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You are browsing the archive for July 2009.
Securities Docket A.M. News Wire for July 16, 2009
Ex-Fund Manager Samuel Israel III Has 2 Years Added to Sentence for Fleeing; Madoff ex-accountant Friehling takes step toward resolving case; Australia: Investigation of possible insider trading in Alliance Resources shares before govt. approved uranium mine. US to unveil hedge fund legislation; SEC Charges 11 Individuals for Insider Trading Ahead of Merger Announcements; Calpers Sues Three Leading Credit Agencies Claiming Losses Caused by “Wildly Inaccurate” Ratings; SEC Issues Wells Notice to Morgan Keegan & Co.; Victims of Stanford fraud to be heard; and more.
Calpers Sues Three Leading Credit Agencies Claiming Losses Caused by “Wildly Inaccurate” Ratings
California Public Employees Retirement System, the nation’s largest public pension fund, has filed a lawsuit in state court in California alleging that it suffered $1 billion in losses caused by “wildly inaccurate” credit ratings from the three leading ratings agencies. The NY Times reports that the lawsuit focuses “on a form of debt called structured [...]
SEC Issues Wells Notice to Morgan Keegan & Co.
In a Form 8-K filed today by Regions Financial, the company announced that on July 9, 2009, its wholly-owned subsidiary, Morgan Keegan & Company, Inc., received a “Wells” notice from the Staff of the Atlanta Regional Office of the SEC. Regions Financial disclosed that the SEC staff intends to recommend that the Commission bring enforcement [...]
The List (v. 2.0): Blogs, Websites and Other Feeds Included in the Securities Litigation and Enforcement Group News Feed
As members of the Securities Docket Securities Litigation and Enforcement Group on LinkedIn.com know, the group has a very useful news feed that is essentially a firehose of information from 30 select blogs and other sources about securities litigation and SEC enforcement. LinkedIn limits the number of sources to 30, which encourages the exercise of [...]
SDNY’s Bill Johnson to Join Fried Frank
Bill Johnson, Chief of the Securities and Commodities Fraud Unit at the SDNY, will be joining law firm Fried Frank. The WSJ Law Blog reports that Fried Frank has confirmed the hire, but it remains unclear when Johnson is expected to start. Johnson became chief of the unit about two years ago. Prior to joining [...]
Securities Docket A.M. News Wire for July 15, 2009
Top rating agencies Moody’s, Standard & Poor’s and Fitch to be sued by pension giant Calpers. http://bit.ly/YqDQM # James Sanders Joins Reed Smith LLP in Century City. http://bit.ly/129MCs # Ex-Bear Stearns Manager Cioffi Loses Bid to Dismiss Charge. http://bit.ly/o4oHC # A Path for Lehman Clients to Get Assets Back. http://bit.ly/1cMlo5 # Chief of Securities Fraud [...]
James Sanders Joins Reed Smith LLP in Century City
James L. Sanders has joined law firm Reed Smith LLP as a partner in its Century City office. The firm announced yesterday that Sanders has joined its Global Regulatory and Enforcement Group of its Litigation Department. His practice focuses on securities litigation, white-collar criminal defense, and the representation of corporations and individuals in investigations by [...]
Answering Lingering Questions In the Wake of the Madoff Sentence
On June 29, federal judge Denny Chin handed down the sentence heard ’round the world: 150 years in prison for Ponzi schemer Bernard Madoff. In many ways, particularly with respect to Madoff himself, the 150-year sentence provides closure to the saga that has dominated the financial news since his arrest eight months ago. There are, however, many questions that linger.
Welcome to Our New Sponsor: Daylight Forensic & Advisory
Securities Docket is pleased to welcome a new sponsor: Daylight Forensic & Advisory. Daylight Forensic & Advisory is an international regulatory consulting and investigative firm, specializing in matters relating to anti-money laundering, bribery and corruption, including FCPA, financial investigations and forensic accounting, fraud risk management, investigative due diligence and e-discovery and computer investigations.
The Fateful February 4 Madoff Hearing
Today’s House Financial Services Committee hearing (“SEC Oversight: Current State and Agenda“) featured prepared testimony by SEC Chairman Mary Schapiro, as well as a lengthy question and answer session. Among the most interesting parts was a statement by Rep. Gary Ackerman of New York, who complimented Mary Schapiro for her accountability. He said words to [...]