‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSEC’s Newest Enforcement Weapon: Powerful Software — Money News
Palantir [software] allows the SEC to compare the records of every trade made in a particular stock, along with the identities of those who made each trade, with addresses, phone numbers and other personal information from paid databases. That enables it to see more clearly relationships between all those trading in the same stock. via […]
N.Y. moves to prevent elite access to insider information — CBC News
Eighteen Wall Street firms have agreed to a voluntary ban on analyst surveys amid concerns that the surveys might give some investors an advance peek at market-moving information. via N.Y. moves to prevent elite access to insider information — CBC News
Supreme Court Rules Allen Stanford Ponzi-Scheme Victims Can Sue Third Parties – Law Blog – WSJ
Victims of R. Allen Stanford’s $7 billion Ponzi scheme can sue law firms and other third parties on allegations they aided the fraud, the Supreme Court ruled Wednesday. The court, in a 7-2 ruling written by Justice Stephen Breyer, said the victims’ class-action lawsuits were allowed even though a 1998 federal law largely prohibits state-law […]
Morgan Stanley Discloses Tentative $275 Million SEC Settlement – Compliance Week
In its Form 10-K filed yesterday, Morgan Stanley disclosed that it has reached a tentative agreement to pay $275 million to resolve an SEC investigation into subprime RMBS transactions the firm sponsored and underwrote in 2007. The disclosure appears to signal the end of Morgan Stanley’s distinction of being the only major bank to avoid […]
Guest Post: Inside Litigation Financing — The D&O Diary
Litigation finance has garnered a lot of attention recently. When a friend of mine, Adam Gerchen, told me last winter that he was launching his own investment firm focused on commercial litigation, Gerchen Keller Capital (“GKC”), I was intrigued. When he told me about their approach to the space, including financing litigation on the defense-side, I […]
Zynga wins dismissal of fraud lawsuit linked to IPO — Reuters
U.S. District Judge Jeffrey White in San Francisco said that despite their “excessively long and prolix” 110-page complaint, the shareholders failed to include “relevant, basic factual details” to support their claims against Zynga, company officials including founder Mark Pincus, and underwriters led by Morgan Stanley and Goldman Sachs & Co. via Zynga wins dismissal of […]
Securities Docket News Wire for February 25, 2014
Get caught up with the Securities Docket News Wire for February 25, 2014.
After Inquiry, SAC Capital Says It Intends to Hire a Trading Monitor – NYTimes.com
Steven A. Cohen, the billionaire hedge fund owner, is looking to hire a former prosecutor or securities regulator to monitor trading at his investment firm after the federal government's insider trading investigation. After Inquiry, SAC Capital Says It Intendsto Hire a Trading Monitor – NYTimes.com