Daily Archives: August 2, 2012, 6:01 pm

Judge upbraids class-action lawyers over expenses

A federal judge in Washington state has publicly disciplined two attorneys from a prominent plaintiffs firm for claiming unreasonable expenses while handling a securities class action. U.S. District Judge Justin Quackenbush issued an order of reproval on July 24 against attorney Joy Bull, who, according to the order, resigned as a partner from Robbins Geller Rudman & Dowd last week…

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Insider fraud increases due to pay freezes

Pay freezes, rising unemployment and inflation are to blame for rising levels of insider fraud, according to CIFAS, the UK fraud prevention service…. CIFAS warned that economic and employment worries were to blame for the increase, as employees “work harder than ever for smaller rewards”, which can create resentment. via Insider fraud increases due to pay freezes – Telegraph

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SEC Charges Bristol-Myers Squibb Executive With Insider Trading in Stock Options of Potential Acquisition Targets

The SEC alleges that Robert D. Ramnarine, who lives in East Brunswick, N.J., made more than $300,000 in illegal profits by misusing nonpublic information he obtained while helping Bristol-Myers Squibb evaluate whether to acquire three other pharmaceutical companies. He used multiple personal brokerage accounts to illegally trade in stock options of these potential target companies. Prior to some trading, Ramnarine…

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