Monthly Archives: February 2020

Alston & Bird Welcomes Former Federal Prosecutor Joey Burby as Litigation Partner in Atlanta | News & Insights | Alston & Bird

Alston & Bird has expanded its white-collar defense and corporate investigations capabilities with the addition of former federal prosecutor Joseph Burby, who rejoins the firm as partner in Atlanta. He arrives from Bryan Cave Leighton Paisner LLP, where he was a partner for 13 years. via Alston & Bird Welcomes Former Federal Prosecutor Joey Burby as Litigation Partner in Atlanta…

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Legal Department Leak Leads to Insider Trading Charges Against AIG Employee | Corporate Counsel

Insider trading charges against a former legal department worker at an American International Group Inc. subsidiary shows how careful in-house law departments must be in guarding their confidential information. The U.S. Securities and Exchange Commission on Thursday said it reached a consent agreement with Jon Aronson, a former senior administrative assistant in the subsidiary’s legal department.  Aronson could not be…

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Morgan Stanley confirms to acquire ETrade in $13 billion all-stock deal – MarketWatch

Morgan Stanley MS, -3.32% confirmed Thursday that is acquiring E*Trade Financial Corp. ETFC, +25.06% in an all-stock deal valued at $13 billion. Morgan Stanley will pay 1.0432 of its shares for each E*Trade share, equal to $58.74 based on its closing price Feb. 19. The deal “will significantly increase the scale and breadth of Morgan Stanley’s Wealth Management franchise, and…

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Whistleblowers Finding System Stacked Against Them – Government Accountability Project

Hong, a former managing director for an RBS subsidiary, reported wrongdoing at RBS to the Securities and Exchange Commission (SEC) in 2014. He says he provided thousands of documents and internal RBS emails to investigators as part of his testimony. Hong says the SEC handed his evidence off to other agencies—the DOJ and the Federal Housing Finance Agency (FHFA) among…

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SEC Charges Global Alcohol Producer with Disclosure Failures

According to the SEC’s order, employees at Diageo North America (DNA), Diageo’s largest and most profitable subsidiary, pressured distributors to buy products in excess of demand in order to meet internal sales targets in the face of declining market conditions. The resulting increase in shipments enabled Diageo to meet performance targets and to report higher growth in key performance indicators that…

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Former SEC Trial Lawyer Haima Marlier Joins Morrison & Foerster as a Partner in New York | Morrison & Foerster

Morrison & Foerster, a leading global law firm, is pleased to announce that Haima Marlier has joined the firm in its New York office as a partner in its Securities Litigation, Securities Enforcement, and Investigations + White-Collar Defense Groups. Ms. Marlier joins Morrison & Foerster from the Enforcement Division of the New York office of the Securities & Exchange Commission…

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ISS Releases 2019 Top 100 Securities Class Action Lawsuit Settlements List | The D&O Diary

As was the case for the last two reporting years, there were relatively few larger securities class action lawsuit settlements during 2019 compared to prior years. As reported in latest large securities class action lawsuit settlement report from ISS Securities Class Action Services (ISS), there were only two settlements finalized in 2019 large enough to make the list of all…

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Trump pardons Michael Milken, grants clemency to Kerik, Blagojevich

President Donald Trump issued a pardon Tuesday to Michael Milken, the former junk bond king who was a face of the insider trading scandals of the 1980s. Trump, in announcing the pardon, cited the “incredible job” that Milken has done supporting cancer research since pleading guilty in 1990 to racketeering and securities fraud charges. Milken, 73, originally was sentenced to…

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