‘Enforcement 40’ for 2020
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By Securities Docket on December 19, 2013, 7:37 am
Following a jury’s conviction of SAC Capital’s Michael Steinberg Wednesday, Preet Bharara remains undefeated in prosecuting insider trading. Since taking over as the U.S. attorney for the Southern District of New York in August 2009, Mr. Bharara is 77 for 77 in convicting defendants in insider trading cases. Eighteen of those defendants pled guilty, and […]
By Securities Docket on December 19, 2013, 7:35 am
A jury found a senior employee of SAC Capital Advisors LP guilty of insider trading, a verdict that deals another blow to the giant hedge fund and its billionaire founder, Steven A. Cohen. The guilty verdict for Michael Steinberg came after roughly ten hours of deliberation over two days and could send him to prison. […]
By Securities Docket on December 18, 2013, 2:29 pm
The SEC’s just-released enforcement statistics for FY 2013 show that the agency filed just 68 “Financial Fraud/Issuer Disclosure” cases in 2013. These 68 cases represent the fewest financial fraud cases the agency has brought in at least the last 16 years, and mark at least the sixth consecutive year in which the number of financial […]
By Securities Docket on December 18, 2013, 8:55 am
Get caught up with the Securities Docket News Wire for December 17, 2013.
By Securities Docket on December 18, 2013, 7:21 am
…The data indicate that cases involving bankrupt companies are in fact successful for plaintiffs more than are cases against solvent companies. Among cases filed since 2000, only 29% of cases involving bankrupt companies were dismissed or voluntarily dropped, compared to 46% of cases against solvent companies. The low rate of dismissal for these cases suggests that they […]
By Securities Docket on December 17, 2013, 12:13 pm
Today, the SEC released statistics about its enforcement efforts in fiscal year 2013. For the year ending September 30, 2013, the SEC filed 686 enforcement actions and generated a record $3.4 billion in monetary sanctions against defendants and respondents in its cases. via ‘Well-Positioned’ SEC Releases FY 2013 Enforcement Statistics – Compliance Week
By Securities Docket on December 17, 2013, 8:55 am
Get caught up with the Securities Docket News Wire for December 16, 2013.
By Securities Docket on December 17, 2013, 7:23 am
JPMorgan Chase, the biggest U.S. bank by assets, is banning the use of multidealer online chat rooms and the use of such chat rooms among staff for social purposes, a person familiar with the matter told Reuters on Tuesday. Chat rooms have been a focus for regulators investigating manipulation of benchmark interest rates and possible […]
By Securities Docket on December 17, 2013, 7:13 am
The U.S. Securities and Exchange Commission asked a federal judge to order former Goldman Sachs Group Inc vice president Fabrice Tourre to pay more than $1.1 million for his role in a failed 2007 mortgage deal, according to a court document filed Monday in Manhattan federal court. via SEC seeks $1.1 m-plus from ex-Goldman VP […]