Daily Archives: November 12, 2008, 10:09 pm

SEC’s San Francisco Regional Office Files Its Final Options Backdating Case

The SEC filed a settled enforcement action today against Blue Coat Systems, Inc. and its former CFO, Robert P. Verheecke, alleging that they backdated stock option grants to executives and employees and reported false financial information to shareholders.  The case is also notable for being the final options backdating case that the SEC’s San Francisco Regional Office expects to file:…

Read More

Following Hausfeld’s Departure, Firm Changes Name to Cohen, Milstein, Sellers & Toll

Washington, DC-based plaintiffs’ law firm Cohen, Milstein, Hausfeld & Toll is changing its name to Cohen, Milstein, Sellers & Toll following the recent departure of former name partner Michael Hausfeld (discussed here). The Blog of the Legal Times reports that partner Joseph Sellers, who heads the firm’s civil rights and employment practice, will replace Hausfeld as the fourth name partner.…

Read More

Japan: Former Nomura Securities Employee and Friend Plead Guilty to Insider Trading

Li Yu, a former employee of Nomura Securities Co., and his friend Su Chunguang, both Chinese nationals,  pleaded guilty at the Tokyo District Court on Tuesday to charges of insider stock trading.  The Japan Times reports that Li and Su were charged with violating the Financial Instruments and Exchange Law, which prohibits trading in stocks based on insider information.  Although…

Read More