‘Enforcement 40’ for 2020
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By Securities Docket on May 5, 2009, 10:00 pm
Day Trader Pleads Guilty in “Golden Goose” Insider Trading Case. http://bit.ly/P8H8r # CDS Insider-Trading Case: Who Is Deutsche Bank’s Jon-Paul Rorech? http://bit.ly/WBI3s # SEC Charges Reserve Management Co., Others, With Fraud For Disclosures Related to “Breaking the Buck.” http://bit.ly/12zLBk # Report: Sen. Schumer’s Recommendations for New NY U.S. Attorneys. http://bit.ly/KtnJa # Millennium Responds to SEC […]
By Securities Docket on May 5, 2009, 4:49 pm
Jamil Bouchareb, a day trader who was one of five men charged criminally in the huge “Golden Goose” insider trading scheme that resulted in about $4.8 million in profits (previously discussed here), pleaded guilty today to charges of securities fraud and conspiracy charges. Prosecutors and the SEC allege that the ring made millions from former […]
By Securities Docket on May 5, 2009, 4:17 pm
The troubles continue to mount for the The Reserve Primary Fund., the money market fund that “broke the buck” on Sept. 16, 2008 and quickly became a defendant in numerous securities class actions. Today, the SEC announced that it has filed an enforcement action charging the entities and individuals who operate The Reserve Primary Fund […]
By Securities Docket on May 5, 2009, 3:03 pm
In a column last month, I noted the arrival of a new Securities and Exchange Commission enforcement director, Robert Khuzami. I suggested that Khuzami had to hit the ground running and discussed the flood of suggestions from within the SEC and from the outside that Khuzami had already received as to what he should prioritize and pursue upon his arrival.
Less than one month later, details of big changes in the Enforcement Division have begun to emerge. From my perspective, the changes now being introduced are smart, high-impact moves that will help the Enforcement Division perform at a higher level.
By Securities Docket on May 5, 2009, 12:39 pm
Sen. Charles Schumer is reportedly recommending Loretta Lynch to be the next U.S. attorney for the Eastern District of New York, Richard Hartunian for New York’s Northern District, and William Hochul for the Western District. Newsday reports that Lynch formerly held the position of U.S. Attorney for the Eastern District from 1999 to 2001. Read […]
By Securities Docket on May 5, 2009, 10:00 am
The SEC charged Renato Negrin, a former portfolio manager at hedge fund investment adviser Millennium Partners L.P., and Jon-Paul Rorech, a salesman at Deutsche Bank Securities Inc., with insider trading in credit default swaps of VNU N.V., an international holding company that owns Nielsen Media and other media businesses. The case represents the SEC’s first […]
By Securities Docket on May 5, 2009, 7:02 am
The UK-based fund Juridica continues to enjoy nice returns investing in litigation. As discussed in a recent article in Fortune, Juridica, which is traded on London Stock Exchange’s small-companies market, funds “Fortune 500-size companies or their lawyers in the early stages of corporate lawsuits in exchange for a share of the payout if the plaintiffs win or settle.”