Daily Archives: April 24, 2009, 10:00 pm

Securities Docket News Wire for April 24, 2009

Web Watch: Best Blog Posts and Columns For the Week Ending April 24. http://bit.ly/L7vua #sdx # Madoff CFO trying to negotiate plea deal in which he would divulge his knowledge of Madoff’s scheme. http://bit.ly/7fji7 #sdx # Investors with Bernard Madoff who had a net loss due to his fraud won’t be asked to return funds. http://bit.ly/1bziw #sdx # U.S. Attorney…

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Web Watch: Best Blog Posts and Columns For the Week Ending April 24

Here is the weekly summary for Securities Docket’s Web Watch (”This Week’s Best Blog Posts and Columns”): COMPLIANCE BUILDING (April 24, 2009): Failure to Conduct Diligence Can Lead to SEC Sanctions If you advertise that you have due diligence process, you had better follow that process. The SEC brought an administrative proceeding against an investment adviser for failing to follow…

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TRO Requests, Wells Process, FCPA Among Emerging SEC Enforcement Issues

On Tuesday, April 21, 2009, Michael MacPhail of Holland & Hart and Patrick Hunnius of White & Case discussed key issues emerging from the SEC’s Enforcement Division, and the impact of these issues on regulated entities and the lawyers who represent them. MacPhail and Hunnius are both former senior attorneys with the SEC’s Division of Enforcement. A complete summary of their presentations in the Securities Docket webcast entitled, “SEC Enforcement Update: A Wounded Animal is a Dangerous Animal,” is now available.

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Germany: Court Dismisses Unusual Shareholder Lawsuit Against Daimler AG

On Wednesday, the Stuttgart Higher Regional Court rejected a lawsuit brought by shareholders seeking 6 million euros ($7.8 million) from Daimler AG for allegedly failing to disclose former Chief Executive Officer Juergen Schrempp’s 2005 decision to resign in a timely fashion. Bloomberg reports that the shareholders claimed that Schrempp decided in May 2005 to leave the company by the end…

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California AG Sues Wells Fargo for $1.5 Billion Over ARS Sales

The state of California sued Wells Fargo yesterday alleging that the bank misled investors about the safety and liquidity of the auction-rate securities that it sold.  DealBook reports that the lawsuit seeks $1.5 billion from Wells Fargo. In a statement yesterday, Attorney General Jerry Brown (pictured) said that “Wells Fargo’s affiliates promised investors auction-rate securities were as safe and liquid…

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Thank You to Our Sponsors: Alvarez & Marsal and BDO Consulting

Thank you to Securities Docket website sponsors Alvarez & Marsal and BDO Consulting. Interested in becoming a Securities Docket sponsor? Click here. For 25 years, Alvarez & Marsal has set the standard for working with organizations to tackle complex issues, boost performance and maximize value for stakeholders. Alvarez & Marsal Dispute Analysis & Forensic Services (DA&F) professionals provide critical assistance…

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