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Join the Securities Litigation and Enforcement Group on LinkedInDelaware Corporate Bylaws: Even if the Company Can’t Fee Shift, it Can Still Forum Select | The D&O Diary
In light of the recent legislative initiative to restrict Delaware stock corporations’ use of fee-shifting bylaws, companies incorporated in Delaware have, as described in a recent Law 360 article, a “smaller more defined toolbox” to reduce the burdens involved with shareholder suits. As it stands, the article notes, the “sharpest tool in the arsenal is […]
SEC Trial Scorecard Update: Jury Finds Against SEC in Obus Trial – Compliance Week
In March, I began tracking here the SEC’s trials to date in FY 2014 (which began on October 1, 2013), and the results in each case. On Friday of last week, the jury returned a verdict in what I believe to be the SEC’s 14th trial this year–its insider trading case against Nelson Obus, Peter Black and Thomas […]
Securities Docket News Wire for June 2, 2014
Get caught up with the Securities Docket News Wire for June 2, 2014.
Some Things to Think About While We Await the Supreme Court’s Decision in Halliburton | The D&O Diary
The U.S Supreme Court did not issue its long-awaited decision in the Halliburton case yesterday and so it looks as if we will have to wait a little while longer to find out whether or not the Court will throw out the fraud on the market theory. The Court will for sure release its opinion […]
Co-Defendant Sentenced in KPMG Insider-Trading Scheme | National Law Journal
The golfing buddy of a former KPMG LLP senior partner in Los Angeles was sentenced to five months in prison for making about $1.6 million in stock trades from insider tips. Scott London, former chief of KPMG’s audit practice for the Pacific Southwest, was sentenced earlier this year to 14 months in federal prison for disclosing […]
SEC Official Stresses Value of Protecting Whistleblowers – Compliance Week
Stephen Cohen, associate director of the SEC’s Division of Enforcement, cautioned that the agency is watching for employment agreements put in place by companies that, either expressly or through implication, discourage whistleblowers from reporting possible securities law violations to the SEC. “Something that prohibits employees from reporting wrongdoing or intimidates them is very problematic and […]