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Join the Securities Litigation and Enforcement Group on LinkedInCourt rules SEC need not reimburse deponents for ‘bacchanalian adventure’ | Compliance Week
Bacchus is the Roman god of wine and intoxication (equated with the Greek Dionysus). “Bacchanalia,” or orgies in honor of Dionysus, were introduced in Rome around 200 BCE but eventualy got so out of hand that they were forbidden by the Roman Senate in 186 BCE. Roughly 2,000 years later, Bacchus made an appearance in […]
Whistleblowers: No Reasonable Belief of Violation, No Protection — SEC Actions
A recent decision by the eighth circuit court of appeals now adds to the debate over who can qualify as a whistleblower. Beacon v. Oracle America, Inc., No. 15-1729 (8th Cir. Decided June 6, 2016). There the court concluded that one must “establish that a reasonable person in his [the whistleblower’s] position, with the same […]
Joe Nacchio’s insider trading gains aren’t tax deductible, court rules — Denver Bus. Journal
Joseph Nacchio, former Qwest CEO and convicted insider trader, can’t claim surrendered proceeds from illegal Qwest stock trades as a nearly $18 million tax deductible business expense, a federal appeals court ruled. The U.S Court of Appeals for the Federal Circuit reversed a lower court’s ruling and rejected Nacchio’s bid claim the large federal income […]
Securities Docket News Wire for June 13, 2016
Get caught up with the Securities Docket News Wire for June 13, 2016.
U.S. court skeptical of lawmaker immunity in trading probe – Reuters
A federal appeals court fired skeptical questions on Monday at a lawyer for a U.S. congressional committee and a former staffer who argued that Congress is immune from having to cooperate with an insider-trading investigation. During a hearing, a three-judge panel of the 2nd U.S. Circuit Court of Appeals appeared to lean in favor of […]
The Tide Has Turned: The SEC’s Renewed Focus on Non-GAAP Financial Measures – Jones Day
For some time, the Securities and Exchange Commission, or SEC, took a noticeably hands-off approach toward the use of non-GAAP (generally accepted accounting principles) financial measures by public companies listed in the United States. However, recent developments have signaled a renewed focus on registrants’ use of non-GAAP financial measures…. via The Tide Has Turned: The […]
Was Someone Tipped Off To The LinkedIn Sale? – Fortune
Fortune has examined options contract records for LinkedIn, and discovered unusually high trading volume last Friday. One of the LinkedIn options is a call with a strike price of $160 per share, which is the price at which an option starts to make money, that matures on August 19. They first began trading on Feb. […]