Daily Archives: July 19, 2013, 1:45 pm

Mary Jo White lays down the law as SEC rejects deal with Phil Falcone’s Harbinger fund – NYPOST.com

Billionaire financier Phil Falcone’s attempts to rebuild his troubled empire just took a massive hit from Mary Jo White’s Securities and Exchange Commission. The tough as nail head of the SEC refused to settle two civil suits against him and his Harbinger Capital Partners hedge fund. While Harbinger, which disclosed the SEC slap-down in a regulatory filing, did not say…

Read More

Judge OKs S&P Fraud Suit, Nixing ‘Puffery’ Defense — The Litigation Daily

The news just keeps getting worse for Standard & Poor’s Financial Services. Setting in stone a tentative decision reached last week, a federal judge in Santa Ana, Calif. refused late Tuesday to toss a Justice Department lawsuit accusing S&P of duping investors with inflated credit ratings for financial products backed by subprime securities. U.S. District Judge David Carter rejected arguments…

Read More