‘Enforcement 40′ for 2017
Our Sponsors
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedInIndustry
Morgan Stanley confirms to acquire ETrade in $13 billion all-stock deal – MarketWatch
Morgan Stanley MS, -3.32% confirmed Thursday that is acquiring E*Trade Financial Corp. ETFC, +25.06% in an all-stock deal valued at $13 billion. Morgan Stanley will pay 1.0432 of its shares for each E*Trade share, equal to $58.74 based on its closing price Feb. 19. The deal “will significantly increase the scale and breadth of Morgan […]
London hedge funds’ websites cloned as scammers grow bolder and more ubiquitous – Reuters
Some of London’s top hedge funds and asset managers are among those that have been targeted by rogue internet operators who clone their names and websites in an attempt to part unsuspecting investors from their cash. via London hedge funds’ websites cloned as scammers grow bolder and more ubiquitous – Reuters.
David Ruder, SEC chair during 1987 crash, dies at 90 – BNN Bloomberg
David Ruder, a former chairman of the U.S. Securities and Exchange Commission whose off-the-cuff comments may have fanned panic selling on what became known as Black Monday, has died. He was 90. He died on Feb. 15, according to Northwestern University, where he served as dean of the law school from 1977 to 1985. No […]
Trump Administration Would Shift Audit Watchdog Role to SEC
The White House would transfer the authority of the Public Company Accounting Oversight Board to the SEC by 2022 in order to eliminate duplication between the two regulators and “reduce regulatory ambiguity,” it said in the budget released Monday. The administration estimates eliminating the board would save an estimated $580 million over nine years. Public […]
Ernst & Young Won a Multimillion-Dollar Audit Spot. Investigators Want to Know Why. – WSJ
A rare criminal investigation into corporate auditing is focused on allegations that bid-rigging helped Ernst & Young LLP win a competition run by Sealed Air Corp., according to people close to the probe. The scrutiny highlights the close ties that often exist between corporate executives and the Big Four audit firms. William Stiehl and Carol […]
Airbus pays $4 billion to settle global bribery and trade offenses | The FCPA Blog
Airbus SE paid $4 billion (€3.6 billion) to settle global bribery and trade charges with French, UK, and U.S. authorities Friday after an eight-year investigation triggered by a British whistleblower. Airbus paid French national prosecutor Parquet National Financier (PNF) about €2.1 billion ($2.3 billion). It’s the biggest anti-bribery enforcement action by French authorities. via Airbus […]
Companies Fixing More Errors by Revisions Than Restatements
Companies have increasingly corrected accounting mistakes through revisions as the volume of restatements plummeted over the past decade. The informal corrections allow companies to avoid the fanfare of a full restatement with the requisite press releases and SEC filings—possibly masking a broader problem for investors. One study found that almost half of revisions had an […]
Elizabeth Holmes Phones In Her Defense After Civil Lawyers Quit
Unable to pay her lawyers in an Arizona fraud lawsuit, Elizabeth Holmes is defending herself by … phone. The former chief executive of Theranos Inc., who lives in California, appears regularly in San Jose federal court with a team of high-caliber lawyers as her criminal case over the blood-testing startup’s implosion moves toward a trial […]
Spencer Dinwiddie Launching Digital Token Next Week, Discusses NBA’s Threat To Terminate His Contract
After nearly three months of delays, including a threat from the NBA to ban him from the league during negotiations, Brooklyn Nets point guard Spencer Dinwiddie plans to launch his token-based investment vehicle on Monday in conjunction with a bid to get selected to his first career All-Star Game. I reported in October that the […]
The Top Ten D&O Stories of 2019 | The D&O Diary
The liability environment for directors and officers is always in a state of change, but 2019 was a particularly eventful year in the D&O liability arena, with important consequences for the D&O insurance marketplace. The past year’s many developments have significant implications for what may lie ahead in 2020 – and possibly for years to […]