Daily Archives: February 6, 2024, 6:19 pm

SEC Charges China-Based Tech Company Cloopen Group with Accounting Fraud

The Securities and Exchange Commission today announced settled accounting fraud charges against Cloopen Group Holding Limited, a China-based provider of cloud communications products and services whose American depositary shares formerly traded on the New York Stock Exchange. The SEC determined not to impose civil penalties against Cloopen because the company self-reported its accounting issues, cooperated extensively with the staff’s investigation,…

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Former FINRA Director Jackie Wells Joins McGuireWoods’ Securities Enforcement Team | McGuireWoods

McGuireWoods continues the expansion of its nationally recognized Securities Enforcement and Regulatory Counseling Practice with the arrival of counsel Jackie Wells, who joins the firm after serving as a director in the Enforcement Department of the Financial Industry Regulatory Authority (FINRA). Source: Former FINRA Director Jackie Wells Joins McGuireWoods’ Securities Enforcement Team | McGuireWoods

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Samsung’s Lee Jae-yong Acquitted in Stock, Accounting Fraud Case – The New York Times

A South Korean court on Monday acquitted Lee Jae-yong, Samsung’s top executive, on charges of stock price manipulation and accounting fraud, the latest twist in the billionaire’s legal troubles tied to a merger that helped him secure control of the nation’s largest company. A Seoul district court judge said that there was not enough evidence to prove the prosecutors’ charges…

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Ex-Clifford Chance Lawyer Cleared in London Insider Trading Case – Bloomberg

An ex-Clifford Chance lawyer, who was on trial with his former-Goldman Sachs Group Inc. analyst brother for insider trading, was acquitted of all charges by a London jury. Lawyer Suhail Zina and his younger brother Mohammed Zina were charged with insider trading and fraud. Both denied the allegations. The trial against Suhail was dropped last week while the trial against…

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Ripple Must Share Financial Statements, XRP Institutional Sales Data, Court Rules on SEC Request

The SEC request, made in early January, follows a pivotal judgment in the lawsuit that accuses the crypto firm of selling unregistered securities in the country. Judge Analisa Torres’ ruling last July that only Ripple’s institutional sales of XRP broke U.S. law was celebrated by the crypto industry as a victory in its efforts to clarify how regulators treat digital…

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Mark Zuckerberg Lives Dangerously – Bloomberg

“Is jiu-jitsu securities fraud,” I asked in this column a few months ago, because that is kind of my schtick. Specifically, Mark Zuckerberg, the chief executive officer of Meta Platforms Inc., likes to do mixed martial arts, and he occasionally gets injured doing so. If he got badly injured, that might be bad for Meta’s stock price. If that were…

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BakerHostetler Deepens White Collar Practice in Atlanta With Addition of Former Federal Prosecutor | BakerHostetler

Jennifer (Jenna) Solari joins BakerHostetler’s Atlanta office as a partner in the firm’s national Litigation Practice Group and a member of the White Collar, Investigations and Securities Enforcement and Litigation team. A former federal prosecutor, Solari was with the United States Attorney’s Office for more than a decade. In her role as an assistant U.S. attorney in the Southern District…

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