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Securities Docket News Wire for Dec. 19, 2008

By on December 19, 2008, 11:59 pm

  • Securities litigation data from NY federal courts shows Madoff plaintiffs may have long wait. http://is.gd/cAJt #
  • Distribution of $5 billion of the $7 billion in Enron settlement funds begins today. http://is.gd/czWF #
  • Fed. court orders Madoff to provide verified accounting of all assets, liabilities and property by year end to SEC. http://is.gd/czna #
  • NY Supreme Court: Mel Weiss “automatically disbarred,” name struck from roll of NY attorneys. http://is.gd/cxHi #
  • Report: Madoff fraud goes back to 1970s, with 4,000 customers. http://is.gd/cxxd #
  • Credit Suisse execs livid over co.’s decision to pay their bonuses in toxic debt. http://is.gd/cxj6 #
  • Law firm Greenberg Traurig establishes “Madoff advisory team.” http://is.gd/cxex #
  • Prof. John Coffee: Doesn’t anticipate any Madoff-related financial recovery to top $20 million. “Not enough assets left.” http://is.gd/cxbM #
  • B/Ds notified by DOJ, SEC that they are targets of investigations/potential defendants for bid-rigging in munic. derivs. http://is.gd/cx1Y #
  • Findings and additional comments from the authors of NERA’s “2008 Trends in Securities Class Actions” report. http://is.gd/cw7l #
  • Detailed list of Madoff victims, amounts and comments from the WSJ. http://tinyurl.com/6xxycc #
  • UK’s FSA fines two investors for insider trading. http://is.gd/cvk0 #
  • PwC, KPMG, Ernst & Young, and an arm of BDO International all drawn into Madoff scandal. http://is.gd/cuRg #
  • France’s AMF retracts claim no ordinary investors hurt, admits 8% of French mut. funds exposed to Madoff sold to public. http://is.gd/cuO3 #
  • Lazard Freres hired by Madoff trustee to help sell the trading operations of Madoff’s company. http://is.gd/cuNJ #
  • Court approves $900 million-plus settlement in UnitedHealth class action over options backdating. http://is.gd/cuFa #
  • New York Court Affirms D&O Coverage for Derivative Claims and Requires Advancement of Defense Costs. http://is.gd/cuBu #
  • Associate at law firm Paul Hastings among 4 people charged criminally Thursday in a $4.8 million insider trading scheme. http://is.gd/csnk #

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