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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInElon Musk Trial Win a ‘Non Sequitur’ in Twitter Sitter Case, SEC Says – Bloomberg
Musk’s lawyer argued to the appeals court that the San Francisco verdict confirms that Musk’s tweets didn’t violate securities laws. Investors had sued Musk over the “funding secured” tweet, claiming he defrauded them. A federal jury took just two hours to clear him, sending shares of the electric car maker surging. That verdict is irrelevant, […]
SEC Insider Trading Trial Loss Over Gartner Deal Overturned
The SEC convinced an appeals court that jurors should’ve had a chance to decide whether a Virginia mortgage broker traded on inside information regarding a Gartner acquisition, unwinding a rare agency loss in an insider trading case. Based on evidence the Securities and Exchange Commission presented during a 2021 trial, jurors could have reasonably concluded […]
Sam Bankman-Fried hit with fresh indictment, more charges | Fox Business
Sam Bankman-Fried is facing more federal charges after the U.S. Attorney’s Office for the Southern District of New York filed a superseding indictment unsealed Thursday that could mean decades more prison time for the FTX founder if he is found guilty. The new indictment — which is the third from the SDNY and replaces the […]
A. Valerie Mirko Joins Armstrong Teasdale in Washington, D.C.
Armstrong Teasdale announces the addition of Partner A. Valerie Mirko to the firm’s Washington, D.C., office. She joins a roster of more than 750 lawyers and staff professionals across Armstrong Teasdale’s 17 offices internationally. Mirko joins the firm as co-leader of the Securities Regulation and Litigation practice area and represents broker-dealers, asset managers — including […]
SEC Charges Ozy Media and its CEO Carlos Watson with Widespread Scheme to Defraud Investors
The Securities and Exchange Commission today charged media and entertainment company Ozy Media Inc., its CEO Carlos R. Watson, Jr., its former COO Samir Rao, and its former Chief of Staff Suzee Han with defrauding investors of approximately $50 million through repeated misrepresentations concerning the company’s basic financial condition, business relationships, and fundraising efforts. Rao […]
SEC Charges Cousins for Insider Trading in Kodak Stock Ahead of Company’s Planned Govt. Partnership to Assist in Response to COVID-19
The Securities and Exchange Commission today charged Andrew Stiles for insider trading in the stocks of Eastman Kodak Company and Novavax, Inc. based on nonpublic information related to both companies’ planned government partnerships to assist in the fight against COVID-19 at the height of the pandemic. The SEC also charged Andrew Stiles’ cousin, Gray Stiles, […]
Reed Smith adds distinguished white collar partner Evan Barr in New York | News | Reed Smith LLP
Reed Smith today announced the addition of Evan Barr as a partner in its Regulatory and Investigations Group. A seasoned litigator and respected trial lawyer, Barr represents individuals and companies in complex investigations and enforcement actions brought by, among others, the Department of Justice, the SEC and the Manhattan District Attorney’s Office. He will work […]
NBA-Branded ‘Top Shot Moments’ NFTs May Be Securities, Judge Rules in Dapper Labs Case
The offering of Dapper Labs’ NBA-branded “Top Shot” non-fungible tokens might be securities, a federal judge ruled Wednesday. The ruling on a motion to dismiss comes a year and a half after a class-action lawsuit was filed against Dapper Labs and its CEO, Roham Gharegozlu, in New York. The lawsuit alleges Gharegozlu and Dapper Labs […]
PCAOB Enforcement Activity Up Sharply in 2022, with Highest Monetary Penalties Imposed in the Board’s History – Cornerstone Research
The Public Company Accounting Oversight Board (PCAOB) increased its enforcement activity sharply in 2022, disclosing the most enforcement actions in five years, and handing down the highest monetary penalties since its establishment in 2002, according to a new report released today by Cornerstone Research. The report, PCAOB Enforcement Activity—2022 Year in Review, found that in […]
Cadwalader Adds White Collar Defense Partner Gina Castellano | Cadwalader
Cadwalader, Wickersham & Taft LLP today announced that Gina Castellano, who served most recently as an Assistant United States Attorney for the Southern District of New York, has joined the firm’s White Collar Defense and Investigations practice as a partner in New York. Castellano brings to Cadwalader years of experience prosecuting white collar cases as […]