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Join the Securities Litigation and Enforcement Group on LinkedInSecurities Docket News Wire for Dec. 26, 2008
Comprehensive list: Madoff Investor and Feeder Fund Litigation. http://is.gd/dCNE # Prof. Chemerinsky: Claim for Money Damages Against SEC for Madoff Losses Not Viable. http://is.gd/dAkb # Bankruptcy Court Approves SIPC’s Madoff Liquidation Plan Limiting Payouts. http://is.gd/dA0s # Japan: Former Nomura Securities Employee and Friend Receive Suspended Sentenced, Fine in Insider Trading Case. http://is.gd/dxEe # Criminal prosecutions […]
The D&O Diary Creates Running List of Madoff Investor and Feeder Fund Litigation
Q: What’s better than creating and maintaining a running list of all Madoff-related investor and feeder fund lawsuits (which we had on our lengthy to-do list)? A: Having someone else do it! Thank you to Kevin LaCroix of the D&O Diary for introducing today “The List: Madoff Investor and Feeder Fund Litigation,” a table of […]
Web Watch: Best Blog Posts and Columns For the Week Ending Dec. 26
Here is the weekly summary for Securities Docket’s Web Watch (”This Week’s Best Blog Posts and Columns”): THE RACE TO THE BOTTOM (Dec. 24, 2008): Madoff and Stoneridge A potential roadblock in the search for deep pocket defendants in the Madoff case will be Stoneridge. SEC ACTIONS (Dec. 24, 2008): The Commission Gives Definition To […]
Prof. Chemerinsky: Claim for Money Damages Against SEC for Madoff Losses Not Viable
Renowned law professor Erwin Chemerinsky tells Securities Docket that he “does not see a viable suit for money damages against the United States” related to the SEC’s admitted failure to properly handle its probe of Bernard Madoff’s operation. In an exchange today with Securities Docket, Prof. Chemerinsky stated that the United States government (including the […]
Bankruptcy Court Approves SIPC’s Madoff Liquidation Plan Limiting Payouts
On Tuesday, Dec. 23, US Bankruptcy Court Judge Burton Lifland approved a liquidation plan in the Madoff case proposed by the Securities Investor Protection Corp. The NY Post reports that the maximum compensation victims are eligible for under the plan is $500,000 worth of securities, with no more than $100,000 of that $500,000 in the […]
Criminal prosecutions against securities fraud lowest since 1991
The number of federal prosecutions against securities fraud is far lower under the Bush administration, according to new data. Indeed, the NY Times reports that this year, federal officials are on pace to bring the fewest prosecutions for securities fraud since at least 1991, according to data compiled by Syracuse University researchers. According to the […]
Japan: Former Nomura Securities Employee and Friend Receive Suspended Sentenced, Fine in Insider Trading Case
On Thursday, the Tokyo District Court on Thursday convicted a former employee of Nomura Securities Co. and a friend of insider stock trading and sentenced them both to 2 1/2-year prison sentences. The Japan Times reports that the court fined Li Yu, formerly with Nomura, ¥1 million (approximately US$11,000) and fined his codefendant, Su Chunguang, […]