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Securities Litigation and…

Securities Litigation and Regulatory Enforcement Blog

Covers SEC investigations, insider trading, derivative actions, white collar defense, and whistleblowers. By Orrick, Herrington & Sutcliffe LLP.

http://blogs.orrick.com/securities-litigation/

Jun 18
Fannie and Freddie Shareholders to US: 2008 Government Takeover of Mortgage Giants Good For the Country; Not So Much For U

Fannie and Freddie Shareholders to US: 2008 Government Takeover of Mortgage Giants Good For the Country; Not So Much For U

Can shareholders of a government-sponsored enterprise successfully challenge the constitutionality of a government takeover of the entity? Shareholders of Fannie Mae and Freddie Mac will try to do so in a $41 billion class action…
Jun 14
Do Trades Made Pursuant to 10b5-1 Plans Still Offer A Defense to Insider Trading?

Do Trades Made Pursuant to 10b5-1 Plans Still Offer A Defense to Insider Trading?

Rule 10b5-1, enacted in August 2000, codified the SEC’s position that trading while in possession of material non-public information is sufficient to establish liability for insider trading. The rule also provided an affirmative defense…
Jun 13
Recent Study Finds Cybersecurity Disclosures May Fail to Meet SEC Guideline

Recent Study Finds Cybersecurity Disclosures May Fail to Meet SEC Guideline

Hackers aren’t the only ones after company information. Earlier this week, Wills Fortune 500, a unit of Wills Group Holdings, a global insurance broker providing insurance and risk management services, made available its own report…

Rank this Week: 40

William Carleton, Counselor @ Law

Covers legal and investment issues facing emerging tech companies.

http://www.wac6.com/wac6/

Jun 19
The history of investment crowdfunding, part one

The history of investment crowdfunding, part one

Kiran Lingam writes the first chapter. Or is it simply the preface?
Jun 18
The accredited investor definition, after the Supreme Court strikes down DOMA

The accredited investor definition, after the Supreme Court strikes down DOMA

Pivoting the startupequality.org campaign, in anticipation of what the Supreme Court is expected to say about DOMA.
Jun 17
Non-accredited investment crowdfunding in North Carolina this summer?

Non-accredited investment crowdfunding in North Carolina this summer?

Promoters of investment crowdfunding legislation report progress on Crowdsourcing.org.

Rank this Week: 42

The D & O Diary

News and commentary on Directors and Officers Liability. By Kevin M. LaCroix.

http://www.dandodiary.com/

Jun 19
The Curse of Post-Close Merger Objection Litigation

The Curse of Post-Close Merger Objection Litigation

There days, virtually every M&A transaction attracts litigation, usually involving multiple lawsuits. These cases have proven attractive to plaintiffs’ lawyers because the pressure to close the deal affords claimants leverage to…
Jun 18
A Critical Question Directors Should Be Asking Company Management About Cyber Risk

A Critical Question Directors Should Be Asking Company Management About Cyber Risk

Cyber security and related privacy issues increasingly dominate the headlines. And for good reason: according to statistics cited in a recent Wall Street Journal article, cyber attacks --ranging from malicious software to denial of…
Jun 17
Guest Post: J.P. Morgan Decision Curtails the Phantom "Restitution Defense" to D&O Coverage

Guest Post: J.P. Morgan Decision Curtails the Phantom "Restitution Defense" to D&O Coverage

As I discussed in a recent post (here), in a June 11, 2013 opinion, the New York Court of Appeals held that J.P Morgan (which had acquired Bear Stearns) is not barred from seeking insurance coverage for a $160 million portion of an SEC…

Rank this Week: 99

Jim Hamilton's World of Securities…

Jim Hamilton's World of Securities Regulation

Commentaries on security regulation.

http://jimhamiltonblog.blogspot.com/

Jun 19
Bi-Partisan Senate Legislation Would Delink Federally Insured Banks from Derivatives Dealers and Other Non-Bank Subsidiaries as Part of TBTF

Bi-Partisan Senate Legislation Would Delink Federally Insured Banks from Derivatives Dealers and Other Non-Bank Subsidiaries as Part of TBTF

Bi-partisan legislation introduced by Senators Sherrod Brown (D-OH) and David Vitter (R-LA) seeks to end too big to fail and protect federally insured financial institutions from being linked to securities underwriters and derivatives…
Jun 19
Senate Legislation Would Extend to Thrifts the JOBS Act Shareholder Thresholds for SEC Registration

Senate Legislation Would Extend to Thrifts the JOBS Act Shareholder Thresholds for SEC Registration

Senators Pat Toomey (R-PA) and Mark Pryor (D-AR) have introduced bi-partisan legislation that would extend to savings and loan institutions the JOBS Act shareholder thresholds for SEC registration and deregistration. The Holding Company…
Jun 16
House Passes Legislation Codifying Dodd-Frank Deruvatives End User Exemption and Ending Indemnification

House Passes Legislation Codifying Dodd-Frank Deruvatives End User Exemption and Ending Indemnification

The House of Representatives has passed by an overwhelming bipartisan vote of 411-12 H.R. 634, the Business Risk Mitigation and Price Stabilization Act, which codifies an exemption for non-financial end users that use derivatives in their…

Rank this Week: 112

Securities Law Prof Blog

Covers securities arbitration, state securities law, court decisions and law review articles. By Professor Barbara Black.

http://lawprofessors.typepad.com/securities/

Jun 19
SEC Chair Says Agency Will Require Admissions in Some Settlement

SEC Chair Says Agency Will Require Admissions in Some Settlement

It has been widely reported that SEC Chair White stated that the agency will seek admissions in settlements in certain cases, because "public accountability in particular kinds of cases can be quite important." Reuters, UPDATE…
Jun 18
Deloitte Agrees to One-Year Suspension from Consulting Work at New York Financial Institution

Deloitte Agrees to One-Year Suspension from Consulting Work at New York Financial Institution

Deloitte Financial Advisory Services agreed to a one-year suspension from consulting work at financial institutions regulated by the New York State Dept. of Financial Services because of alleged misconduct during its consulting work at…
Jun 18
Schwartz on Crowdfunding

Schwartz on Crowdfunding

Crowdfunding Securities, by Andrew A. Schwartz, University of Colorado Law School, was recently posted on SSRN. Here is the abstract: A new federal statute authorizes the online "crowdfunding" of securities, a new idea based on the…

Rank this Week: 132

Ponzitracker

Covers Ponzi schemes. By Jordan Maglich.

http://www.ponzitracker.com/

Jun 18
Guilty Plea in $600 Million Prepaid-Funeral Ponzi Scheme

Guilty Plea in $600 Million Prepaid-Funeral Ponzi Scheme

A St. Louis woman has pled guilty to her role in a massive Ponzi scheme that billed itself as a nationwide leader in the sale of prearranged funerals. Sharon Nekol Province, 69, of Baldwin, Missouri, entered into a plea agreement…
Jun 13
Six Years Later, Boy Band Founder's Ponzi Scheme Victims Set For 4% Payout

Six Years Later, Boy Band Founder's Ponzi Scheme Victims Set For 4% Payout

Photo: AP Photo/ John RaouxMore than six years after his $300 million Ponzi scheme collapsed, victims of former boy band mogul Lou Pearlman's scheme are set to receive an initial payout of just four cents on the dollar. In a…
Jun 13
New Zealand's 'Madoff' Charged With Country's Largest Ponzi Scheme

New Zealand's 'Madoff' Charged With Country's Largest Ponzi Scheme

A New Zealand fund manager was charged with masterminding a $320 million Ponzi scheme which, if true, would rank as the largest Ponzi scheme in New Zealand's history. David Ross, 63, was charged with four counts of false accounting and…

Rank this Week: 161

The White Law Group's Securities…

The White Law Group's Securities Fraud Blog

Covers securities fraud cases, investment fraud practices and securities industry regulations.

http://www.whitesecuritieslaw.com/securities-fraud/blog/

Jun 19
Recovery of Ponzi Scheme Investment Losse

Recovery of Ponzi Scheme Investment Losse

Have you suffered losses as a result of your dealings with Maxwell B. Smith and Health Care Financial Partners? If so the securities attorneys of The White Law Group may be able to help. According to reports, New Jersey financial advisor and…
Jun 13
Recovery of Noble Royalties Investment Losse

Recovery of Noble Royalties Investment Losse

Have you suffered substantial losses in your investment with Noble Royalties? If so, the securities fraud attorneys at The White Law Group may be able to help you recover your losses. According to Noble Royalties website, the company…
Jun 13
Will the bond bubble burst?

Will the bond bubble burst?

When disclosing the risk of a particular bond offering, a financial advisor must make the investor fully aware of the following risks associated with all bonds: (1) Inflationary risk – i.e., the risk that fixed-income investments…

Rank this Week: 165

The Race to the Bottom

A faculty-student collaboration on corporate governance. By Professor J. Robert Brown, Jr.

http://www.theracetothebottom.org/home/

Jun 19
The Management Friendly Nature of Delaware Decisions: In re MFW Shareholders Litigation (Director Independence and the Public Company Exception)(Part 2A)

The Management Friendly Nature of Delaware Decisions: In re MFW Shareholders Litigation (Director Independence and the Public Company Exception)(Part 2A)

We are discussion In re MFW Shareholders Litigation. Before the court could decide to abandon the fairness analysis in the context of a transaction between a controlling shareholder and the company, it first had to consider the benefits…
Jun 18
The Management Friendly Nature of Delaware Decisions: In re MFW Shareholders Litigation (Part 1)

The Management Friendly Nature of Delaware Decisions: In re MFW Shareholders Litigation (Part 1)

Back in the 1980s, Delaware courts occasionally pushed the law in a direction that was at least arguably favorable to shareholders. Van Gorkom placed renewed emphasis on the duty of care and the need for directors to be informed. …
Jun 17
Investors’ Powers to Challenge Board Composition Goes to Court

Investors’ Powers to Challenge Board Composition Goes to Court

Starboard Value LP recently took an interesting step in its battle to get its slate of directors on the board of Office Depot Inc. On June 13th Starboard Value sued Office Depot for not holding an annual shareholder meeting to elect…

Rank this Week: 180

The Law Planet Blog

Discusses investment, labor, and employment law, as well as securities arbitration, stockbroker issues, and legal technology. By LaBovick Law Group.

http://www.thelawplanetblog.com/

Jun 19
Establishing Children as Co-Trustees of a Revocable Trust

Establishing Children as Co-Trustees of a Revocable Trust

One of the more difficult decisions to make when communicating wishes to your estate planning attorney is choosing a trustee for a revocable trust. I have a number of clients who named two or more of their children as co-trustees of a…
Jun 18
Social Security Disability Benefits Available for Mental Illne

Social Security Disability Benefits Available for Mental Illne

When people first think of Social Security disability they think of the injured factory worker or coal miner who is reaching retirement age and can no longer perform his/her physically demanding occupation. But there is a whole other group…
Jun 14
Is Palm Beach County's Growth Plan Too Conservative?

Is Palm Beach County's Growth Plan Too Conservative?

If you live in South Florida, you have noticed the expansion of residential communities extending westward past the Florida Turnpike. Palm Beach County has grown exponentially since the 80’s, and highly concentrated populations now live…

Rank this Week: 255

Business Blog

Covers business law, labor & employment, real estate and securities and finance topics. By Scarinci Hollenbeck.

http://www.businesslawnews.com/

Jun 19
NJ Court Rules Building Owner Not Responsible for Safety of Water Supply

NJ Court Rules Building Owner Not Responsible for Safety of Water Supply

New Jersey’s Appellate Division recently ruled that a building owner could not be held liable when an employee contracted Legionnaires' disease from the building’s water supply. The case, Vellucci v. Allstate Insurance Company,…
Jun 18
NY and NJ Employment Law: Use of Temporary Workers Has Legal Risk

NY and NJ Employment Law: Use of Temporary Workers Has Legal Risk

U.S. companies are found to increasingly rely upon “temporary” workers to fill out their workforces. In fact, there are 2.86 million temporary and “contract” workers likely hard at work right now in companies across…
Jun 17
DOL Provides Updated Guidance on Notice of Exchange Required by PPACA

DOL Provides Updated Guidance on Notice of Exchange Required by PPACA

The Patient Protection and Affordable Care Act (PPACA) imposes a number of new obligations on New York and New Jersey employers. One of the most significant notification requirements involves the health insurance marketplaces that will be…

Rank this Week: 258

Startup Law Blog

Covers legal and regulatory developments in startup, securities law and regulation. By Joe Wallin.

http://startuplawblog.com

Jun 19
Discounted Stock Options and Section 409A: A Cautionary Tale

Discounted Stock Options and Section 409A: A Cautionary Tale

Guest Post By Scott Usher of Bader Martin, P.S. In the startup ecosphere, stock options are commonplace. They’re one way young companies can compensate for sweat equity and lower-than-market salaries or consulting fees, and generally…
Jun 10
Incorporating an LLC

Incorporating an LLC

By Joe Wallin and Scott Usher of Bader Martin, P.S. It is not uncommon for founders to start their companies as LLCs and then want to or need to incorporate or convert to a corporation later. Incorporating an LLC does not have to be a…
Jun 10
A Story

A Story

A Story I am in the middle of a Rule 506 all accredited investor offering. One of the folks who wants to invest in my company was stumped at my accredited investor questionnaire. He earns $175,000 a year. He doesn’t have a $1M net…

Rank this Week: 282

Stock Broker Fraud Blog

Covers broker fraud, investor fraud, marketing timing, and securities fraud. By Shepherd Smith & Edwards.

http://www.stockbrokerfraudblog.com/

Jun 18
Ponzi Scam Result in SEC Charges For Two Dallas-Based Broker-Dealer

Ponzi Scam Result in SEC Charges For Two Dallas-Based Broker-Dealer

The Securities and Exchange Commission has filed charges against two Global Corporate Alliance executives based in Dallas for running an alleged $10 million Texas Ponzi scam and defrauding at least 80 investors. The regulator claims that…
Jun 14
Radio Host Dave Ramsey and Financial Advisers Get Into Twitter Fight

Radio Host Dave Ramsey and Financial Advisers Get Into Twitter Fight

Dave Ramsey, a well-known radio host, recently got into a twitter war with fee-only financial advisers. The advisers had criticized the radio personality, who is also an author, for telling his readers to expect a 12% investment return and…
Jun 12
Brokerage Firms Change Hands as Insurers Divest In House Securities Firms, While REIT Manager Schorsch Buys First Allied Securitie

Brokerage Firms Change Hands as Insurers Divest In House Securities Firms, While REIT Manager Schorsch Buys First Allied Securitie

Symetra Financial Corp. (SYA), an insurance company, is leaving the independent brokerage business after it sells its broker-dealer Symetra Investment Services Inc. to Manulife Financial Corp. (MFC) unit John Hancock Financial Services Inc.…

Rank this Week: 296

California Corporate & Securities…

California Corporate & Securities Law

Covers California securities law, corporate governance, mergers & acquisitions and securities litigation. By Keith Paul Bishop.

http://www.calcorporatelaw.com/

Jun 19
Client Secrets Must Be Kept Even When Not Privileged

Client Secrets Must Be Kept Even When Not Privileged

Yesterday, I discussed whether an SEC attorney might commit an ethical violation by encouraging an attorney to disclose her client’s confidences. That discussion was prompted by a recent posting by Lawrence A. West addressing…
Jun 18
Does An SEC Attorney Commit An Ethical Violation By Encouraging Whistleblowing Lawyers?

Does An SEC Attorney Commit An Ethical Violation By Encouraging Whistleblowing Lawyers?

The Harvard Law School Forum on Corporate Governance and Financial Regulation included a comprehensive post by Lawrence A. West which tackles the question of whether attorneys can be award seeking whistleblowers. I want…
Jun 17
FTB Fights Underground Regulation Determination – Why Won’t It Simply Do What’s Right?

FTB Fights Underground Regulation Determination – Why Won’t It Simply Do What’s Right?

Just last week, the California Taxpayers Association reported: For at least several months, the Franchise Tax Board has been sending filing enforcement notices to nonresidents of California, including many foreign nonregistered…

Rank this Week: 313

FinancialCounsel

Features podcasts on compliance, employment and industry intelligence for investment professionals and investment, planning and regulatory intelligence for investors. By James J. Eccleston.

http://financialcounsel.typepad.com/financialcounsel/

Jun 19
FINRA Panel Sets $18.5 Million Award Against WFP Securitie

FINRA Panel Sets $18.5 Million Award Against WFP Securitie

On May 30, 2013, a FINRA arbitration panel issued an $18.5 million award against WFP Securities Corp. in connection with its sales of Provident Royalties, LLC (“Provident Royalties”). WFP Securities which went out business in…
Jun 17
Allied Beacon’s Financial Health in Question

Allied Beacon’s Financial Health in Question

Allied Beacon Partners Inc. (“Allied Beacon”) has informed its financial advisers that the firm is in violation of industry rules requiring that sufficient capital be kept on hand to remain open for business. Reps no longer can…
Jun 4
Eccleston Law Offices, P.C. Investigates Mark Morrow, Angelo Alleca and Landmark Investment Group

Eccleston Law Offices, P.C. Investigates Mark Morrow, Angelo Alleca and Landmark Investment Group

The attorneys at Eccleston Law Offices, P.C. have launched an investigation of claims involving Mark Morrow, Angelo Alleca and Landmark Investment Group. Recently, the Securities and Exchange Commission has alleged that Morrow issued…

Rank this Week: 317

Securities Attorneys Law Blog

Covers securities class action litigation and FINRA arbitrations, SEC regulatory developments and FINRA disciplinary decisions. By Jay Eng.

http://securitiesattorneys.us/

Jun 13
SEC Issues Pump & Dump Stock Scam Warning

SEC Issues Pump & Dump Stock Scam Warning

The SEC issued an interesting alert concerning pump and dump stock emails today: Pump-and-dump promoters frequently claim to have “inside” information about an impending development. Others may say they use an…
Jun 9
Investment News Reports That Arbitration Awards In Favor of Customers in Tenant-in-Common Exchange Sales Hold Steady

Investment News Reports That Arbitration Awards In Favor of Customers in Tenant-in-Common Exchange Sales Hold Steady

The Investment News is reporting that arbitration awards in favor of brokerage firm customers concerning sales of tenant-in-common investments are holding steady. According to the article: The number of arbitration awards won by…
Jun 9
Special Risks with Trading on Margin

Special Risks with Trading on Margin

FINRA has issued an investor alert concerning investments purchased “on margin.” A “margin” account allows an investor to borrow money from a brokerage account to purchase additional securities. This loan…

Rank this Week: 392

SEC Lawyers Blog

Covers stock fraud. By Sonn & Erez, PLC.

http://www.seclawyersblog.com/

Jun 19
Sonn|Erez Continues to Pursue Claims Against NFP Securities, Inc., For Investments in Speculative Hennessey Financial Monthly Income Fund, LP, a/k/a Capital Solutions and True North Finance

Sonn|Erez Continues to Pursue Claims Against NFP Securities, Inc., For Investments in Speculative Hennessey Financial Monthly Income Fund, LP, a/k/a Capital Solutions and True North Finance

Sonn|Erez continues to pursue FINRA arbitration claims against NFP Securities, Inc., on behalf of investors who made investments in the speculative Hennessey Financial Monthly Income Fund, LP also known as Capital Solutions Monthly Income…
Jun 18
FINRA Censures, Fines Douglas Evan Greenberg (Lake Oswego, Oregon) for Unauthorized Trade

FINRA Censures, Fines Douglas Evan Greenberg (Lake Oswego, Oregon) for Unauthorized Trade

Douglas Evan Greenberg (CRD #2298830, Registered Representative, Lake Oswego, Oregon) submitted a Letter of Acceptance, Waiver and Consent in which he was censured and fined $10,000. See FINRA Case #2011027368802. Greenberg is registered with…
Jun 18
FINRA Fines, Suspends Raymond James Broker Theodore Edward Williams, Jr. (Lake Forest, Illinois) for Unauthorized Trade

FINRA Fines, Suspends Raymond James Broker Theodore Edward Williams, Jr. (Lake Forest, Illinois) for Unauthorized Trade

Theodore Edward Williams Jr. (CRD #468315, Registered Representative, Lake Forest, Illinois) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any…

Rank this Week: 401

Securities Law Practice Center

Covers news, analysis and resources in the securities field. By the Practicing Law Institute (PLI).

http://seclawcenter.pli.edu

Apr 5
Tweet This! SEC Addresses Application of Regulation FD to Social Media

Tweet This! SEC Addresses Application of Regulation FD to Social Media

On April 2nd, the SEC issued a report of investigation that makes clear public companies may use social media such as Twitter and Facebook to announce information in compliance with Regulation FD as long as the companies made investors aware…
Apr 3
Simpson Thacher: March Securities Law Alert

Simpson Thacher: March Securities Law Alert

We are pleased to share the most recent edition of the Simpson Thacher Securities Law Alert, edited by litigation Partners Jonathan Youngwood, Peter Kazanoff, and Paul Gluckow. The following is a summary of the March 2013 edition of the…
Apr 1
Delaware Court of Chancery Enjoins Board from Resisting Insurgent Director Slate

Delaware Court of Chancery Enjoins Board from Resisting Insurgent Director Slate

In Kallick v. SandRidge Energy, Inc. the Delaware Court of Chancery preliminarily enjoined the board of SandRidge Energy, Inc. from impeding a consent solicitation by one of the Company’s largest stockholders to replace the incumbent…

Rank this Week: 417

TheCorporateCounsel.net Blog

Covers corporate and securities law. By Broc Romanek.

http://www.thecorporatecounsel.net/Blog/

Jun 19
Video Killed the Radio Star: Launch of My "Take Two" Video

Video Killed the Radio Star: Launch of My "Take Two" Video

Video Killed the Radio Star: Launch of My "Take Two" Videos I've been wanting to get more into video for a long time. A really long time. And now that most of us have iPads and other devices attached to...
Jun 18
More on "Survey Results: Rule 10b5-1 Plan Practices"

More on "Survey Results: Rule 10b5-1 Plan Practices"

More on "Survey Results: Rule 10b5-1 Plan Practices" Last week, I ran this blog providing survey results on Rule 10b5-1 plans and received many emails in response. David Smyth of Brooks Pierce even blogged this analysis about them:…
Jun 17
Juicy Lawsuit Pays Off for Reinstated SEC Assistant Inspector General: $580k!

Juicy Lawsuit Pays Off for Reinstated SEC Assistant Inspector General: $580k!

Juicy Lawsuit Pays Off for Reinstated SEC Assistant Inspector General: $580k! As I blogged six months ago, SEC Assistant Inspector General David Weber filed a $20 million lawsuit alleging he was fired for being a whistleblower (you may recall…

Rank this Week: 459

Securities Law Blog

Features news, commentary and thoughts on the law of the securities markets. By Mark Astarita.

http://seclaw.blogspot.com/

Jun 19
Report: Wealthiest Clients Want to Consolidate Advisor

Report: Wealthiest Clients Want to Consolidate Advisor

Here is an interesting report - the World Health Report 2013 found that the majority of wealth managers are keeping their richest clients happy. More than 60% of high-net-worth clients expressed a high degree of trust in both their wealth…
Jun 19
Janney Adds Advisors from Morgan Stanley and Ameriprise

Janney Adds Advisors from Morgan Stanley and Ameriprise

Financial advisors continue to change firms and a quick pace. Janney has added two former Morgan Stanley advisors and a branch manager from Ameriprise to its ranks. Industry veterans. Alfred DeRenzis and Scott Ford joined in the…
Jun 19
Piper to Buy Edgeview Partner

Piper to Buy Edgeview Partner

Investment bank and asset management firm Piper Jaffray Cos. is buying middle-market advisory firm Edgeview Partners LP. Financial terms were not disclosed. Edgeview Partners specializes in mergers and acquisitions. Piper Jaffray said…

Rank this Week: 537

The 10b-5 Daily

Covers securities class action litigation. By Lyle Roberts.

http://www.the10b-5daily.com/

Jun 14
Fire The Torpedoe

Fire The Torpedoe

The class certification decision in In Diamond Foods, Inc. Sec. Litig., 2013 WL 1891382 (N.D. Cal. May 6, 2013) contains a number of interesting holdings. (1) Market efficiency is an issue for the finder of fact - A rebuttable presumption...
May 31
Something Systemic

Something Systemic

In Massachusetts Retirement Systems v. CVS Caremark Corp., 2013 WL 2278599 (1st Cir. May 24, 2013), the plaintiffs asserted that the company had failed to disclose integration problems following a merger. The district court dismissed on loss…
May 24
Reading the Tea Leave

Reading the Tea Leave

Section 11 of the '33 Act creates liability for material misrepresentations in a registration statement. According to the Second Circuit (Fait) and Ninth Circuit (Rubke), however, if the alleged misrepresentation is an opinion, the plaintiff…

Rank this Week: 585

Corporate Securities Law Blog

Focuses on complliance, corporate governance, disclosure, mergers and tax issues. By Sheppard Mullin.

http://www.corporatesecuritieslawblog.com/

Jun 17
Final Section 336(e) Regulations Allow Step-Up in Asset Tax Basis in Certain Stock Acquisition

Final Section 336(e) Regulations Allow Step-Up in Asset Tax Basis in Certain Stock Acquisition

By Matthew Richardson and Paul Metzger Final regulations were issued last month under IRC Section 336(e). These regulations present beneficial planning opportunities in certain circumstances. For qualifying transactions occurring on or after…
Jun 12
Sixth Circuit Splits with Second and Ninth Circuits Regarding Need to Allege Defendants' State of Mind for Claims Challenging Soft Information Under Section 11 of the Securities Act of 1933

Sixth Circuit Splits with Second and Ninth Circuits Regarding Need to Allege Defendants' State of Mind for Claims Challenging Soft Information Under Section 11 of the Securities Act of 1933

In Indiana State District Council of Laborers & Hod Carriers Pension & Welfare Fund v. Omnicare, Inc., 2013 WL 2248970 (6th Cir. May 23, 2013), the United States Court of Appeals for the Sixth Circuit held that a claim alleging a…
May 31
California State Senate Passes Measure Providing Partial Relief From Cutler Decision (re: QSBS)

California State Senate Passes Measure Providing Partial Relief From Cutler Decision (re: QSBS)

By Matthew Richardson The California State Senate yesterday approved a measure providing relief (albeit only partial relief) to those taxpayers facing retroactive tax assessments by reason of the Cutler decision. In Cutler v. Franchise…

Rank this Week: 619

Canadian Securities Law Online

Covers Canadian securities law topics, including disclosures, corporate governance, mergers, registration and compliance. By Stikeman Elliott.

http://www.canadiansecuritieslaw.com/

Jun 18
OSC calls for improved disclosure of forward-looking information

OSC calls for improved disclosure of forward-looking information

The Ontario Securities Commission recently released the results of a review of the forward-looking information disclosure of 60 reporting issuers. In its review, the OSC notes that forward-looking information (FLI) is a key area of interest…
Jun 14
IIROC adopts new rule to clarify prohibition on personal financial dealings with clients and conduct of outside business activitie

IIROC adopts new rule to clarify prohibition on personal financial dealings with clients and conduct of outside business activitie

IIROC announced yesterday that it is adopting a new rule to clarify that approved persons and dealers are generally prohibited from engaging in personal financial dealings with clients. IIROC is also codifying its previous position…
Jun 13
Client reporting requirements receive Ministerial approval

Client reporting requirements receive Ministerial approval

The OSC announced last week that amendments to NI 31-103 that would set out requirements for, among other things, client reporting with respect to cost disclosure, investment performance reporting and client…

Rank this Week: 676

Representing Investors

Covers securities arbitration, litigation and regulatory news. By Maddox Hargett & Caruso, P.C.

http://www.investorprotection.com/blog

Jun 18
Risky Business: Alternative Mutual Fund

Risky Business: Alternative Mutual Fund

Alternative mutual funds have exploded in popularity in recent years. But there is a dark side to alternative mutual funds. Last week, the Financial Industry Regulator (FINRA) warned investors about this very issue, cautioning them in an…
Jun 18
Massachusetts Regulators Settle With B-Ds Over Improper REIT Sale

Massachusetts Regulators Settle With B-Ds Over Improper REIT Sale

Sales of non-traded real estate investment trusts (REITs) have once again come under the radar of securities regulators, with Massachusetts Secretary of the Commonwealth William Galvin announcing settlements with five leading independent…
Jun 11
Municipal Bonds: What Investors Need to Know

Municipal Bonds: What Investors Need to Know

Investors who are planning to invest in municipal bonds need to do their homework; if not, they may unknowingly give their first year’s worth of income to their broker. A June 7 article by the Wall Street Journal sheds a spotlight on…

Rank this Week: 699

Securities Attorney Law Blog

Reviews Federal Securities Fraud Litigation, Arbitration, Whistleblower Claims & Derivative Lawsuits. By Jay Eng.

http://securitiesattorneylaw.com/

Jun 13
SEC Issues Pump & Dump Stock Scam Warning

SEC Issues Pump & Dump Stock Scam Warning

The SEC issued an interesting alert concerning pump and dump stock emails today: Pump-and-dump promoters frequently claim to have “inside” information about an impending development. Others may say they use an…
Jun 9
Investment News Reports That Arbitration Awards In Favor of Customers in Tenant-in-Common Exchange Sales Hold Steady

Investment News Reports That Arbitration Awards In Favor of Customers in Tenant-in-Common Exchange Sales Hold Steady

The Investment News is reporting that arbitration awards in favor of brokerage firm customers concerning sales of tenant-in-common investments are holding steady. According to the article: The number of arbitration awards won by…
Jun 9
Special Risks with Trading on Margin

Special Risks with Trading on Margin

FINRA has issued an investor alert concerning investments purchased “on margin.” A “margin” account allows an investor to borrow money from a brokerage account to purchase additional securities. This loan…

Rank this Week: 792

ComplianceAsia News

Provides information for compliance professionals dealing with issues in financial regulation with a focus on the Asian region.

http://www.compliance.asia/

Jun 18
Good luck Jame

Good luck Jame

In major Hong Kong related compliance news, James Shipton, formerly with Goldman Sachs and before that with ComplianceAsia, has been appointed an Executive Director of the HK SFC in charge of a new combined Licensing and Intermediaries…
Jun 18
SFC bans rep for life

SFC bans rep for life

The SFC has banned a representative for life after her defalcation of client assets. Theft of client assets remains the most serious of issues and the SFC has taken action accordingly. Full details below: SFC bans Michelle Ng Man…
Jun 13
CS in HK fined for position limit breache

CS in HK fined for position limit breache

The HK SFC has fined Credit Suisse in Hong Kong HK$1.6m for breaches of options position limits. This is not the first time that an institution has been fined for this issue. Buy side firms should ensure that they only use one PB…

Rank this Week: 844

Institutional Investor Securities…

Institutional Investor Securities Blog

Covers investment fraud involving auction-rate securities, credit rating agencies, hedge funds and mortgage-backed securities. By Shepherd Smith Edwards & Kantas.

http://www.institutionalinvestorsecuritiesblog.com/

Jun 18
Former Broker Claims He is the Reason FINRA’s Regional Director Resigned, While Ex-JP Morgan Broker Files Arbitration Claim Against His Former Employer

Former Broker Claims He is the Reason FINRA’s Regional Director Resigned, While Ex-JP Morgan Broker Files Arbitration Claim Against His Former Employer

According to former broker David Evansen, he is the reason that Mitchel C. Atkins, the Financial Industry Regulatory Authority Inc.’s District 7 region director, resigned. His claim differs from the SRO’s statement about how…
Jun 15
SEC Risk Fin Director Wants Public Input About Investor Protection-Related Costs and Benefit

SEC Risk Fin Director Wants Public Input About Investor Protection-Related Costs and Benefit

The Securities and Exchange Commission's Division of Risk, Strategy and Financial Innovation’s director Craig Lewis wants members of the public to be more proactive about offering information regarding investor-protection related…
Jun 12
CBOE Will Pay $6M Penalty Over SEC Charges Alleging Failure to Enforce Trading Rule

CBOE Will Pay $6M Penalty Over SEC Charges Alleging Failure to Enforce Trading Rule

The Chicago Board Options Exchange, which is the largest options exchange in the United States, has consented to pay $6 million penalty to settle Securities and Exchange Commission charges accusing it of not fulfilling its obligation to…

Rank this Week: 899

Broke and Broker

Covers the Wall Street docket of criminal, civil, regulatory, and arbitration cases. By Bill Singer.

http://brokeandbroker.com/index.php

Jun 17
Wells Fargo Hit By Email Hacker LOA

Wells Fargo Hit By Email Hacker LOA

These days, you just never quite know who you are dealing with online. Email, instant messaging, social media -- sure, their "handle" or address says one thing but are you really sure about who is behind the message? Consider the…
Jun 17
Real Estate Short Sale Short Circuits Stockbroker

Real Estate Short Sale Short Circuits Stockbroker

For the purpose of proposing a settlement of rule violations alleged by the Financial Industry Regulatory Authority (“FINRA”), without admitting or denying the findings, prior to a regulatory hearing, and without an adjudication of…
Jun 17
Wells Fargo Broker Took Regulatory Bank Shot

Wells Fargo Broker Took Regulatory Bank Shot

Maybe they gotta rethink the whole idea about having one person working at both a brokerage firm and its banking affiliate. If you go by some recent cases, it seems like having all that cash around is just too much a temptation for some…

Rank this Week: 939

Strictly Business

Covers business law for entrepreneurs, emerging companies and the investment management industry. By Alexander J. Davie.

http://blog.alexanderdavie.com/

Jun 17
The JOBS Act, a Year Later – Part 7: Titles V and VI and Concluding Thought

The JOBS Act, a Year Later – Part 7: Titles V and VI and Concluding Thought

This post is the seventh and final in a series examining the impact of the Jumpstart Our Business Startups Act (or JOBS Act) one year after its passage and focuses on Titles V and VI of the law and provides some final concluding thoughts.…
Jun 9
The JOBS Act, a Year Later – Part 6: Regulation A+

The JOBS Act, a Year Later – Part 6: Regulation A+

This post is the sixth in a series examining the impact of the Jumpstart Our Business Startups Act (or JOBS Act) one year after its passage and focuses on the provision instructing the SEC to create a new securities registration exemption…
May 30
The JOBS Act, a Year Later – Part 5: Crowdfunding

The JOBS Act, a Year Later – Part 5: Crowdfunding

This post is the fifth in a series examining the impact of the Jumpstart Our Business Startups Act (or JOBS Act) one year after its passage and focuses on the provisions related to crowdfunding. Previously in this series, I discussed the…

Rank this Week: 960

Covers common securities broker abuses, early retirement scams, elder abuses, subprime mortages & collateralized debt obligation problems, and variable annuities and equity-indexed annuities. By Atlanta, Georgia stockbroker fraud attoneys, Page Perry.

http://www.investmentfraudlawyerblog.com/

Jan 8
Today's 'Alternative Investments' Resemble 'Limited Partnerships' of the Past

Today's 'Alternative Investments' Resemble 'Limited Partnerships' of the Past

Wall Street’s recent promotion of alternative investments should warrant serious concern among investors. It serves as an unpleasant example of history repeating itself. In the mid-1980s, Wall Street firms became enamored with limited…
Jan 7
Hedge Funds Under Regulatory Scrutiny

Hedge Funds Under Regulatory Scrutiny

The SEC has hired hedge fund industry professionals to assist in its investigation of problems and abuses in the hedge fund industry. Three SEC enforcement units are involved in the investigations: the Asset Management unit headed by Bruce…
Jan 7
Approach Actively Traded ETFs with Caution

Approach Actively Traded ETFs with Caution

A recent change in policy by the SEC could have a significant impact on the risk profile of some ETFs. In response to pressure from the industry, the SEC has lifted its moratorium on the use of derivatives by certain exchange traded funds. …

Rank this Week: 979

North Carolina Business Litigation…

North Carolina Business Litigation Report

Reports on judicial decisions of significance to business and shareholders. By Mack Sperling of Brooks Pierce LLP.

http://www.ncbusinesslitigationreport.com/

Jun 8
Do You Need Those Stinkin' Signatures? Maybe Not.

Do You Need Those Stinkin' Signatures? Maybe Not.

Let's say you are a corporate lawyer. You spend your pitiful and lonely life surrounded by marked up papers and red pens, drafting or revising agreements. You send your final versions out to your clients to sign, with…
Jun 4
Usurpation Of Corporate Opportunity Yields Preliminary Injunction

Usurpation Of Corporate Opportunity Yields Preliminary Injunction

A breach of fiduciary duty by the Defendants resulted in a sweeping preliminary injunction in an Order entered by the Business Court last Friday, in Esposito v. Esposito. The parties were co-shareholders of Anthem Leather, Inc., a Delaware…
Jun 3
There's No Attorney-Client Privilege For The Communication Of Fact

There's No Attorney-Client Privilege For The Communication Of Fact

It's been nearly ten years since the North Carolina Supreme Court decided a case involving the attorney-client privilege. That case was In re Miller, 357 N.C. 316, 584 S.E.2d 772 (2003), which raised the question whether the privilege…

Rank this Week: 1044

DealLawyers.com Blog

Covers mergers & acquisitions. From editor Broc Romanek, who is also editor of TheCorporateCounsel.net.

http://www.deallawyers.com/Blog/

Jun 18
IRS Permits Elective Basis Step-Up in Taxable Spin-Offs & Other Taxable Disposition

IRS Permits Elective Basis Step-Up in Taxable Spin-Offs & Other Taxable Disposition

IRS Permits Elective Basis Step-Up in Taxable Spin-Offs & Other Taxable Dispositions Here's news culled from this Wachtell Lipton memo (here are related memos): The IRS recently finalized regulations under Internal Revenue Code Section…
Jun 14
SEC Settles with Revlon Over Misleading Shareholders in Going Private Deal

SEC Settles with Revlon Over Misleading Shareholders in Going Private Deal

SEC Settles with Revlon Over Misleading Shareholders in Going Private Deal Yesterday, as noted in this press release, the SEC settled charges with Revlon that it misled shareholders during a "going private transaction." The company…
Jun 6
Webcast: "Conflicts of Interest: How to Handle in Deals"

Webcast: "Conflicts of Interest: How to Handle in Deals"

Webcast: "Conflicts of Interest: How to Handle in Deals" Tune in today for the webcast - "Conflicts of Interest: How to Handle in Deals" - to hear Steven Haas of Hunton & Williams, Mike Reilly of Potter Anderson and…

Rank this Week: 1085

The PSLRA Nugget

Covers securities class action case law. By Christopher S. Jones.

http://pslranugget.blogspot.com/

Feb 3
The Nugget is Moving to a New Home

The Nugget is Moving to a New Home

Please update your bookmarks, as the PSLRA Nugget is moving to a new easier to remember website address. Also if you are getting this by email, and you would like to continue getting it that way, you just need to go to
Feb 2
Yes Shorter is Better (at least in legal briefing)

Yes Shorter is Better (at least in legal briefing)

OK, you know who you are. The serial page extension requesters. But Judge, we have to have 100 pages to explain it. I know, I know, we've all done it. And yes I agree sometimes it's necessary. But District Judge Joy Flowers Conti…
Mar 18
Confidential Sources Still Alive & Kicking

Confidential Sources Still Alive & Kicking

What's that? You thought Tellabs banned confidential witnesses? Well, let's not get carried away here, as there's certainly at least two ways to read that opinion. Of course, after the 7th Circuit decided Higginbotham v. Baxter, it was…

Rank this Week: 1132

About Broker Fraud Blog

Covers compliance rules, duty of disclosure, elder abuse and fraud. By the Hayes Law Firm.

http://aboutbrokerfraud.typepad.com/about_broker_fraud_blog/

Dec 6
SEC Freeze Assets in Alleged Diamond-Themed Ponzi Scheme

SEC Freeze Assets in Alleged Diamond-Themed Ponzi Scheme

The SEC alleges that Richard Dalton and Universal Consulting Resources LLC (UCR) raised approximately $17 million from investors for two fraudulent offerings. The programs were generally referred to as the “Trading Program” and the…
Sep 28
Arbitrators Award Ten Times Amount of Investment in Auction Rate Securities Case

Arbitrators Award Ten Times Amount of Investment in Auction Rate Securities Case

Last month an arbitration panel ordered the investment firm USB financial to pay over $80 million in consequential investments to Kajeet, Inc., a company who markets cellphones for kids. Kajeet’s award fell short of the $110 million…
Aug 30
Raymond James Must Buy Back Auction Rate Securitie

Raymond James Must Buy Back Auction Rate Securitie

A Texas couple got some great news last week from the FINRA arbitration panel that ruled on their claim. The panel ruled that the Raymond James Financial Inc. and broker Larry Milton must buy back some $925,000 worth of auction…

Rank this Week: 1156

Florida Securities Fraud Lawyer…

Florida Securities Fraud Lawyer Blog

Covers securities fraud, investor fraud and Ponzi schemes. By McCabe Rabin, P.A.

http://www.floridasecuritiesfraudlawyerblog.com/

Jun 6
SEC charges the City of Victorville, CA and Others with Defrauding Municipal Bond Investor

SEC charges the City of Victorville, CA and Others with Defrauding Municipal Bond Investor

The Securities and Exchange Commission (SEC) has charged the City of Victorville in California, City Manager Keith Metzler, the Southern California Logistics Airport Authority, and Kinsell, Newcomb & DeDios (KND) - the Airport Authority's…
Jun 6
Stanford Ponzi Scheme Receiver and Liquidators agree to distribute $300 Million to Defrauded Investor

Stanford Ponzi Scheme Receiver and Liquidators agree to distribute $300 Million to Defrauded Investor

Attorney Ralph Janvey, the U.S. receiver of Stanford Financial Group, and accountants Marcus Wide and Hugh Dickinson, international liquidators of Stanford International Bank Ltd. (the "Bank"), have agreed to distribute up to $300 million of…
May 22
FINRA Hits LPL With $7.5 Million Fine in E-mail Failure Case

FINRA Hits LPL With $7.5 Million Fine in E-mail Failure Case

LPL Financial LLC has signed a Letter of Acceptance, Waiver and Consent ("AWC") to resolve allegations by FINRA that it made material misrepresentations to the regulator during its investigation of significant and repeated e-mail failures by…

Rank this Week: 1236

footnoted.org

Guide to what's hiding in SEC filings. By Michelle Leder.

http://www.footnoted.org

Feb 11
Google joins the DIY group…

Google joins the DIY group…

Late Friday, less than 20 minutes before the SEC closed for the week, Google (GOOG) filed this 8-K, which quickly had the interwebs a-buzzing. Within minutes of the filing, CNBC tweeted this alert. Two heavyweight tech sites, TechCrunch and…
Jan 30
And then there were six: Copano gets acquired…

And then there were six: Copano gets acquired…

Everywhere you turn these days, people seem to be talking about the “long tail” — in entertainment, in search, in insurance (where it’s been used for years). Colloquially, it tends to mean that there’s a pattern…
Jan 18
Too early for worst footnote of 2013?

Too early for worst footnote of 2013?

Given that it’s only 18 days after the year began, it may be a wee bit premature to declare a winner of the worst footnote for 2013. Still this 8-K filed by Apollo Group (APOL) last night, is already in the running. Now Apollo, the…

Rank this Week: 1267

BD Law Blog

Features news, updates and thoughts regarding broker-dealer and investment adviser regulation and legal and compliance issues. By the Beck Law Firm, LLC.

http://www.bdlawblog.com/

Jun 10
Stockbroker & Investment Advisor Form U4 Disclosure Issues for Non-Securities Lawyer

Stockbroker & Investment Advisor Form U4 Disclosure Issues for Non-Securities Lawyer

Individuals involved in the financial industry can run afoul of regulations pertaining to disclosure in a variety of ways, even when they are dealing with matters that seem unrelated to the securities world and do not involve industry sales…
Jun 6
Does this get reported on my Form U4? Get a U4Review.

Does this get reported on my Form U4? Get a U4Review.

I regularly get questions from brokers all across the country asking about whether or not an incident or two in their background has to be reported on their Form U4. For some folks, they've been in the industry for some...
May 21
Florida Supreme Court Rules Statute of Limitations Applies to Arbitration

Florida Supreme Court Rules Statute of Limitations Applies to Arbitration

This month, the Florida Supreme Court held that Florida's statutes of limitations apply in arbitration proceedings. In the case of Raymond James Financial Services, Inc. v. Barbara J. Phillips, etc. et. al., (No. SC11-2513), the Court held…

Rank this Week: 1350

Federal Securities Law Blog

FedSecLaw.com is devoted to highlighting current issues in securities laws, discussing the ramifications of those issues for todayâ€™s businesses, and providing bottom-line takeaways for busy owners, managers, and executives. Published by Porter, Wright,

http://www.fedseclaw.com/

Jun 13
SEC Charges Revlon with Misleading Shareholders in Going Private Transaction

SEC Charges Revlon with Misleading Shareholders in Going Private Transaction

On June 13, 2013, the Securities and Exchange Commission (“SEC”) charged Revlon with violating federal securities laws when the company misled shareholders during a going private transaction. Specifically, the SEC found that…
Jun 13
Introduction of H.R. 2274 - The Small Business Mergers, Acquisitions, Sales and Brokerage Simplification Act of 2013

Introduction of H.R. 2274 - The Small Business Mergers, Acquisitions, Sales and Brokerage Simplification Act of 2013

H.R. 2274, the Small Business Mergers, Acquisitions, Sales and Brokerage Simplification Act of 2013, was introduced in the U.S. House of Representatives by Rep. Bill Huizenga on June 6, 2013. The bill is intended to reduce the…
Jun 5
SEC Issues Investor Alert for Private Oil & Gas Offering

SEC Issues Investor Alert for Private Oil & Gas Offering

We previously blogged about securities regulation of interests in oil and gas exploration and development. Industry participants, state and federal securities regulators have recently cautioned investors regarding investing in oil and gas…

Rank this Week: 1374

The Securities Edge

Covers securities law topics of interest to executives of middle market businesses. By Gunster.

http://www.thesecuritiesedge.com/

Jun 11
Social media and brokers: FINRA wants broker-dealers to be “friends” with their employee

Social media and brokers: FINRA wants broker-dealers to be “friends” with their employee

Posted By: Gustav L. Schmidt With newer methods to communicate and interact with the so-called social network popping up on almost a daily basis, securities regulators have been giving more and more attention to social media and how…
Jun 5
The SEC gets tough – Nasdaq to pay record $10 million fine to settle Facebook IPO allegation

The SEC gets tough – Nasdaq to pay record $10 million fine to settle Facebook IPO allegation

Posted By: Robert C. White Jr. May 29, 2013 was a bad day at the office for The Nasdaq Stock Market, LLC as it agreed to pay a $10 million fine to settle allegations arising from the troubled May 18, 2012 Facebook IPO. This payment was…
May 30
New SEC Chair: Mary Jo White

New SEC Chair: Mary Jo White

Posted By: Gregory K. Bader The mission of the U.S. Securities and Exchange Commission (“SEC”) is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. This sounds great, but how…

Rank this Week: 1538

Hedge Fund Law Blog

Covers hedge fund laws and starting a hedge fund.

http://www.hedgefundlawblog.com

Jun 9
FATCA Hedge Fund Compliance Event

FATCA Hedge Fund Compliance Event

June 19, 2013 – Sponsored by SS&C GlobeOp We have previously discussed the Foreign Account Tax Compliance Act (“FATCA”) and the legal and compliance implications for hedge fund managers. As the date draws near…
Jun 1
Hedge Fund Events June 2013

Hedge Fund Events June 2013

The following are various hedge fund events happening this month. Please email us if you would like us to add your event to this list. **** June 2-4 Sponsor: Marcus Evans Event: Private Wealth Management Location: Atlanta, GA June 3 Sponsor:…
May 17
Regulation A+ Deadline Passed by Congre

Regulation A+ Deadline Passed by Congre

Part of JOBS Act Regulations to be Finalized by October 31, 2013 On Wednesday May 15, the House of Representatives passed H.R. 701 which requires the SEC to finalize regulations with respect to “Regulation A+” of the JOBS Act.…

Rank this Week: 1530

White Collar Fraud

Covers white collar crime, securities fraud, the accounting profession, internal controls and Sarbanes-Oxley. By Sam E. Antar.

http://whitecollarfraud.blogspot.com/

Jan 29
Overstock.com CEO Patrick Byrne Sleeps With a Gun

Overstock.com CEO Patrick Byrne Sleeps With a Gun

In numerous blog posts in the past, and in widespread media coverage, evidence has accumulated for years that Overstock.com CEO (NASDAQ: OSTK) Patrick Byrne has shown signs of being mentally unbalanced and paranoid. Byrne has blamed his…
Jan 22
Patrick Byrne: Armed, Dangerous, and Delusional

Patrick Byrne: Armed, Dangerous, and Delusional

Last Wednesday, Overstock.com (NASDAQ: OSTK) CEO Patrick Byrne was arrested after Transportation Security Administration (TSA) officers found a loaded pistol concealed in his carry-on bag at an airport security checkpoint. He spent several…
Dec 28
What Indicted SAC Capital Portfolio Manager Mathew Martoma Can Learn from Crazy Eddie

What Indicted SAC Capital Portfolio Manager Mathew Martoma Can Learn from Crazy Eddie

Back in March 1989, I faced an agonizing decision: Either cooperate with the F.B.I. and S.E.C. investigations of fraud at Crazy Eddie or spend a long time in prison behind bars. Likewise, former SAC Capital Advisors portfolio manager Mathew…

Rank this Week: 1514

Cady Bar the Door

Provides insight and commentary on SEC enforcement actions. By Brooks Pierce.

http://www.secmiscellany.com

Jun 18
Lenny Dykstra Is Open for Business!

Lenny Dykstra Is Open for Business!

On Dealbreaker last week, Bess Levin hilariously reported former baseball player Lenny Dykstra’s release from a California prison after his guilty plea and sentencing for three felony counts – bankruptcy fraud, concealment of…
Jun 17
SEC Considers Returning to Its Root

SEC Considers Returning to Its Root

The SEC has recently taken a well-deserved beating for its lack of attention to financial fraud at publicly traded companies. The numbers speak for themselves. In 2012, the SEC brought 79 financial fraud cases, when in years past…
Jun 13
Companies Finding Little Use for Quick, Efficient Way to Avoid Liability

Companies Finding Little Use for Quick, Efficient Way to Avoid Liability

When I was on the SEC’s enforcement staff, I had a case once where we were pretty sure our prospective defendant had engaged in insider trading. Our conversation with his lawyer went something like this:¹…

Rank this Week: 1616

Sharesleuth.com

Offers investigative reporting aimed at exposing securities fraud. By Chris Carey.

http://sharesleuth.com/

Oct 15
Rockwell Medical countersues former drug-development executive

Rockwell Medical countersues former drug-development executive

Rockwell Medical Inc. (Nasdaq: RMTI) has filed a countersuit against its former chief medical officer, alleging that he overstated his qualifications, breached a confidentiality agreement and made false and defamatory statements about the…
Oct 2
Houston American says SEC probing its Colombian resource claim

Houston American says SEC probing its Colombian resource claim

Houston American Corp. (AMEX: HUSA) says the Securities and Exchange Commission’s investigation into the company appears to be focused on disclosures about the potential of its CPO-4 prospect in Colombia in late 2009 and early 2010.…
Jun 20
Former Rockwell Medical executive alleges SEC violation

Former Rockwell Medical executive alleges SEC violation

The former head of drug development at Rockwell Medical Technologies Inc. (Nasdaq: RMTI) says the company and its chief executive knowingly issued false and misleading press releases and violated other securities laws. Dr. Richard C. Yocum,…

Rank this Week: 1662

California Securities Fraud Lawyer…

California Securities Fraud Lawyer Blog

Covers securities regulation, fiduciaries, and securities disputes news and updates. Published By Alcala Law Firm.

http://www.californiasecuritiesfraudlawyerblog.com/

Apr 26
Securities America Fined $100,000 Over IMH Secured Loan Fund & Medical Capital Sales Practice

Securities America Fined $100,000 Over IMH Secured Loan Fund & Medical Capital Sales Practice

Securities America, Inc. has entered into a settlement with the Financial Industry Regulatory Authority (FINRA) and will pay a fine of $100,000 in connection with the sale of two private placements. As part of the settlement, Securities…
Apr 2
UBS Willow Fund L.L.C. Class Action Update

UBS Willow Fund L.L.C. Class Action Update

On December 20, 2012, a class action complaint was filed on behalf of all investors who purchased or held the UBS Willow Fund L.L.C. at any time after January 1, 2008. The matter of Ken Boudreau vs. UBS Willow Management L.L.C, UBS…
Feb 27
Update: FINRA Appeals Charles Schwab Class Action Ban

Update: FINRA Appeals Charles Schwab Class Action Ban

This is an update to our February 21, 2013, blog post: Charles Schwab Allowed to Prevent Customer Class Action Lawsuits. Yesterday, a spokesperson for the Financial Industry Regulatory Authority (FINRA) announced that an appeal had been…

Rank this Week: 1735

Wall Street Investment Fraud…

Wall Street Investment Fraud Lawyer Blog

Covers Ponzi schemes, investment fraud, and other scams. By The Doss Firm.

http://www.wallstreetinvestmentfraudlawyer.com/

Apr 23
Co-Directors of SEC's Enforcement Division Named

Co-Directors of SEC's Enforcement Division Named

On April 22, 2013, George Canellos and Andrew Ceresney were named as SEC's Division of Enforcement co-directors. Both have ties to SEC's new chairman Mary Jo White. Canellos worked as an assistant attorney to Ms. White while she was the…
Apr 23
Co-Directors of SEC's Enforcement Division Named

Co-Directors of SEC's Enforcement Division Named

On April 22, 2013, George Canellos and Andrew Ceresney were named as SEC's Division of Enforcement co-directors. Both have ties to SEC's new chairman Mary Jo White. Canellos worked as an assistant attorney to Ms. White while she was the...
Apr 22
FINRA Approves Proposed Rule Changes to Arbitration for Submission to SEC

FINRA Approves Proposed Rule Changes to Arbitration for Submission to SEC

On April 19, 2013, the FINRA Board of Governors approved several proposed rule changes that now will be submitted to the SEC for review and approval. Two that center on the FINRA arbitration process are detailed below: First, the Board…

Rank this Week: 1699

With Vigour and Zeal

Features a European's views on securities litigation. By Werner Kranenburg.

http://kranenburgesq.com/blog

Feb 26
Transatlantic Litigation: “I sue first”

Transatlantic Litigation: “I sue first”

On Wednesday earlier this week, the New York State Bar Association’s International Section held a seminar in London on the topic of Transatlantic Litigation. I was one of the co-organisers and one of the two speakers.
Mar 31
Cornerstone’s Class Actions Reviews 2009

Cornerstone’s Class Actions Reviews 2009

Last week and in January, the Stanford Law School Securities Class Action Clearinghouse, in cooperation with Cornerstone Research, published two annual securities class action reviews: Filings 2009 and
Feb 25
Where to go in March

Where to go in March

In the next few weeks I will be attending the following events: an LSE lecture and Weil Gotshal webcast on the 4th, Barroway Topaz’ annual conference on the 11th and the NYSBA’s litigation roundtable on the 16th.

Rank this Week: 1755

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