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Join the Securities Litigation and Enforcement Group on LinkedInRuling means ‘pharma bro’ could get decade or more in prison
“Pharma bro” fraudster Martin Shkreli’s hopes for a light prison sentence were dealt a huge blow Monday as a judge ruled that his crimes caused a loss of $10.4 million. The ruling by Judge Kiyo Matsumoto means that federal sentencing guidelines will likely call for a prison term of up to a decade or more […]
Whistleblowers at the Supreme Court: Part I – Supreme Court Decision in Somers – Compliance ReportCompliance Report
Last week the US Supreme Court issued its decision in Digital Realty Trust v. Somers (Somers). It was a closely watched case in the compliance community as the Court had the opportunity to directly decide the question of who is a whistleblower under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). In a […]
Nasdaq to get first pot listing as Canada’s Cronos Group joins exchange – The Globe and Mail
The Nasdaq Stock Market will list its first cannabis shares on Tuesday, marking a key milestone for an industry that has been rejected by the Trump administration. Cronos Group Inc., which already trades in Canada, will be the first marijuana company on a major U.S. exchange — right alongside Nasdaq stocks such as Apple Inc., […]
Autonomy CFO trial to shine light on HP deal
Allegations of a massive fraud that rocked the UK tech scene in 2012 are finally about to get a full public airing, as the former chief financial officer of UK software company Autonomy goes on trial in San Francisco on Monday. via Autonomy CFO trial to shine light on HP deal
SEC Enforcement Priorities in the Trump Era
The actions that Securities and Exchange Commission (SEC) Chairman Jay Clayton has taken since the start of his tenure in May 2017 provide an indication of SEC priorities, including encouraging initial public offerings (IPOs) and combating abuses in cybersecurity matters. These and other priorities will have a significant impact on the SEC’s regulation and enforcement […]
Dozens of Cryptocurrency Companies Have Abandoned Their ICO Plans After Receiving SEC Phone Call | BTCMANAGER
So how does the SEC use the telephone to deter the bad guys in the fast-growing realm of ICOs? Apparently, the modus operandi is pretty simple. The folks over at SEC just pick up the telephone and call up the people behind individual ICOs. And believe it or not, the strategy has paid off. According […]
Can Kardashians Trade on Tweets? – Bloomberg
Of course if Jenner had sold Snap stock short, drove its price down with a tweet, and then covered her shorts for a quick profit, that would probably rub some people the wrong way. It is not insider trading, but is it … a vague word that is often thrown around, particularly about short sellers, is “manipulation.” […]
Partner At International Law Firm Sentenced For Insider Trading | USAO-SDNY | DOJ
Geoffrey H. Berman, the United States Attorney for the Southern District of New York, announced today that WALTER C. LITTLE, a/k/a “Chet,” a former partner at an international law firm (the “Firm”), was sentenced today to 27 months in prison for conspiring to commit insider trading from at least February 2015 through May 2016. LITTLE […]
SEC Releases Cybersecurity Disclosure Guidance | The D&O Diary
The commission’s guidance document emphasizes that threats from cybersecurity concerns have increased, as have the costs associated with cybersecurity incidents. Given the “frequency, magnitude and cost of cybersecurity incidents,” the Commission believes that is “important” that reporting companies “take all required actions to inform investors” about cybersecurity risks and incidents in a timely fashion. To […]
Fearing DLA Piper-Style Breach, DC Firms Ramp Up Cyber Defenses | National Law Journal
It’s been about eight months since a cyberattack briefly crippled the 3,600-lawyer megafirm’s operations—and nearly two years since attacks on Cravath, Swaine & Moore, Weil, Gotshal & Manges and other firms first went public. Since then, firms in the nation’s capital have quickened their behind-the-scenes efforts to thwart and respond to such attacks. Law firms that didn’t have cyber insurance immediately began purchasing […]