Subscribe
‘Enforcement 40’ for 2020
Our Sponsors
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedInFormer US prison employee to admit to accepting payments from Rajaratnam -source | Reuters
Starting in 2018, Tidwell began receiving undisclosed benefits from Rajaratnam and a close friend and business associate of Rajaratnam, according to charging papers and the person familiar with the matter. Those benefits included $25,000 to help pay off loans for a family member and more than $65,000 in fees and other benefits stemming from an […]
US Dismisses Charges Against ‘King of Political Intelligence’
US prosecutors and a man known as “King of Political Intelligence” for allegedly passing secret government information to traders arrived at an agreement under which securities fraud charges against him will be dropped. As long as David Blaszczak, a Washington consultant and former Medicare official, complies with the deferred prosecution agreement for three months, the […]
He Went to Prison for Crypto Crime. Now He’s an Advocate for Compliance. – WSJ
As crypto entrepreneurs such as FTX co-founder Sam Bankman-Fried and former Celsius CEO Alex Mashinsky face criminal allegations of misconduct and possibly prison time, one of the Justice Department’s earliest collars has a message for today’s players: Get compliant. Charlie Shrem was an early apostle of cryptocurrency, earning millions of dollars trading bitcoin and treated […]
Judge in FTX Case Orders Gag on Contact with Media
A federal judge is considering forbidding “parties and witnesses” in the FTX case from speaking to the media, days after the U.S. Department of Justice alleged that FTX founder Sam Bankman-Fried leaked private documents from one of his co-conspirators to the press, according to court filings. The proposed order, filed Monday, comes as the DOJ […]
UBS Is Fined Nearly $400 Million in Credit Suisse’s Archegos Mess – The New York Times
UBS will pay $387 million in fines to clean up lingering messes at Credit Suisse, the wounded Swiss banking rival it acquired this year. The fines, issued concurrently by regulators in the United States and Britain, are related to Credit Suisse’s acknowledged “fundamental failure of management and controls” in 2020 and 2021, which led to […]
Everything is securities fraud
If a beer company sends beer to a transgender influencer and right-wing influencers get mad about it and boycott the beer, is that securities fraud? Buddy everything is … well, technically this is a shareholder derivative action for breach of fiduciary duty, and more technically it’s just a guy talking about a shareholder derivative action, […]
US court orders law firm Covington to name some clients for SEC probe | Reuters
Covington & Burling must identify some clients caught up in a 2020 hack on the law firm to the U.S. Securities and Exchange Commission, a federal judge in Washington ruled on Monday in a case that could impact future cyberattack investigations. U.S. District Judge Amit Mehta ordered Covington to give the SEC the names of […]
SEC Chair Gensler Testifies on Appropriations : TheCorporateCounsel. net Blog
Gensler spoke in support of the President’s FY 2024 request of $2.436 billion for SEC operations. He noted that FY 2023 funding would bring the agency’s staffing back above where it was seven years ago, and the agency is continuing to work to fill 400 new positions. Gensler notes that the SEC is expected to […]
Number of Securities Class Action Filings Increased in First Half of 2023
The number of securities class action filings increased in the first half of 2023, according to a report released today by Cornerstone Research and the Stanford Law School Securities Class Action Clearinghouse. The report, Securities Class Action Filings—2023 Midyear Assessment, found that plaintiffs filed 114 securities class actions in federal and state courts in the first half […]
SEC Signals Appeal to Crypto Ripple Ruling in Terra Response – Bloomberg
The ruling in the Ripple case concluded that sales of Ripple’s XRP token directly to institutional investors violated the SEC’s rules, but offerings to retail investors on exchanges didn’t, delivering what was widely seen as a victory to the crypto industry. The SEC, in a fresh filing in its lawsuit against crypto company Terraform Labs […]