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Join the Securities Litigation and Enforcement Group on LinkedInJudge Approves $153 Million Settlement in Fannie Mae Securities Class Action – The Blog of Legal Times
A Washington federal trial judge today approved a $153 million settlement between Fannie Mae and shareholders who sued the mortgage giant for securities fraud. via Judge Approves $153 Million Settlement in Fannie Mae Securities Class Action – The Blog of Legal Times
Securities Docket News Wire for December 5, 2013
Get caught up with the Securities Docket News Wire for December 5, 2013.
The Effect of Audit Committee Expertise on Monitoring Financial Reporting — The Harvard Law School Forum on Corp. Gov. and Fin. Reg.
Contrary to prior studies that do not report a significant association between supervisory expertise and financial reporting quality (Krishnan and Visvanathan 2008; Dhaliwal et al. 2010), we identify instances in which audit committee members with both industry and supervisory expertise are associated with higher financial reporting quality and more effective monitoring of the external auditor. […]
The Growth of Appraisal Litigation in Delaware — The Harvard Law School Forum on Corp. Gov. and Fin. Reg.
Numerous commentators and academics have written about the growth of M&A litigation over the last several years. Less noticed, but perhaps more significant, has been the growing tendency of institutional and other large investors to exercise their appraisal rights under Delaware law. Investors in several recent high-profile mergers have announced their intention to, or sought […]
In the Murky World of Bitcoin, Fraud Is Quicker Than the Law – NYTimes.com
The call went out on Twitter: “For insane profits come and join the pump.” It was an invitation to a penny stock-style pump-and-dump scheme — only this one involved Bitcoin, the soaring, slightly scary virtual currency that has beckoned and bewildered people around the world. While such bid ’em up, sell ’em off scams are […]
Ex-Tyco CEO stole out of ‘pure’ greed — New York Post
Disgraced former Tyco boss Dennis Kozlowski copped to being a greedy crook at his parole hearing. “I fell into what I can best describe as a CEO bubble, and I rationalized that I was more valuable than I was,” he told the board Tuesday. “It was wrong, and I just — it was greed, pure […]
Kozlowski’s New Job: Software Company Clerk – NYTimes.com
L. Dennis Kozlowski was once a high-flying chief executive, perched atop Tyco International. Now, after serving prison time for fraud, he is working at a software company as a clerk. Mr. Kozlowski, who was granted parole this week, has been working since early 2012 at a company that provides software to help veterans and ex-offenders find […]
The Rogue Employee Myth: Prevention and Detection in a FCPA Compliance Program — FCPA Compliance and Ethics Blog
The clear lesson for the compliance practitioner from the Madoff employees’ trial testimony to-date is that there cannot be one person or the ubiquitous ‘rogue employee’ who decides to engage in bribery and corruption. There has to be more than one person. To circumvent a company’s internal controls takes work. For in any criminal FCPA […]