‘Enforcement 40’ for 2020
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By Securities Docket on August 14, 2009, 5:06 pm
Here is the weekly summary for Securities Docket’s Web Watch (”This Week’s Best Blog Posts and Columns”)
By Securities Docket on August 14, 2009, 2:54 pm
Here are some of the more astounding sections of the SEC’s Complaint against Frank DiPascali to chew on. It is truly hard to read and contemplate many of these without shaking your head in disbelief.
By Securities Docket on August 14, 2009, 6:55 am
China: Star securities analyst faces insider trading investigation; Merrill Lynch negligent on Madoff, lawsuit states; Former Kmart CEO Conaway Asks Court to Throw Out Verdict Against Him; Reading the Greenberg Settlement Tea Leaves.
By Securities Docket on August 13, 2009, 3:35 pm
Charles Conaway, the former CEO of Kmart, asked a federal court yesterday to throw out a verdict in a civil trial that found that he misrepresented the company’s financial condition. As previously discussed here, on June 1, 2009, a jury returned a verdict in favor of the SEC on all charges in its case against […]
By Securities Docket on August 13, 2009, 11:19 am
Last week, we asked whether former AIG CEO Maurice “Hank” Greenberg had “blown up his settlement” with the SEC through comments made on his behalf following the settlement.
From the looks of things, however, it now appears that the SEC will not move to vacate the settlement based on Greenberg’s comments.
By Securities Docket on August 13, 2009, 6:55 am
Harry Markopolos: Massive CDS Scams Will Make Madoff Look “Small-Time;” Ex-AIG CEO, others to pay $115 mln to settle shareholder lawsuit; SEC Won’t File Amended Complaint Against Mark Cuban, But May Appeal Dismissal; Copy of Transcript from DiPascali Plea Hearing; Copy of Criminal Information Filed Against Frank DiPascali; Eight Years and Nine Investigations Later, Pequot Capital Receives Wells Notice From SEC; Final Judgment Entered in Lyon “PIPE” Case; Court Awards $65 Million in Attorneys’ Fees in UnitedHealth Settlement.
By Securities Docket on August 12, 2009, 2:10 pm
Eight years and nine investigations after certain trades that occurred in 2001, the SEC staff has sent Pequot Capital Management a Wells Notice notifying Pequot that it intends to recommend that the Commission bring an enforcement action against the firm. As discussed here and here in excruciating detail, the trades under investigation relate to General […]
By Securities Docket on August 12, 2009, 12:22 pm
Last week, a federal judge in the SDNY entered a final judgment against Edwin “Bucky” Lyon, IV, and various Gryphon Partners entities in an SEC insider trading case. The case, filed back in December 2006, is part of the SEC’s ongoing campaign against insider trading by hedge funds in connection with PIPE (“private investment in public equity”) offerings.
By Securities Docket on August 12, 2009, 10:36 am
In an order filed yesterday, U.S. District Judge James Rosenbaum (D. Minn.) approved the $925 million UnitedHealth settlement related to options backdating. The court also awarded plaintiffs’ counsel $65 million for its work on the case, significantly less than the $110 million sought. Lead counsel Coughlin Stoia had asked the Court to award attorneys’ fees […]
By Securities Docket on August 12, 2009, 6:55 am
Allen Stanford Hits Opposition in Quest for New Attorney; Madoff Relied on ‘Key Lieutenant,’ Old Stationery to Hide Scam; Australia: Raunchy stripper boss Steven Zielinski to deny insider trading charges; SEC Sues Madoff CFO, Provides New Details of Scam; DiPascali Agrees to “Tell All and Name Names” in Madoff Matter; On SEC Funding, Congress Must Put Up or Shut Up (or Give Up and Allow Self-Funding); Want To Be A U.S. Attorney? Here’s the Process; Madoff’s Finance Chief Charged With 10 Crimes, Including Securities Fraud; and more.