‘Enforcement 40’ for 2020
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By Securities Docket on June 3, 2014, 9:32 am
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 […]
By Securities Docket on June 3, 2014, 9:13 am
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 […]
By Securities Docket on June 3, 2014, 8:55 am
Get caught up with the Securities Docket News Wire for June 2, 2014.
By Securities Docket on June 3, 2014, 8:11 am
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 […]
By Securities Docket on June 3, 2014, 8:02 am
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 […]
By Securities Docket on June 3, 2014, 7:59 am
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 […]