the archive for April 2009.
Securities Docket News Wire for April 12, 2009
In prison, just another Joe (Nacchio). http://is.gd/s2LK #sdx # Mutual fund industry likely to face wave of suits over risk disclosure. http://is.gd/s2L7 #sdx # Australia: Court Rules Shareholders May Examine Directors’ Insurance Policies. http://is.gd/s2Jr #sdx #
Michael Gass Joins Choate Hall & Stewart LLP in Boston
Michael Gass has joined law firm Choate Hall & Stewart LLP as a partner in its Boston office. The firm announced last month that Gass has joined its Securities Litigation practice. Gass was previously a partner at Edwards, Angell, Palmer & Dodge, where he served as chair of that firm’s Securities, Government Enforcement and Corporate [...]
Securities Docket News Wire for April 10, 2009
Madoff Feeder Fees Took in Over $790 Million in Fees. http://tinyurl.com/cmdxgq=testMod #sdx # SEC Voluntarily Dismisses All Claims Against Former General Counsel of McAfee Inc. http://is.gd/rPQz #sdx # SEC’s tough new cop seen helping agency’s image. http://is.gd/rPLI #sdx # Web Watch: Best Blog Posts and Columns For the Week Ending April 10. http://is.gd/rPEg #sdx # [...]
Web Watch: Best Blog Posts and Columns For the Week Ending April 10
Here is the weekly summary for Securities Docket’s Web Watch (”This Week’s Best Blog Posts and Columns”): PHILIP S. KHINDA, JEFFREY E. MCFADDEN AND MICHAEL C. MILLER, NYLJ (April 10, 2009): The Nuances of Securities Reform The required change does not need to come at the end of a sledge hammer. Effective securities reform can [...]
April 21 Webcast — SEC Enforcement Update: A Wounded Animal is a Dangerous Animal
In a sharp detour from the era of Chairman Christopher Cox, the SEC under new Chairman Mary Shapiro’s leadership has obtained big budget increases that will be used to increase the number of enforcement lawyers. It has also empowered its staff by streamlining procedures relating to the issuance of formal orders of investigation and negotiating [...]
Turkey: Police Discover Unusual Written “Manipulation Protocol” Signed by Four Suspects
We’re really not sure what to even say about this bizarre story out of Istanbul, Turkey other than this: If you and three others are going to conspire to manipulate stock prices, the four of you should NOT sign a written “manipulation protocol” among yourselves stating that a stock manipulated by one member cannot be [...]
Australia: Opponents of “Sons of Gwalia” Shareholder Decision Seek Legislative Fix
As previously discussed here, a key development that has spurred the recent rise of securities class actions in Australia is the High Court’s 2007 decision in Sons of Gwalia v Margaretic. In that case, the court overturned the convention that shareholders rank behind creditors in an insolvency, and ruled that “a shareholder in a failed [...]
Reviewing the “Restacking”
Remember the “Restacking Project,” the poorly-timed, $4 million reshuffling of offices for nearly all of the 2,000-plus employees at the SEC’s 3-year-old DC headquarters that has now been going on for many months? As previously discussed here, the Restacking Project already has its own newsletter (the “Restacker”), hotline number, help desk in Room 3465, and an e-mail address to handle computer or communications problems.
Now the Restacking Project has its own, critical 56-page Inspector General report, as well.
Securities Docket News Wire for April 9, 2009
SEC: Moving Deck Chairs on the Titanic? http://tinyurl.com/dgswkc #sdx # U.K. Litigation Financing Firm Raises Additional $50 Million, Now Has $100 Million to Invest in U.S. Cases. http://is.gd/rHaM #sdx # Madoff trustee seeks $150 million `clawback’ from Banque Jacob Safra (Gibraltar). http://www.google.com/hostednews/ap/article/ALeqM5hnkP … # Here Come the Sun Lawsuits. http://tinyurl.com/dk5tmx #sdx # Satyam Attacks Pension [...]
Thomas Russo Joins Patton Boggs in New York
Thomas Russo has joined law firm Patton Boggs as senior counsel in its New York office. The firm announced today that Russo, the former vice chairman of Lehman Brothers Inc. and chief legal officer of Lehman Brothers Holdings., will focus his practice on helping clients address the numerous regulatory changes that are expected from executive [...]