‘Enforcement 40’ for 2020
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By Securities Docket on June 1, 2009, 5:08 pm
Collateralized Debt Obligations (CDOs) have been the focus of much attention and ire in the wake of the credit crisis. But litigation over these structured financial products has been largely overshadowed by more high profile actions, such as subprime class actions and Ponzi scheme litigation. That could change in the coming months as a number […]
By Securities Docket on June 1, 2009, 3:44 pm
The SEC announced today the Fair Fund distribution of more than $78 million to more than 590,000 investors who were affected by undisclosed market timing in certain AIM mutual funds. The agency stated that the distribution is the result of a prior SEC enforcement action against AIM Advisors, Inc., which advised the funds, and AIM […]
By Securities Docket on June 1, 2009, 11:49 am
As previously discussed in detail here, Merrill Lynch and one of its subsidiaries face allegations from a Sydney businessman that they engaged in what would reportedly be “the biggest case of insider trading in [Australia’s] corporate history.” Today, Merrill Lynch shot back with a definitive statement rejecting the allegations: “Merrill Lynch completely rejects the allegations […]
By Securities Docket on June 1, 2009, 10:01 am
Vitesse Semiconductor Corp. (VTSS) announced today that the Staff of the SEC has agreed to recommend to the Commission a proposed settlement that would resolve the SEC’s investigation into historical stock option practices and certain other accounting irregularities at Vitesse. Under the proposed settlement, Vitesse would pay a $3 million civil penalty and consent to an […]
By Securities Docket on June 1, 2009, 6:55 am
UK Shareholders’ Association to sue Lloyds chiefs; FSA steps up battle against insider trading; We are made scapegoats, say jailed PWC auditors; Merrill Lynch denies Australian insider trading claims; US outlines arguments against Supreme Court review of ex-Qwest CEO Nacchio’s conviction; and more.