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You are browsing the archive for April 2009.
Report: New York and SEC Investigating Payments by Carlyle Group and Others to Pension Fund Placement Agents
New York State prosecutors and the SEC are reportedly investigating whether the Carlyle Group made improper payments in exchange for investments from New York’s state pension fund. The NY Times reports that the inquiry focuses on the “widespread practice” among hedge funds and private equity firms of paying placement agents to gain business managing the [...]
Tenth Circuit Denies Nacchio’s Request to Remain Free on Bail, Orders Him to Report to Prison Today
The U.S. Court of Appeals for the Tenth Circuit ruled yesterday that Joseph Nacchio, the former CEO of Qwest Communications International Inc., must report to prison today to begin serving a six-year sentence for insider trading. Bloomberg reports that the Tenth Circuit rejected Nacchio’s request to remain free on bail while seeking a review of [...]
Criminal Insider Trading Trial of Telefonica SA Chairman Cesar Alierta Begins Today
In Madrid, the trial of Telefonica SA Chairman Cesar Alierta begins today on criminal charges that he illegaly traded shares of tobacco company Tabacalera SA in 1997 and 1998. Bloomberg reports that Spanish prosecutors are seeking a jail term of 4 1/2 years for Alierta. The case was dismissed in 2005 but reinstated after a [...]
Meredith Cross Returns to SEC as New Director of Corporation Finance
The SEC announced yesterday that former SEC official Meredith B. Cross will return to the agency as its new Director of the Division of Corporation Finance. Cross returns to the SEC from the Washington D.C. office of law firm WilmerHale, where she is currently a partner in the Corporate Practice Group. Cross previously worked at [...]
May 8 Webcast — Hedge Funds: A Brave New World of Regulation and Enforcement
As Washington continues working to stem the tide of our Wall Street woes, it will soon turn to legislation aimed at the most sophisticated segment of the asset management world: the hedge fund community. Thanks to Bernie Madoff, Marc Dreier and other pretenders, it may now also be the most suspect and misunderstood. What will [...]
Securities Docket News Wire for April 13, 2009
Judge Carney’s Broadcom Ruling Grabs Attention of White Collar Bar. http://bit.ly/2ONSpH #sdx # Former SEC Enforcement Director Linda Thomsen Rejoins Davis Polk & Wardwell. http://bit.ly/u097 #sdx # India: “Study gives stunning details of corporate frauds” http://bit.ly/qUXQ #sdx # Law of the land gives breathing space to Rajus. http://bit.ly/2c3qOI #sdx #
FOX Business Video: Madoff Family Members Go to Jail School
Fox Business reports in this video that Madoff family members have recently met with “prison consultants” on how to survive in prison.
Glenn Colton Joins Sonnenschein Nath & Rosenthal in New York
Glenn C. Colton has joined law firm Sonnenschein Nath & Rosenthal LLP as a partner in its New York office. The firm announced today that Colton, a former assistant U.S. attorney for the Southern District of New York, has joined the firm’s Litigation Practice and will be co-chair of its White-Collar and Government Investigations Practice. [...]
Judge Carney’s Broadcom Ruling Grabs Attention of White Collar Bar
A ruling earlier this month by U.S. District Judge Cormac Carney has sparked discussion and debate in the white collar bar on the subject of the level of detail required when lawyers warn a company’s employees in internal company investigations that they represent the company, not the employee. The WSJ reports that Judge Carney dismissed [...]
Former SEC Enforcement Director Linda Thomsen Rejoins Davis Polk & Wardwell
Linda Chatman Thomsen, former Director of the SEC’s Division of Enforcement, has rejoined law firm Davis Polk & Wardwell as a partner in its D.C. office. The WSJ reports that Thomsen, who worked at Davis Polk in New York before joining the government, has joined the firm’s white-collar defense group. Thomsen left the SEC [...]