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You are browsing the archive for April 2009.
TRO Requests, Wells Process, FCPA Among Emerging SEC Enforcement Issues
On Tuesday, April 21, 2009, Michael MacPhail of Holland & Hart and Patrick Hunnius of White & Case discussed key issues emerging from the SEC’s Enforcement Division, and the impact of these issues on regulated entities and the lawyers who represent them. MacPhail and Hunnius are both former senior attorneys with the SEC’s Division of Enforcement. A complete summary of their presentations in the Securities Docket webcast entitled, “SEC Enforcement Update: A Wounded Animal is a Dangerous Animal,” is now available.
Germany: Court Dismisses Unusual Shareholder Lawsuit Against Daimler AG
On Wednesday, the Stuttgart Higher Regional Court rejected a lawsuit brought by shareholders seeking 6 million euros ($7.8 million) from Daimler AG for allegedly failing to disclose former Chief Executive Officer Juergen Schrempp’s 2005 decision to resign in a timely fashion. Bloomberg reports that the shareholders claimed that Schrempp decided in May 2005 to leave [...]
California AG Sues Wells Fargo for $1.5 Billion Over ARS Sales
The state of California sued Wells Fargo yesterday alleging that the bank misled investors about the safety and liquidity of the auction-rate securities that it sold. DealBook reports that the lawsuit seeks $1.5 billion from Wells Fargo. In a statement yesterday, Attorney General Jerry Brown (pictured) said that “Wells Fargo’s affiliates promised investors auction-rate securities [...]
Thank You to Our Sponsors: Alvarez & Marsal and BDO Consulting
Thank you to Securities Docket website sponsors Alvarez & Marsal and BDO Consulting. Interested in becoming a Securities Docket sponsor? Click here. For 25 years, Alvarez & Marsal has set the standard for working with organizations to tackle complex issues, boost performance and maximize value for stakeholders. Alvarez & Marsal Dispute Analysis & Forensic Services [...]
Securities Docket News Wire for April 23, 2009
India’s CBI: Auditors Aware of Satyam Misstatements. http://bit.ly/12rn7B #sdx # Lanny Breuer Confirmed as Head of DOJ Criminal Division. http://bit.ly/WU1dV #sdx # New Charges in Dreier Case as Hearing Airs Forfeiture Issues. http://bit.ly/19vhGd #sdx # Jury Finds Six Defendants Guilty of Conspiring in “Squawk Box” Case. http://bit.ly/cH21Z #sdx # Alierta Insider Trading Trial Adjourns, Judge [...]
What Questions Do You Have for the SEC’s Division of Enforcement?
George Curtis, the Deputy Director of the SEC’s Division of Enforcement, will join us on April 28, 2009, for a webcast entitled “Inside the SEC Enforcement Division: Current and Former SEC and DOJ Prosecutors Discuss Important Changes Ahead.” Sponsored by KPMG Forensic and also featuring Pamela Parizek of KPMG Forensic and David Seide of the law firm Curtis, Mallet-Prevost, Colt & Mosle, the webcast provides a rare opportunity to pose questions to one of the Enforcement Division’s most senior officials, and learn about actions being taken by the Enforcement Division’s new leadership right now to address the financial crisis and the intense scrutiny of its recent performance.
U.S. Attorney Michael Sullivan Joins Ashcroft Law Firm in Boston
When Michael J. Sullivan, the United States Attorney for the District of Massachusetts, announced in mid-April that he planned to resign his post to pursue a private law practice in Boston, he didn’t identify his new destination. The WSJ reports today, however, that Sullivan, like three other U.S. Attorneys (discussed here), will join the new [...]
Jury Finds Six Defendants Guilty of Conspiring in “Squawk Box” Case
The jury in the long-running “squawk box” prosecution returned a verdict of guilty on a charge of conspiracy yesterday for three former brokers and three former day traders. The defendants, who were from Merrill Lynch, Citigroup, and Lehman Brothers, allegedly conspired to misuse information from company squawk boxes for insider trading. Reuters reports that the [...]
Gregory Little and Scott Hershman Join White & Case in New York
Gregory Little (pictured) and Scott Hershman have joined law firm White & Case as partners in its New York office. The firm announced yesterday that Little and Hershman have joined its Commercial Litigation Practice. Before joining White & Case, Little and Hershman were both partners at Hunton & Williams, where Little was head of the [...]
Securities Docket News Wire for April 22, 2009
N.Y. Comptroller Bans Placement Agents for State Pension Fund. http://bit.ly/hpsZx #sdx # Senators Propose Additional $20mn for SEC Enforcement. http://bit.ly/qZolH #sdx # Former U.S. Attorneys Johnny Sutton and John Ratcliffe Join New Ashcroft Law Firm. http://bit.ly/17jOQE #sdx # Former GC of Peregrine Systems Sentenced to One Day in Custody, 6 Months Home Detention for Role [...]