‘Enforcement 40’ for 2020
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By Securities Docket on April 6, 2009, 11:59 pm
Report: IPO Securities Litigation Settles for $586 Million. http://is.gd/r4mp #sdx # TiVo Alert: ABC Interview with Allen Stanford Tonight. http://is.gd/r48z #sdx # MSNBC Video: NYAG Brings Civil Fraud Case Against Ezra Merkin in Madoff Scandal. http://is.gd/r2Ye #sdx # UK: FSA Starting to “Frighten” People? http://is.gd/r2GU #sdx # Chancery Court Grants Stay Requested by Special Litig. […]
By Securities Docket on April 6, 2009, 4:33 pm
Eight-plus years after it began, the IPO Securities Litigation may finally be coming to an end. In federal court today in the SDNY, investors advised U.S. District Judge Shira Scheindlin that the parties remaining in the case have reached a $586 million settlement of lawsuits that alleged that numerous defendants rigged IPOs in the late […]
By Securities Docket on April 6, 2009, 4:08 pm
Fire up the TiVo for tonight at 6:30 pm. At that time, ABC’s World News with Charles Gibson will air its interview with Allen Stanford. According to an ABC News article promoting the interview, among other things, Stanford “cried, denied wrongdoing and threatened to punch his questioner in the mouth” during the interview. Stanford also […]
By Securities Docket on April 6, 2009, 1:59 pm
MSNBC reports in this video that New York Attorney General Cuomo has brought fraud charges against Ezra Merkin, accusing him of funneling $2.5 billion into Bernie Madoff’s fund, while allegedly aware of red flags against Madoff. Visit msnbc.com for Breaking News, World News, and News about the Economy
By Securities Docket on April 6, 2009, 1:30 pm
Is it possible we have reached the “tipping point” in the UK with respect to people respecting the FSA and its enforcement of insider trading? Less than three weeks ago, the FSA’s chief executive, Hector Sants, engaged in some saber-rattling when he stated that “there is a view that people are not frightened of the […]
By Securities Docket on April 6, 2009, 10:42 am
Most Securities Docket readers are already using Twitter whether they know it or not. That’s because the popular Securities Docket News Wire that streams updates on the front page of Securities Docket is itself a Twitter feed (the feed of @SecuritiesD). Now Securities Docket is taking the benefits of Twitter to the next level for our readers, with the introduction of the beta version of the Securities Docket Exchange (“SDX”).
By Securities Docket on April 6, 2009, 6:42 am
Guest columnist Michael MacPhail of Holland & Hart writes that the issuance of a Wells notice presents defense counsel with an opportunity to learn about the proposed case against their client. Granting access to the entire investigative file (including the testimony transcripts of other witnesses) is a key part of the Wells process, since it permits defense counsel to more intelligently advise clients of the risks of possible enforcement action, facilitates the preparation of more focused and helpful Wells submissions, and encourages better and quicker resolutions of proposed enforcement actions. Yet the standards governing whether to grant such access, and their application by the staff, are arbitrary and capricious.