David Kornblau has joined law firm Covington & Burling as a partner in its New York office. The firm announced this week that Kornblau will be a member of Covington’s white collar and securities enforcement and litigation practices. Kornblau is the former Chief Litigation Counsel for the Securities and Exchange Commission’s Division of Enforcement. As Chief Litigation Counsel from 2000…
A recently disclosed plan that could strip certain powers from the Securities and Exchange Commission has created the first public wedge between the Obama administration and SEC Chairman Mary Schapiro.
GSI Group Inc. announced today that it has received a notice from the SEC “indicating that the SEC is conducting a formal investigation relating to the Company’s identified errors in the timing of recognition of revenue from sales to certain Semiconductor Systems Segment customers from 2005 through 2008.” The Company further stated that it intends to cooperate fully with the…
Barry Mandel has joined law firm Foley & Lardner as a partner in its New York office. The firm announced yesterday that Mandel will work in its Securities Enforcement & Litigation Practice and White Collar Defense Practice. Mandel most recently served as co-head of Global Litigation, Employment and Regulatory Affairs for Merrill Lynch & Co., Inc., where he oversaw Merrill…
As previously discussed here, the civil trial against Richard Scrushy began in Alabama last week. Testifying today for the first time in his own defense, Scrushy said today he had “no knowledge of any financial fraud” at HealthSouth Corp., and that he was misled by other executives. The Birmingham News reports that Scrushy testified that in 2003, he was told…
The UK’s newly-aggressive Financial Services Authority (FSA) is pursuing another high-profile insider trading case, as reports emerged today that a partner at the London office of Dorsey & Whitney and a former partner of McDermott Will & Emery will be charged criminally next month with insider trading.
U.S. Considers Stripping SEC of Certain Powers in Regulatory Overhaul, Richard Scrushy to Testify Today in Civil Case, U.S. Attorney Picks Under Way, Court Approves Distribution of $843 Million to AIG Investors from SEC, and more.