‘Enforcement 40’ for 2020
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By Securities Docket on June 28, 2019, 10:34 am
Lawyers for former pharmaceutical executive Martin Shkreli will urge a federal appeals court on Friday to overturn his criminal conviction for defrauding investors in hedge funds he founded. via Federal court to hear ‘Pharma Bro’ Martin Shkreli’s appeal – Reuters.
By Securities Docket on June 27, 2019, 11:35 am
Over the course of 12 years, Charles Kokesh quietly misappropriated more than $30 million from investors, a jury found in 2014. Kokesh, now 71, cultivated some expensive and unusual hobbies, such as importing Argentine polo ponies and participating in cowboy-style shooting competitions, according to trial testimony. But the really unusual part of the story is […]
By Securities Docket on June 27, 2019, 11:31 am
This is mostly a theory of U.S. law. It is also not an exactly accurate statement of U.S. law, and sometimes courts actually reject everything-is-securities-fraud theories, but it is a good practical tool for predicting whether a scandal at a U.S. public company will lead to a securities-fraud lawsuit. It always predicts that the answer will be “yes,” and […]
By Securities Docket on June 27, 2019, 9:32 am
The Securities and Exchange Commission today announced that SEC Chief of Staff Lucas Moskowitz will leave the agency in early August and will return to the private sector. Mr. Moskowitz has served in various roles in the federal government for nearly a decade, including more than five years at the SEC. He was named Chief of […]
By Securities Docket on June 25, 2019, 11:40 am
A Melbourne man has been sentenced to three years imprisonment after hacking a financial publisher’s system and engaging in insider trading. IT consultant Steven Oakes today pleaded guilty to 11 charges of insider trading, unauthorised access to data with the intention to commit a serious offence, and the alteration of electronic devices required by the […]
By Securities Docket on June 24, 2019, 10:45 am
Andrew D. Goldstein is joining Cooley as a litigation partner in the firm’s Washington, DC, and New York offices. He arrives from the Special Counsel’s Office at the US Department of Justice, where he served as senior assistant special counsel. Goldstein also is the former chief of the public corruption unit of the US Attorney’s […]
By Securities Docket on June 24, 2019, 10:41 am
A former SAC Capital Advisors LP fund manager had his conviction for insider trading tossed out after a judge said current law no longer supports his guilty plea. Richard S. Lee pleaded guilty in 2013 days before SAC Capital was indicted for orchestrating a massive insider-trading scheme. Lee, who cooperated with prosecutors before seeking to […]
By Securities Docket on June 24, 2019, 10:40 am
Walmart Inc said on Thursday it will pay $282 million to settle a seven-year-long investigation into whether its overseas units in Mexico, Brazil, China and India violated the U.S. Foreign Corrupt Practices Act. The retailer will pay more than $144 million to settle charges by the Securities and Exchange Commission and about $138 million to […]
By Securities Docket on June 24, 2019, 10:39 am
Unless the Supreme Court or Congress intervenes, some SEC defendants will have access to federal court juries and some will not despite similar allegations and punishments put forth by the SEC. via SEC’s In-House Judge System Denies Access to Juries | ThinkAdvisor.
By Securities Docket on June 24, 2019, 10:36 am
Robert Jackson, one of the Securities and Exchange Commission’s four commissioners, said the agency should consider publishing new guidance on chief executives’ use of social media platforms such as Twitter and Facebook, in the wake of controversies involving Tesla founder Elon Musk. “Without prejudging a particular matter, it might be time for us to come […]