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Web Watch: Best of the Week Ending February 10
The week’s most interesting columns and blog posts from around the web.
Diamond Foods: Is Miss. pension fund a professional plaintiff?–On the Case
… MissPERS’s lawyers told U.S. District Judge William Alsup that he can be sure the fund will do a good job on behalf of all Diamond shareholders because MissPERS has plenty of experience as a lead plaintiff. The New England fund contends that’s exactly why Mississippi shouldn’t get the appointment in the Diamond case. In [...]
Median SEC Settlement Values Jump in FY 2011 – Compliance Week
Median settlement values in SEC cases against companies nearly doubled in FY 2011, and jumped 35% in cases against individuals according to NERA. via Median SEC Settlement Values Jump in FY 2011 – Compliance Week.
Judge to have say in SIPC’s role in Stanford claims–Reuters
A federal judge said he has the authority to decide whether the U.S. Securities & Exchange Commission can compel a brokerage industry protection fund to let thousands of victims of Allen Stanford’s alleged Ponzi scheme file claims for compensation. The SEC’s effort to force the Securities Investor Protection Corp to initiate a claims procedure for Stanford’s [...]
Broken budget process hurts Wall Street reform–CNN Money
“You have the SEC begging for more money, a lot more money, and only receiving a little more,” said Bruce Carton, a former attorney with the SEC’s Division of Enforcement who now edits a website called Securities Docket. “This is where they find themselves every year.” via Broken budget process hurts Wall Street reform–CNN Money.
With the STOCK Act Imminent, Investigators Probe One Congressman\’s Trades – Compliance Week
An independent investigative agency in Washington, DC called the Office of Congressional Ethics has launched an investigation that shows that the issue of insider trading by Congress may not be merely academic. via With the STOCK Act Imminent, Investigators Probe One Congressman\’s Trades – Compliance Week.
Mark Cuban Faces SEC Deposition Today in Insider Trading Probe – Businessweek
Cuban has been fighting for more than three years against SEC claims that he traded on confidential information when he sold his stake in Mamma.com, a Canadian Internet search company now known as Copernic Inc., just before it announced a private placement of shares. He’s scheduled to be deposed by SEC investigators at 9 a.m. [...]
Feb. 29 Webcast: Recent Developments in FCPA and International Anti-Corruption Enforcement and Compliance
PLease join F. Joseph Warin, Benno Schwarz, Michael Diamant and Joseph Spinelli for this free webcast.
Diamond Foods Announces Audit Committee Investigation Findings
Diamond Foods, Inc. today announced that the Audit Committee of its Board of Directors has substantially completed its investigation of the Company’s accounting for certain crop payments to walnut growers. The Audit Committee has concluded that the Company’s financial statements for the fiscal years 2010 and 2011 will need to be restated…. The Audit Committee [...]
Stressed-Out Compliance Officers May Soon Feel Even More Heat From SEC
Stress level of compliance officers may be rising even higher.