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Join the Securities Litigation and Enforcement Group on LinkedInSEC Commissioners Rejected Settlement With ITT Tech CEO | HuffPost
The U.S. Securities and Exchange Commission has rejected a proposed settlement of the SEC’s lawsuit against two former executives of the collapsed for-profit college company ITT Educational Services. In a court filing on August 11, SEC lawyers told the Court that “the Commission will not approve the proposed settlements” with former ITT CEO Kevin Modany […]
SEC Inspector General Concludes Acting Chairman Piwowar’s Actions Were Lawful – Lexology
In an investigation conducted at the request of four Senators, the SEC Inspector General concluded “we do not find that Commissioner Piwowar’s actions as Acting Chairman violated any of the laws currently governing the SEC and our review identified no evidence that his actions could either undermine the SEC’s mission or potentially prove to be […]
Mapping Types of Shareholder Lawsuits Across Jurisdictions
I recently posted my book chapter, Mapping Types of Shareholder Lawsuits across Jurisdictions (forthcoming in the Research Handbook on Shareholder Litigation, edited by Jessica Erickson, Sean Griffith, David Webber and Verity Winship) on SSRN. When corporate law scholars explore shareholder litigation abroad, they often start by looking for types of shareholder litigation familiar from the […]
US DOJ looking at whether Uber violated foreign bribery laws – Business Insider
The US Department of Justice is looking into whether Uber violated laws involving the bribery of foreign officials, the company confirmed to Business Insider on Tuesday. The DOJ is examining allegations that Uber, the privately-held ride-hailing giant, may have violated the Foreign Corrupt Practices Act. The law makes it illegal for individuals and organizations to pay […]
The “Dawn” of a New Day—and a New $20 Million Fraud Charge | Bloomberg BNA
But Bennett, a former radio personality in addition to her investment fund work, allegedly didn’t let that little setback slow her down. No, she picked herself up, dusted herself off, and, according to civil and criminal charges filed by the SEC and the Justice Department, started a brand new career as a Ponzi schemer and […]
The Real Lessons of Bernie Madoff’s Crimes | The Crime Report
In Bernie Madoff and the Crisis: the Public Trial of Capitalism (Stanford University Press), Eren suggests that the focus on Madoff as the incarnation of financial corruption ignores the economic culture that has allowed him and other white-collar fraudsters to flourish. And his role in the Wall Street meltdown is poorly understood. “In some people’s […]
U.S. Charges Ex-Radio Host Who Hoped ‘Spell’ Would Stop Fraud Probe – The New York Times
U.S. authorities on Monday charged a former radio host with fraudulently raising $20 million in a scam bearing the hallmarks of a Ponzi scheme, while hoping to cast a “spell” to silence lawyers trying to investigate her. *** Prosecutors also disclosed the discovery in an Aug. 2 search of Bennett’s penthouse in Chevy Chase, Maryland, […]
Jim Barratt Joins Ankura as Managing Director
Ankura Consulting announced today the appointment of Jim Barratt as a Managing Director. Based in the Washington, DC headquarters, Mr. Barratt will join the firm’s Investigations & Accounting Advisory practice. He brings more than thirty years of experience managing projects involving corporate fraud, compliance, anti-corruption and accounting enforcement proceedings brought by the U.S. Securities and […]
The Martoma Decision: The Second Circuit Tackles Insider Trading Post-Salman | The National Law Review
The US Court of Appeals for the Second Circuit issued another landmark insider trading opinion on August 23. In United States v. Martoma, the Second Circuit loosened the standard required for the government to establish tipping liability, handing the government a significant victory in this key enforcement area. Martoma is the latest in a string […]
Petrofac Plc boss Asfari “strongly refutes” Italian insider trading charges
Petrofac Plc (LON:PFC) chief executive Ayman Asfari has said he ‘strongly refutes’ charges made against him by Italian stock market authorities relating to insider trading. The London listed oil and gas services engineering group, in a stock market statement, noted that it has been informed of administrative sanctions made against Asfari by the Italian National […]