Here is the weekly summary for Securities Docket’s Web Watch (”This Week’s Best Blog Posts and Columns”):
- THE D&O DIARY (May 1, 2009): Will TARP Money Fund Securities Lawsuit Settlements?
A recent suggestion that TARP money will fund securities lawsuit settlements disregards the existence of D&O insurance, E&O insurance, and fiduciary liability insurance, which will be funding much of the defense and settlement of these cases. - ALEX ALDRIDGE, LEGAL WEEK (May 1, 2009): Going inside the FSA
The Financial Services Authority’s enforcement division is on a good run. Perhaps this is why its director, the tough former White & Case litigator Margaret Cole, seems so relaxed when we meet at the FSA’s Canary Wharf headquarters. - DEALBOOK (April 29, 2009): Another View: A Bailout for the Plaintiff’s Bar
Now, in the world according to TARP, securities class action settlement money is no longer coming from the corporation or its insurance plan. It’s coming from you. - JONES DAY COMMENTARIES (April 29, 2009): Commercial Real Estate CDO Litigation: The Credit Crisis’ Next Wave?
Could the next wave of the credit crisis flood courthouses with commercial real estate securities lawsuits? - THE FCPA BLOG (April 29, 2009): Catching Corrupt Lawyers, Part II
The FCPA Blog went looking for Foreign Corrupt Practices Act-related cases where lawyers were alleged to be on the wrong side of the law. Turns out there aren’t many. - THE ETHICIST, NYT (April 28, 2009): Ruth Madoff’s Duty
Here’s a guideline: around the time you acquire your third house and your second yacht, you must enquire, How are we paying for this? - THE FCPA BLOG (April 28, 2009): Catching Corrupt Lawyers, Part I
Two professional groups say they’ll punish any lawyers involved in KBR’s $182 million scheme to bribe Nigerian officials in exchange for contracts worth $6 billion. - JEFFREY KILDUFF AND MEREDITH LANDY, IBD (April 28, 2009): Rulings In Subprime Class-Action Suits Are Turning In Favor Of Management
While plaintiffs survived early attacks on the legal sufficiency of their complaints against prominent subprime lenders like New Century Financial, more recent decisions have dealt plaintiffs swift and decisive lethal blows. - FIGHTING FRAUD (April 28, 2009): Due diligence in a post-Madoff world
Following the exposure of the $50 billion Bernard Madoff Ponzi scheme, investors and fund managers are under increasing pressure to perform more rigorous due diligence of hedge funds. But is that easier said than done? - SHERI QUALTERS, NLJ (April 28, 2009): As Enforcement Goes Global, So Do White-Collar Crime Lawyers
U.S. white-collar and securities defense lawyers are increasingly taking their shows on the road, defending and advising overseas clients as both the SEC and the DOJ adopt a more global prosecution approach. - FLOYD NORRIS BLOG (April 27, 2009): How Not to Regulate
If you don’t want a job done, hire someone who thinks the job should not be done. That sounds perverse, but it is exactly what happened at the SEC in the later years of the Bush administration. - RE: BALANCE (April 26, 2009): Once and Future Accounting Schemes — What Will They Think Up Next?
To pull off the next large accounting scam – or, more virtuously, to try to prevent it – where would we look? Start with the lessons of the past. - AL LEWIS, DOW JONES NEWSWIRES (April 25, 2009): Wall Street Schemer Preyed on Hope
“You tell Mary Shapiro that Sammy Antar sent her a message. You tell her straight out: If Mary Shapiro was the SEC chairperson in my day, I’d still be the criminal CFO of Crazy Eddie today.” - HOUSTON CHRONICLE (April 25, 2009): Dunce Defense
The “I know nothing about how my company runs” line was on prime display this past week with a well-orchestrated performance by 59-year-old R. Allen Stanford.
