‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSecurities Docket News Wire for Jan. 14, 2009
SEC Commissioner Aguilar’s Prescription for an Ailing Enforcement Division. http://is.gd/fUFs # Free Securities Docket webcast on Madoff litigation today at 2 PM EST. Please sign up here: http://is.gd/ehxC # SEC Settles Insider Trading Case Against Former GC of Amkor Technology. http://is.gd/fQI2 # Report: SEC Sues Blackstone Managing Director for Insider Trading Scheme. http://is.gd/fQHr # Canada: […]
SEC Commissioner Aguilar’s Prescription for an Ailing Enforcement Division
On January 10, 2009, SEC Commissioner Luis A. Aguilar delivered an interesting speech entitled, “Empowering the Markets Watchdog to Effect Real Results” in which he presented some specific “internal shifts in policy” that he would like to see made immediately to boost the SEC’s ailing Enforcement Division.
Materials From Today’s Madoff Litigation Webcast
Dr. Fred Dunbar of NERA Economic Consulting’s PowerPoint presentation for today’s webcast about the Madoff litigation is available in PDF form here.
Last Call to Pre-Submit Questions for Today’s Madoff Litigation Webcast
Today’s webcast on the “Madoff Litigation: Can the Lost Billions be Recovered? How?” is just a few hours away. If you have a burning question you’d love to get answered, please send it to us now as there will surely be a crush of questions submitted during the webcast itself. Please submit your questions for […]
Prosecutors’ Appeal of Madoff Bail Ruling Scheduled to be Heard Today
The prosecution’s appeal of a court ruling allowing Bernard L. Madoff to remain free on bail will be heard today. Reuters reports that Judge Lawrence McKenna in the SDNY is scheduled to hear the government’s argument at 2:30 p.m. Madoff’s lawyer Ira Sorkin said Madoff would appear in court for the hearing. “The government will […]
Kickback Defendants Steven Schulman and Howard Vogel Begin Serving Sentences This Week
Steven Schulman and Howard J. Vogel, two defendants convicted in the criminal kickback case involving law firm Milberg Weiss, are scheduled to report to federal prison this week. Schulman was a former partner in the firm, and Vogel was a former lead plaintiff in the firm’s securities class action cases. The NLJ reports that Schulman, […]
Report: Securities Act of 2008 “Dies” in Senate
Investment News reports that the U.S. Senate has “failed to take up” a House-passed bill that would have expanded the SEC’s enforcement authority, and that the bill has “died.” Key provisions of HR 6513 (previously discussed in detail here), included: authorizing the SEC to assess and impose civil penalties in a cease and desist proceeding; creating […]
Canada: OSC Alleges Insider Trading Against Celestica Employee Who Improperly Accessed Management Emails
The Ontario Securities Commission has charged Rajeev Thakur, a former employee of Celestica Inc., of improperly accessing and profiting from the e-mails of senior management by buying and selling shares based on information in the emails. The Province reports that at the time Thakur is alleged to have made the trades, between 2003 and 2005, […]
Report: SEC Sues Blackstone MD for Insider Trading Scheme
The SEC reportedly filed an insider trading case on Tuesday against Ramesh Chakrapani, a managing director at private equity firm Blackstone Group, for an alleged scheme involving shares of supermarket chain Albertsons. Reuters and Dow Jones report that the complaint alleges that Chakrapani supplied a friend with material nonpublic information about Albertsons’ acquisition before the […]
Mass. Securities Regulator Files Fraud Claim Against Reserve Management
The hits keep coming for Reserve Management Co., the mutual fund that “broke the buck” back in September 2008. On Tuesday, Massachusetts’ top securities regulator accused Reserve executives in an administrative complaint of misrepresenting the fund’s safety in an ultimately futile bid to prevent investors from pulling out cash. The company has already been the […]