‘Enforcement 40’ for 2020
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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.