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SEC Can’t Pass On Pot Stock Puffery

Corporations facing federal securities suits can sometimes avoid liability by claiming that their forward-looking statements were so vague or indefinite that they could not have affected the company’s stock price and are...more

8/8/2014 - Enforcement Enforcement Actions Fraud Professional Liability SEC Securities Act of 1933 Securities Fraud White Collar Crimes

Back To The Drawing Board: The SEC Loses Another Insider Trading Trial

On January 7, 2014 the SEC lost an insider trading bench trial before Judge William Duffey of the U.S. District Court for the Northern District of Georgia. In a thorough opinion, Judge Duffey found the SEC’s case to be...more

1/15/2014 - Circumstantial Evidence Insider Trading SEC Whistleblowers

Pack Your Bags: SEC And DOJ To Intensify The Spotlight On The Foreign Corrupt Practices Act

Comments made by Kara N. Brockmeyer, the Securities Exchange Commission’s chief of the Foreign Corruption Practices Act (FCPA) unit, and Charles E. Duross, deputy chief of the Department of Justice’s FCPA unit, at the recent...more

11/27/2013 - Anti-Corruption Compliance DOJ Enforcement Actions FCPA SEC Travel

NBA Team Owner Mark Cuban “Talks Trash” After Defense Verdict

Following a defense verdict in the insider trading case brought against him by the SEC, Dallas Mavericks owner Mark Cuban has not been sitting on the bench—but rather using his blog to stay on the offensive. Since the...more

10/30/2013 - Insider Trading SEC Sports

Lookout For The SEC: After First Demanding More Admissions, The SEC Is Additionally Increasing Monetary Penalties And Giving...

After first announcing a change on June 18 of this year to demand more admissions in SEC actions, an SEC leader recently made further comments echoing that same sentiment, as well as referencing the SEC’s intended use of...more

10/8/2013 - Citigroup Civil Monetary Penalty SEC Settlement

A Tale Of Two Paychecks; Ralph Lauren Makes 1,900 Times More Than You And The SEC Thinks You Should Know

On September 18, 2013, the SEC voted to propose a new rule that would require public companies to disclose the ratio of compensation of its CEO to the median compensation of its employees. The new rule, required under...more

9/23/2013 - CEOs Disclosure Requirements Dodd-Frank Pay Ratio Ralph Lauren SEC

Does Your Director Have A Guilty Conscience? SEC To Press For More Admissions

Some of the SEC’s enforcement targets are no longer in denial, or at least they won’t be if a recent policy shift at the regulator takes hold. ...more

7/4/2013 - Admissions of Liability Directors Enforcement Mary Jo White SEC

Do Directors Face Potential Liability For Not Preventing Cyber Attacks?

In the past weeks, we’ve reported that while most companies are properly disclosing their exposure to cybersecurity threats, the increasing occurrence and severity of cyber attacks has the SEC considering even more stringent...more

6/25/2013 - Board of Directors Covenant of Good Faith and Fair Dealing Cyber Attacks Cybersecurity Disclosure Requirements Fiduciary Duty SEC

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....more

6/14/2013 - CII Insider Trading Rule 10b-5 SEC

Recent Study Finds Cybersecurity Disclosures May Fail To Meet SEC Guidelines

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...more

6/13/2013 - Cybersecurity Disclosure Requirements SEC

The SEC Says Cities (And City Officials!) Must Obey Securities Laws, Too

Yesterday the SEC filed an Order Instituting Cease and Desist Proceedings against the City of Harrisburg, Pennsylvania for violations of Rule 10b-5. The City consented to entry of a Cease and Desist Order....more

5/8/2013 - Disclosure Requirements Municipalities Public Disclosure Public Employees Rule 10b-5 SEC

Consenting Adults: D.C. Circuit Tells Press To Stay Out Of SEC-AIG Relationship

What happens between a mature multinational insurance corporation and its regulator is nobody’s business, or so says the United States Court of Appeals for the D.C. Circuit, which issued an opinion in SEC v. AIG on February...more

2/12/2013 - Adjudicatory Process AIG Appeals Decision-Making Process Journalists Judicial Records Right of Access SEC SEC v AIG

SEC Is “Here to Stay” On Insider Trading

It has been over three years since the SEC filed its insider trading charges against Galleon Management and Raj Rajaratnam. When that complaint was filed, the Director of the SEC’s Division of Enforcement, Robert Khuzami...more

12/11/2012 - Insider Trading SEC

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