Author page: Securities Docket

SEC’s ‘Swiss Army’ Accounting Law Tested by Cyber Breach Charges

R.R. Donnelley & Sons Co. agreed last month to pay $2.1 million to settle Securities and Exchange Commission charges that the marketing and printing company violated disclosure and internal accounting control rules stemming from a 2021 cybersecurity breach. The settlement, which comes amid heightened SEC focus on cybersecurity, represents a new—and expansive—take on the accounting control provisions. The regulator included…

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Jury Finds Healthcare Company CEO Misled Investors Over Covid-19 Tests – WSJ

A federal jury has found SCWorx’s former Chief Executive Marc Schessel guilty for his participation in a scheme to mislead investors about the healthcare company’s procurement of Covid-19 rapid test kits. The jury convicted Schessel, who founded the company in 2012 and headed it until 2021, of two counts of securities fraud, the U.S. Attorney’s Office of the District of…

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What’s Past is Prologue: Enforcing the Federal Securities Laws in the Age of Crypto

In short, my tenure as Director has coincided with extreme volatility and investor risk in the crypto markets. This has been vividly demonstrated by the dramatic increase in the number of complaints about crypto that investors submitted to the SEC’s Office of Investor Education and Advocacy (“OIEA”), from 820 in fiscal year 2019, the first year that OIEA’s annual list…

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$20M and Still Going: Is Partner Pay a Bubble? | The American Lawyer

“It’s not like the tulip bubble or the tech bubble,” said Alisa Levin, co-founder of the legal search firm Greene-Levin-Snyder, adding that it could slow or stall but “I don’t think it’s going to burst.” Not long ago, $10 million annually was an astronomical sum for even the highest-profile lateral partners. More recently, $20 million—once “unheard of”—seemed to be the…

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Akin Expands White Collar Defense Practice with Addition of DOJ FCPA Unit Assistant Chief Gerald Moody | Akin Gump Strauss Hauer & Feld LLP

Akin is pleased to announce that Gerald Moody has joined the firm as a white collar defense & government investigations partner in Washington, D.C. Moody joins Akin from the U.S. Department of Justice (DOJ) Criminal Division’s Fraud Section, where he was an Assistant Chief of the Foreign Corrupt Practices Act (FCPA) Unit. During his time at the DOJ Fraud Section,…

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Hedge Fund Trader Aikman Gets Four-Year Jail Sentence for Faking Returns – Bloomberg

A trader in Canada received a four-year jail sentence after accepting millions of dollars from investors, then giving them false information about their returns. An Ontario court handed down the penalty to Nathanael Anthony Aikman, who pleaded guilty in November to fraud and trading securities without registration. He has also been ordered to pay restitution of more than C$3.9 million…

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Inside the Harvard Business School Ponzi Scheme

The idea sounded solid on the surface. Vlad Artamonov told prospective investors, many of them his former classmates from Harvard Business School, that he’d discovered a hidden way to learn which stocks Warren Buffett was buying early, an edge that would make him a lot of money. It involved, he said, combing through esoteric state financial disclosures and then trading…

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