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9th Circuit Reverses Reyes’ Backdating Conviction
Today, the 9th Circuit reversed former Brocade CEO Gregory Reyes conviction for options backdating. Reyes had been convicted on ten counts of fraud in a criminal case, and sentenced to 21 months in prison and a $15 million fine. CNBC reports that the 9th Circuit, however, reversed the conviction because of prosecutorial misconduct, setting aside […]
Saudi Bishah Chairman Sentenced to Three Months Jail For Insider Trading
Reuters reports that Najm-Eddine Ahmad Najm-Eddine Dhafer, the chairman of Bishah Agricultural Development Co., has been sentenced to three months in jail after he was found guilty of insider trading. The Capital Market Authority said in a statement that the Committee for the Resolution of Securities Disputes (CRSD) issued a final verdict against Dhafer. It […]
Sponsor Spotlight: 5 Questions With Jim Barratt of Alvarez & Marsal
In this Sponsor Spotlight, we speak with Jim Barratt of Alvarez & Marsal. Jim is a Managing Director with Alvarez & Marsal Dispute Analysis & Forensic Services in Washington, D.C.
Securities Docket A.M. News Wire for August 18, 2009
Options Backdating Likely More Widespread Than Believed, Study Finds; Former Broker at Credit Suisse Found Guilty of Fraudulently Selling Subprime Securities; Two U.S. producers’ film fest at heart of their FCPA bribery trial; Ex-Stanford adviser says she warned SEC about bad CDs; Justice Dept. won’t appeal Nacchio resentencing ruling; NY Attorney General Cuomo Sues Charles Schwab Corp. Over Auction-Rate Securities; SDNY’s Bharara Names Prosecutors for Senior Positions; Prof. Bainbridge: Time to Ban Insider Trading by Congress; Stanford Investigators Turn Sights Toward Banks.