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UK: Former millionaire restaurateur convicted of insider trading ‘broke, single and unemployable.” http://is.gd/lsQS #
“Impersonation of Securities Regulator” Scam is Back
As if the SEC doesn’t have enough to deal with, it must also now contend with con artists using the names of actual SEC employees to attempt to gain confidential information and mislead potential victims. The SEC issued a press release today to warn the public about this scam. This is not the first “securities regulator impersonation” case we’ve seen, however.
March 11 Webcast — The Subprime Boomerang: After the Writedowns Comes the Litigation
On March 11, 2009, Navigant Consulting is sponsoring a webcast entitled “The Subprime Boomerang: After the Writedowns Comes the Litigation” that will examine the landslide of subprime litigation that is now upon us. It’s been two years since concerns over subprime mortgages threw off the early sparks that eventually grew into the current global credit […]
Key Witness in National Century Prosecution Receives Sentence of Two Years in Prison
Jon Beacham (pictured), a former executive of National Century Financial Enterprises who was a key witness in a $1.9 billion corporate fraud case against executives at the company, was sentenced to two years in prison on Friday by U.S. District Judge Algenon L. Marbley (S. D. Ohio). According to the AP, Beacham “cooperated with investigators […]
Sen. Specter Introduces Legislation Allowing Attorneys a Tax Deduction for Contingency Fee Case Expenses
On the Point of Law blog, Carter Wood notes that last month, Sen. Arlen Specter (pictured) introduced S. 437, a bill that would amend the Internal Revenue Code to allow attorneys a tax deduction in the current taxable year for reimbursable expenses and court costs which they pay or incur in connection with contingency fee […]
Guest Column: Should Outside Directors Request the Purchase of Independent Director Liability Policies?
Should outside directors on corporate boards of directors request that the companies’ boards companies purchase Individual Director Liability (IDL) insurance for them? In a guest column, Scott N. Godes of Dickstein Shapiro writes that generally speaking, IDL insurance is just for outside or independent directors of a company and, depending on the form in which it is written, may offer independent directors additional insurance protection if the corporate policyholder’s insurers were to attempt to deny or rescind coverage under the policyholder’s directors and officers insurance policy.