‘Enforcement 40’ for 2020
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By Securities Docket on July 8, 2009, 2:54 pm
In a letter Tuesday to the SEC, Senator Bob Bennett of Utah asked the agency to investigate whether there is a practice of law firms making campaign donations to officials who oversee government pension plans so that they can subsequently be selected to represent those funds as plaintiffs in securities class actions. The Deseret News […]
By Securities Docket on July 8, 2009, 2:29 pm
The SEC announced today that Lori A. Richards, Director of the SEC’s Office of Compliance Inspections and Examinations (OCIE), plans to leave the agency on August 7. Richards has been the Director of OCIE since it was created by Chairman Arthur Levitt in May 1995. Ms. Richards said, “I’m honored to have been part of […]
By Securities Docket on July 8, 2009, 2:09 pm
In advance of his sentencing hearing scheduled for Monday, Marc Dreier has filed papers with the court seeking a sentence of no more than 12 ½ years in prison (sound familiar?). The WSJ Law Blog reports that under the federal sentencing guidelines, Dreier faces a possible sentence of up to 145 years. In his Memorandum […]
By Securities Docket on July 8, 2009, 11:33 am
The July 1, 2009 dismissal of the In re Gildan Activewear, Inc. Securities Litigation class action shows that Rule 10b5-1 trading plans can help defendants negate the inference that their sales of stock are suspicious.
By Securities Docket on July 8, 2009, 6:55 am
In Battle of the Super Litigators, Boies Trumps Wells; Madoff Investor Merkin Moves to Dismiss Damages Suit; Jury Rejects AIG’s Claims Against Former CEO; SEC Chairwoman Schapiro To Testify Before U.S. House Panel July 14 on Challenges SEC faces in Post-Madoff World; House Subcommittee Will Hold Hearing Next Week on Congressional Insider Trading; Accused Ponzi Schemer Allen Stanford: Feds in ‘Coordinated’ Attack on His Rights; SEC Enforcement Going Forward With Plan to Eliminate Branch Chief Position; and more.