Subscribe
‘Enforcement 40’ for 2020
Our Sponsors
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedInLorenzo: A Win for the SEC and All Plaintiffs – SEC ACTIONS
The Court’s conclusion creates the expansive version of primary liability the SEC has sought for years. Perhaps ironically, the scheme liability theory the agency created in an effort to reach its goal was largely ignored by the Court. Rather, the opinion crafted by Justice Breyer is little more than a reiteration of Central Bank. There […]
The SEC is Reading Your Hot Takes: The Pitfalls of Material Misrepresentations Following Negative News | Arent Fox
On March 12, 2019, the Securities and Exchange Commission announced it charged Lumber Liquidators Holdings Inc. with securities fraud for making fraudulent misstatements to investors. The charges illustrate the perennial danger of misleading filings and highlight the SEC’s scrutiny over responses to negative press. In light of this enforcement, the consequences of hastily — or fraudulently […]
Supreme Court backs SEC, rules against investment banker
The U.S. Supreme Court reinforced the Securities and Exchange Commission’s powers, upholding sanctions against an investment banker found to have duped investors about a startup company’s financial condition. The justices, voting 6-2, said Francis V. Lorenzo, who worked at Charles Vista, could be held liable for taking part in a scheme to defraud investors even […]
David Baazov Fires Back Against AMF With $2M Lawsuit
Former Amaya CEO David Baazov has opened a $2 million lawsuit against Quebec’s securities regulator in response to the insider trading lawsuit those authorities pursued unsuccessfully against him beginning in 2016. Baazov says that L’Autorite des marches financiers (AMF) acted maliciously when it accused him of leaking privileged information to aid insider trading and manipulate […]