‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSEC Awards Nearly $4 Million to Whistleblower
The Securities and Exchange Commission today announced an award of nearly $4 million to a whistleblower who tipped the agency with detailed and specific information about serious misconduct and provided additional assistance during the ensuing investigation, including industry-specific knowledge and expertise. via SEC.gov | SEC Awards Nearly $4 Million to Whistleblower
Expected Supreme Court SEC ruling may help predict D&O losses | Business Insurance
The U.S. Supreme Court is expected to rule that the U.S. Securities and Exchange Commission is limited to a five-year period to recover funds that were deemed illegally obtained, based on last week’s oral arguments, experts say. They say such a ruling by the high court in Charles Kokesh v. Securities and Exchange Commission will […]
SCAS Again Ranks Bernstein Litowitz Among Top Securities Litigation Firms in the Nation; Over $2 Billion Recovered; Highest Average Recovery
According to data compiled by ISS’s Securities Class Action Services (“SCAS”), BLB&G again was atop the “SCAS 50” rankings, with the largest average recovery amount among the top firms – nearly $145 million per case – and obtaining over $2 billion in recoveries in 2016 through 14 settlements. via SCAS Again Ranks Bernstein Litowitz Among […]
This app shows you white-collar criminals – Business Insider
A new app and website called White Collar Crime Risk Zones , which goes by the initials WCCRZ, shows exactly what neighborhoods are chock full of financial criminals, how much damage they’re doing and even what they might look like. Using data from the Financial Industry Regulatory Authority, a team of technologists affiliated with the […]
Former Expedia IT employee get 15 months in U.S. prison for insider trading — Reuters
A former Expedia Inc computer support technician was sentenced to 15 months in prison on Tuesday after admitting he stole confidential information from senior executives’ emails to profit from insider trading. Jonathan Ly, 28, was sentenced by U.S. District Judge John Coughenour in Seattle after pleading guilty in December to a securities fraud charge for […]
Sessions Vows to Enforce an Anti-Bribery Law Trump Ridiculed – The New York Times
Attorney General Jeff Sessions vowed on Monday that the Trump administration would vigorously prosecute white-collar crime amid concerns that such cases would fall by the wayside in favor of higher-profile priorities like violent crime and illegal immigration. Mr. Sessions affirmed the department’s commitment to prosecutions under the Foreign Corrupt Practices Act, which bars corporations from […]
A Whack at Dodd-Frank Could Hamstring the S.E.C. – The New York Times
The draft of the Financial Choice Act 2.0, released last week by the House Financial Services Committee and aimed at overturning much of the Dodd-Frank Act, contains provisions that could change how the Securities and Exchange Commission polices the markets. Unlike similar legislation introduced last year by Representative Jeb Hensarling, Republican of Texas and chairman […]
U.S. charges investment bank vice president with insider trading | Reuters
An investment banking vice president and risk management specialist was criminally charged on Monday with insider trading in Neustar Inc before the advertising technology company agreed to be acquired by a private equity firm. Avaneesh Krishnamoorthy, an Indian citizen living in West New York, New Jersey, made about $48,000 trading Neustar stock and options in […]
Not an inside job: How two analysts became SEC whistleblowers | Reuters
Four years ago, two analysts who liked to swap notes on numbers they thought looked odd took a fateful step and tipped off U.S. regulators about a company that one of them had watched for months. via Not an inside job: How two analysts became SEC whistleblowers | Reuters
SEC Keeps up High Rate of Enforcement Activity — CFO
U.S. Securities and Exchange Commission enforcement activity continued at a strong pace during the first half of fiscal 2017 despite the uncertainty hanging over the agency since President Donald Trump took office. Between Oct. 1 and March 31, the SEC filed 334 total enforcement actions, compared to 372 during the same period in fiscal 2016, according […]