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By Securities Docket on July 24, 2009, 6:55 am
Hedge-Fund Manager Ribotsky Investigated for Fraud; S. Korea: Probe of Insider Trading Involving OCI Launched; Insider Twitting, Canadian Edition; SEC v. Dorozhko: Second Circuit Dispenses With Fiduciary Duty Requirement in Hacker Insider Trading Case; SEC Charges Foreign Trader, Entities In False-News Scheme; Wrap Up: Hot Tips, Twitter and Insider Trading. Report: SEC Issues Wells Notices to AIG Financial Products Executives.
By Securities Docket on July 24, 2009, 6:11 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 23, 2009, 5:54 pm
Yesterday in SEC v. Dorozhko, the Second Circuit reversed a lower court that had ruled that computer hacking was not “deceptive” within the meaning of Section 10(b), as defined by the Supreme Court.
By Securities Docket on July 23, 2009, 2:15 pm
Today, Wayne State University law professor Peter Henning and I hashed through the various issues raised in an earlier post about “Hot Tips, Twitter and Insider Trading” in an online discussion. We also explored the recent Mark Cuban decision, the 2nd Circuit’s opinion yesterday in the Dorozhko case, and the bill now before Congress that would prohibit Congressional insider trading. Check it all out here.
By Securities Docket on July 23, 2009, 12:04 pm
The SEC has reportedly issued Wells notices to certain executives at AIG’s Financial Products unit. Citing the July issue of Corporate Counsel magazine, ABC News reports that Wells notices have gone out to multiple executives indicating the SEC staff’s intention to recommend that the Commission pursue enforcement action. Read the ABC News article
By Securities Docket on July 23, 2009, 6:55 am
Placement Agents: Banned Under New SEC Rules; Audit Firms Sure to Face New Litigation, Experts Say; Online Discussion: “Hot Tips, Twitter and Insider Trading;”July 23: Real Answers to “Hot Tips, Twitter and Insider Trading;” SEC Files Novel “Clawback” Action Under SOX 304; Satyam founder Ramalinga Raju’s judicial custody extended until Aug 5; Spain: Prosecutors Will Appeal Court Decision Clearing Telefonica’s Alierta of Insider Trading; August 5 Webcast – Credit Default Swaps: Recent Developments.
By Securities Docket on July 22, 2009, 2:51 pm
Please join us! This live, online discussion featuring law professor Peter Henning and Securities Docket’s Bruce Carton begins today (Thursday, July 23) at 1 pm Eastern.
By Securities Docket on July 22, 2009, 1:53 pm
I took a shot yesterday at answering my own hypothetical questions involving insider trading liability for tips and trading related to Twitter “tweets.” Recognizing that I was grasping for answers and that I clearly needed to bring in heavier artillery, I reached out to Peter Henning, a law professor and frequent blogger for the New York Times’ DealBook on securities law issues. Peter graciously agreed to help me get to the bottom of these questions, and we will attempt to do that tomorrow in an online chat here at Securities Docket at 1 pm Eastern.
By Securities Docket on July 22, 2009, 1:20 pm
The SEC has asked a federal court in Arizona to order the former CEO of CSK Auto Corporation to reimburse the company and its shareholders more than $4 million under SOX 304. According to the SEC, this is the first action seeking reimbursement under the SOX “clawback” provision (Section 304) from an individual who is […]
By Securities Docket on July 22, 2009, 11:00 am
Roger R. Crane has joined law firm K&L Gates as a partner in its New York office. The firm announced this week that Crane has joined its commercial disputes practice. Crane joins K&L Gates from Nixon Peabody LLP, where he was leader of the business litigation team. Crane told the NYLJ that he joined K&L […]