Daily Archives: April 10, 2009, 10:00 pm

Securities Docket News Wire for April 10, 2009

Madoff Feeder Fees Took in Over $790 Million in Fees. http://tinyurl.com/cmdxgq=testMod #sdx # SEC Voluntarily Dismisses All Claims Against Former General Counsel of McAfee Inc. http://is.gd/rPQz #sdx # SEC’s tough new cop seen helping agency’s image. http://is.gd/rPLI #sdx # Web Watch: Best Blog Posts and Columns For the Week Ending April 10. http://is.gd/rPEg #sdx # April 21 Webcast — SEC…

Read More

April 21 Webcast — SEC Enforcement Update: A Wounded Animal is a Dangerous Animal

In a sharp detour from the era of Chairman Christopher Cox, the SEC under new Chairman Mary Shapiro’s leadership has obtained big budget increases that will be used to increase the number of enforcement lawyers. It has also empowered its staff by streamlining procedures relating to the issuance of formal orders of investigation and negotiating civil penalties with corporations. The…

Read More

Australia: Opponents of “Sons of Gwalia” Shareholder Decision Seek Legislative Fix

As previously discussed here, a key development that has spurred the recent rise of securities class actions in Australia is the High Court’s 2007 decision in Sons of Gwalia v Margaretic. In that case, the court overturned the convention that shareholders rank behind creditors in an insolvency, and ruled that “a shareholder in a failed company had the same right…

Read More

Reviewing the “Restacking”

Remember the “Restacking Project,” the poorly-timed, $4 million reshuffling of offices for nearly all of the 2,000-plus employees at the SEC’s 3-year-old DC headquarters that has now been going on for many months? As previously discussed here, the Restacking Project already has its own newsletter (the “Restacker”), hotline number, help desk in Room 3465, and an e-mail address to handle computer or communications problems.

Now the Restacking Project has its own, critical 56-page Inspector General report, as well.

Read More