Jan. 27 Webcast Materials
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You are browsing the archive for May 2009.
Fourth Circuit Reverses Dismissal of Securities Class Action Against Janus Capital Group
On May 7, 2009, the U.S. Court of Appeals for the Fourth Circuit reversed a lower court ruling dismissing a securities class action against Janus Capital Group. The Fourth Circuit held that plaintiffs’ claim against a subsidiary, Janus Capital Management, for violation of section 10(b) of the Exchange Act had been adequately pled, as was [...]
Madoff Trustee Files Latest in Series of Lawsuits Seeking Return of Billions
The trustee overseeing the liquidation of Bernard L. Madoff Investment Securities brought a third lawsuit yesterday demanding the return of huge sums from investors that had extensive relationships with Madoff. The NYLJ reports that trustee Irving H. Picard (pictured) brought a $1.1 billion complaint on Tuesday against Harley International Ltd. claiming the firm “knew or [...]
Securities Docket A.M. News Wire for May 13, 2009
Sun Microsystems warns of possible FCPA violations, GM shares fall to a 76-year low, Stanford CIO Indicted on Two Counts, and more.
John Beisner, Stephen Harburg and Jessica Davidson Miller Join Skadden in D.C.
John Beisner, Stephen Harburg and Jessica Davidson Miller have joined law firm Skadden, Arps, Slate, Meagher & Flom LLP as partners in its Washington, D.C. office. The three new partners join Skadden from O’Melveny & Myers LLP, where Beisner (pictured) chaired the Class Actions, Mass Torts and Aggregated Litigation Practice Group. Together, they have represented [...]
Stanford CIO Pendergest-Holt Indicted on Two Counts
A federal grand jury has indicted Laura Pendergest-Holt, the Stanford Financial Group’s chief investment officer, on two felony counts: one count of conspiracy to obstruct an agency investigation and one count of obstruction. CNBC’s Scott Cohn reports that the indictment alleges that Pendergest-Holt hid details of Stanford Financial’s holdings from investigators, including a $1.6 billion loan [...]
Sen. Schumer Continues to Press for SEC Move from DC to NY
Back in January, Sen. Charles Schumer of New York commented that he believed it made sense to physically move the staff of the SEC’s Office of Compliance, Inspections and Examinations (OCIE) from Washington, DC to New York. Last week, he stated that not just OCIE, not just the Enforcement Division, but the entire SEC should [...]
Gary Lynch Named Vice Chairman of Morgan Stanley
Gary G. Lynch has been named Vice Chairman of Morgan Stanley. The firm announced today that Lynch will relocate to London, where he will remain in his current position as Chief Legal Officer and continue to work as part of the Firm’s senior management on issues of policy and strategy. He will also join the [...]
May 27 Webcast — Calling off an M&A Deal: Legal and Damage Ramifications
In the current economic climate of declining revenue, falling profits, and disappearing credit, the parties to many merger and acquisition agreements are not consummating the deal. This webcast will address issues that Buyers, Sellers, and Lenders face in transaction termination scenarios. The webcast will cover essential legal considerations relating to merger and acquisition contract terms, [...]
Dreier Pleads Guilty, Remains Under (Pent)house Arrest Pending Sentencing
In federal court in Manhattan yesterday, attorney Marc Dreier pleaded guilty to charges that he carried out an outrageous fraud scheme that defrauded hedge funds and other investors out of at least $400 million. The NYT reports that according to prosecutors, Dreier, a graduate of Yale University and Harvard Law School, sold $700 million worth [...]
Securities Docket A.M. News Wire for May 12, 2009
CNBC Video: The Curious Case of R. Allen Stanford. http://bit.ly/LLGTw # Labaton Sucharow Appointed Lead Counsel in Colonial BancGroup Case. http://bit.ly/sGrKY # SEC Brings Its First Action for Proxy Voting Violation. http://bit.ly/14093h # US pension funds leading class action against the Royal Bank of Scotland seek OK to include EU schemes in RBS suit. http://bit.ly/YNX5H [...]