‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInAirbus pays $4 billion to settle global bribery and trade offenses | The FCPA Blog
Airbus SE paid $4 billion (€3.6 billion) to settle global bribery and trade charges with French, UK, and U.S. authorities Friday after an eight-year investigation triggered by a British whistleblower. Airbus paid French national prosecutor Parquet National Financier (PNF) about €2.1 billion ($2.3 billion). It’s the biggest anti-bribery enforcement action by French authorities. via Airbus […]
Companies Fixing More Errors by Revisions Than Restatements
Companies have increasingly corrected accounting mistakes through revisions as the volume of restatements plummeted over the past decade. The informal corrections allow companies to avoid the fanfare of a full restatement with the requisite press releases and SEC filings—possibly masking a broader problem for investors. One study found that almost half of revisions had an […]
Latham Adds Distinguished White Collar Partner in New York
Latham & Watkins LLP is pleased to announce that Robert H. Hotz Jr. has joined the firm’s New York office as a partner in the Litigation & Trial Department and member of the White Collar Defense & Investigations Practice. Hotz is a seasoned litigator and trial lawyer who has broad experience advising clients on matters […]
The $2.6-billion Rakesh Jhunjhunwala, called the ‘Warren Buffett of India’, has to protect an image that was built over 35 long years
Jhunjhunwala and four of his family members were called in for questioning by the Securities and Exchange Board of India (SEBI) for alleged insider trading in Aptech, a technology education firm where they hold 49% stake since 2005. via The $2.6-billion Rakesh Jhunjhunwala, called the ‘Warren Buffett of India’, has to protect an image that […]
Insider trading law is irreparably broken – The Washington Post
It’s time to admit that insider-trading “law” is irreparably broken. I used quotation marks because — hard to believe — there has never been an actual law that defines and prohibits insider trading. Yet thousands of nonviolent offenders have been incarcerated or otherwise penalized for this undefined crime, the amorphous contours of which have shifted […]
SEC Office of Compliance Inspections and Examinations Publishes Observations on Cybersecurity and Resiliency Practices
The Securities and Exchange Commission Commission’s Office of Compliance Inspections and Examinations (OCIE) today issued examination observations related to cybersecurity and operational resiliency practices taken by market participants. The observations highlight certain approaches taken by market participants in the areas of governance and risk management, access rights and controls, data loss prevention, mobile security, incident response and resiliency, […]
Bharara Task Force on Insider Trading Publishes Report Recommending Reforms to Insider Trading Law
The Bharara Task Force on Insider Trading issued its report today making recommendations to improve and clarify U.S. insider trading laws. The report follows a year-long study conducted by the Task Force, made up of experts in the field and members of the judiciary, private practice of law, academics, and former prosecutors and regulators. In […]
SEC Charges Husband and Wife with Nearly $1 Billion Ponzi Scheme
According to the SEC’s complaint, Jeffrey and Paulette Carpoff raised approximately $910 million from 17 investors between 2011 and 2018 by offering securities in the form of investment contracts through their two solar generator companies, DC Solar Solutions Inc. and DC Solar Distribution Inc. The Carpoffs allegedly promised investors tax credits, lease payments, and profits […]
Elizabeth Holmes Phones In Her Defense After Civil Lawyers Quit
Unable to pay her lawyers in an Arizona fraud lawsuit, Elizabeth Holmes is defending herself by … phone. The former chief executive of Theranos Inc., who lives in California, appears regularly in San Jose federal court with a team of high-caliber lawyers as her criminal case over the blood-testing startup’s implosion moves toward a trial […]
Cameron Collins gets probation – and his father gets all the blame – The Buffalo News
In making the decision to put Cameron Collins on probation and not behind bars, the judge found a precedent not in a law book, but in a much older book. “I decline to adhere to the idiom that the sins of the father are visited upon the son,” Broderick said, paraphrasing a passage from the […]