Daily Archives: July 15, 2009, 1:31 pm

Calpers Sues Three Leading Credit Agencies Claiming Losses Caused by “Wildly Inaccurate” Ratings

California Public Employees Retirement System, the nation’s largest public pension fund, has filed a lawsuit in state court in California alleging that it suffered $1 billion in losses caused by “wildly inaccurate” credit ratings from the three leading ratings agencies. The NY Times reports that the lawsuit focuses “on a form of debt called structured investment vehicles, highly complex packages…

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SEC Issues Wells Notice to Morgan Keegan & Co.

In a Form 8-K filed today by Regions Financial, the company announced that on July 9, 2009, its wholly-owned subsidiary, Morgan Keegan & Company, Inc., received a “Wells” notice from the Staff of the Atlanta Regional Office of the SEC.  Regions Financial disclosed that the SEC staff intends to recommend that the Commission bring enforcement actions for possible violations of…

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The List (v. 2.0): Blogs, Websites and Other Feeds Included in the Securities Litigation and Enforcement Group News Feed

As members of the Securities Docket Securities Litigation and Enforcement Group on LinkedIn.com know, the group has a very useful news feed that is essentially a firehose of information from 30 select blogs and other sources about securities litigation and SEC enforcement. LinkedIn limits the number of sources to 30, which encourages the exercise of periodically going through the list…

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SDNY’s Bill Johnson to Join Fried Frank

Bill Johnson, Chief of the Securities and Commodities Fraud Unit at the SDNY, will be joining law firm Fried Frank. The WSJ Law Blog reports that Fried Frank has confirmed the hire, but it remains unclear when Johnson is expected to start. Johnson became chief of the unit about two years ago.  Prior to joining the SDNY he served at…

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Securities Docket A.M. News Wire for July 15, 2009

Top rating agencies Moody’s, Standard & Poor’s and Fitch to be sued by pension giant Calpers. http://bit.ly/YqDQM # James Sanders Joins Reed Smith LLP in Century City. http://bit.ly/129MCs # Ex-Bear Stearns Manager Cioffi Loses Bid to Dismiss Charge. http://bit.ly/o4oHC # A Path for Lehman Clients to Get Assets Back. http://bit.ly/1cMlo5 # Chief of Securities Fraud at SDNY Hired by Fried…

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James Sanders Joins Reed Smith LLP in Century City

James L. Sanders has joined law firm Reed Smith LLP as a partner in its Century City office.  The firm announced yesterday that Sanders has joined its Global Regulatory and Enforcement Group of its Litigation Department.  His practice focuses on securities litigation, white-collar criminal defense, and the representation of corporations and individuals in investigations by the SEC. Prior to joining…

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