Daily Archives: March 20, 2009, 11:59 pm

Securities Docket News Wire for March 20, 2009

March 26 Webcast — Examining the Bankruptcy Trustee’s Controversial “Clawback” Tool. http://is.gd/oeST # Highlights of Commissioner Walter’s Congressional Testimony Today on SEC’s Enforcement Division. http://is.gd/oc4X # Credit-rating agencies set for billion-dollar windfall from bailouts–$7 billion in new bond deals must be blessed. http://is.gd/obaI # Dreier’s Lawyers Indicate He is Likely to Change Plea to Guilty. http://tinyurl.com/c2sn3m # SEC Drops Backdating…

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March 26 Webcast — Examining the Bankruptcy Trustee’s Controversial “Clawback” Tool

The Madoff Ponzi scheme has brought intense scrutiny to the “clawback,” a controversial tool of the bankruptcy trustee that can allow the trustee to clawback funds received from a bankrupt person or entity.  Sometimes, as in the Madoff case, the people subject to the clawback are victims themselves. Join us for a webcast that will look at the “clawback” in…

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SEC Drops Backdating Case Against Former McAfee GC

On Thursday, the SEC dropped its options backdating case against Kent Roberts, former general counsel of McAfee Inc. The Recorder reports that the action followed an unsuccessful criminal case against Roberts in October. Roberts’ attorney, William Freeman of Cooley Godward, called the dismissal of the case a “complete vindication for Kent,” who did not pay a fine like many other…

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Court Dismissing Mayer Brown Defendants from Refco Case Revises Opinion to Voice Dismay

Shortly after issuing his opinion dismissing the law firm Mayer Brown and a former partner of the firm from the Refco securities litigation because he found they were not liable under the Supreme Court’s Stoneridge case unless they made misstatements directly to plaintiffs, Judge Gerard Lynch of the SDNY revised his opinion.  He added a lengthy footnote 15 expressing his…

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