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By Securities Docket on July 31, 2009, 5:38 pm
SENTENCING LAW AND POLICY (July 31, 2009): Tenth Circuit reverses Nacchio’s sentence while thoughtfully discussing federal fraud sentencing This big sentencing opinion from the Tenth Circuit in the Nacchio case covers matters of great interest and importance to both sentencing theorists and practicing corporate lawyers. And how often do I get to say that? JOANNA […]
By Securities Docket on July 31, 2009, 8:12 am
Thank you to Securities Docket website sponsors Alvarez & Marsal, BDO Consulting, Daylight Forensic & Advisory, and FAILSAFE CPA. 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 & […]
By Securities Docket on July 31, 2009, 6:55 am
David Nelson, Miami Regional Director, to Leave SEC. http://bit.ly/Bh1SP # SEC charges three with concealing the identity and involvement of convicted securities fraud felon in co.’s top mgmt. http://bit.ly/11xvwe # Australia: Crackdown on director share deals and insider trading recommended by fed. govt’s key law adviser. http://bit.ly/r6ji2 # With Blogosphere in Uproar over 2nd Cir. […]
By Securities Docket on July 30, 2009, 6:55 am
SEC could charge Advance America boss with insider trading. http://bit.ly/5Pu1N # Delaware Vice Chancellor Stephen Lamb Joins Paul, Weiss. http://bit.ly/FMZTb # Trustee Sues Ruth Madoff for $44.8 Million. http://bit.ly/fC8Bu # MSNBC Video: Attorney Joseph Cotchett on His Extraordinary Prison Meeting With Bernard Madoff. http://bit.ly/zGZj4 # Stanford Receiver Sues 400 Investors to Recover Funds. http://bit.ly/wLJ4e # […]
By Securities Docket on July 30, 2009, 6:00 am
Guest columnist Amy Greer, a partner at Reed Smith LLP, writes that in its Dorozhko opinion, the Second Circuit stopped short of analyzing the facts, leaving it to the district court to determine whether this hack included a fraudulent misrepresentation. However, this decision vindicates a theory that the SEC has used before, in SEC v. Lohmus Haavel & Viisemann, and given the prevalence of computer hacking, other technology-based frauds, and the SEC’s never-ending challenge to apply decades-old statutes to novel fraudulent schemes, this case represents an important precedent for the agency.
By Securities Docket on July 29, 2009, 4:18 pm
Stephen P. Lamb, who has served as a Vice Chancellor of the Delaware Court of Chancery since 1997, will join law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP as a partner in its New York and (soon-to-be opened) Wilmington, Delaware offices. The firm announced today that Vice Chancellor Lamb will join its Corporate and […]
By Securities Docket on July 29, 2009, 2:57 pm
In this video, MSNBC speaks with Joseph Cotchett, a private attorney who had an extraordinary four and one half hour prison interview with Bernard Madoff on Tuesday. Cotchett met with Madoff on behalf of cheated investors, and says that Madoff provided him with “extraordinary” new details of his Ponzi scheme that will soon be included […]
By Securities Docket on July 29, 2009, 6:55 am
Bank of America Settles Parmalat Litigation for $100 Million in Cash and Noncash; SEC files two settled enforcement actions against Avery Dennison Corp. alleging violations of FCPA; Pfizer Under FCPA Scrutiny in the Philippines; FOX Business Video: Report Confirms DOJ Asked SEC Not to Pursue Stanford Investigation. Stanford Hampered SEC Probe; France: EADS execs could face huge insider trading fines; Delaware Chancellor Dismisses Shareholder Challenge to Activision-Vivendi Merger — Again; Industrial shareholders say they have been provisionally cleared in EADS insider probe.
By Securities Docket on July 28, 2009, 5:00 pm
Bank of America Corp. has agreed to pay Parmalat SpA $100 million to settle a lawsuit accusing it of helping the Italian company hide debt and causing its 2003 collapse. Reuters reports that Bank of America, Citigroup, and auditors Deloitte Touche Tohmatsu and Grant Thornton LLP were sued for $10 billion each in the case. […]
Posted in Class Actions
By Securities Docket on July 28, 2009, 3:15 pm
FOX Business’ Adam Shapiro reports in this video on a new SEC Inspector General report that confirms the DOJ asked the SEC to not pursue its investigation of Stanford Financial.