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In this June 2013 Wall Street Journal op-ed titled “Mum’s the Word About SEC Defeats,” I called out the SEC for its troubling refusal to update its website when it loses or dismisses an enforcement case that it previously touted. After all, I argued, the agency routinely splashes its incendiary allegations of wrongdoing across its website […]
According to data compiled by ISS’s Securities Class Action Services (“SCAS”), BLB&G again was atop the “SCAS 50” rankings, with the largest average recovery amount among the top firms – nearly $145 million per case – and obtaining over $2 billion in recoveries in 2016 through 14 settlements. via SCAS Again Ranks Bernstein Litowitz Among […]
The SEC has always been quite consistent about issuing Litigation Releases about new cases and following litigation victories, but it very rarely issues Litigation Releases about its losses. Today, however, the SEC did issue an unusual Litigation Release noting its defeat last week in the high-profile Mark Cuban insider trading trial. via SEC Issues Unusual […]
More than three months ago, the Supreme Court unanimously dismissed Securities and Exchange Commission penalty claims against investment adviser Marc Gabelli because the SEC 5304.OK -11.05% took too long to file its case. But you wouldn’t know that if you monitored the case on the SEC website. You’d find the regulator’s initial fraud allegations against Mr. […]
The first in what will likely be a series of posts collecting the SEC’s efforts at wordplay related to defendants’ occupations.
Unusual cases sometimes spark SEC creativity in press releases.
Hoax press release suggested President Obama had ordered an investigation into General Mills’ supply chain.
The SEC announced today that it has charged Richard Karp with fraud for writing and disseminating a fake press release that, when reported in the media, caused a company’s stock price to spike and allowed him to make thousands of dollars in illicit profits. This marks the [insert your own large number here] time in […]
Overstock.com CEO Patrick “Yipikaye” Byrne is, umm, not impressed with the SEC’s new rules against naked short selling. Here is his “PG-13”-rated press release/rant.