Penelope Graboys Blair

Penelope Graboys Blair

Orrick, Herrington & Sutcliffe LLP

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Judge Rakoff’s “Sour Grapes”: SEC v. Citigroup Settlement Approved

On August 5, 2014, U.S. District Judge Jed Rakoff reluctantly approved a$285 million settlement in the SEC’s enforcement action against Citigroup. In SEC v. Citigroup, the SEC alleged that after Citigroup realized in early...more

8/13/2014 - Citigroup Enforcement Enforcement Actions Judge Rakoff Mortgage-Backed Securities SEC SEC v Citigroup Settlement

What’s The Opposite Of Rubber Stamping A Settlement? Meet Judge Kane In SEC v. Van Gilder.

Judge John L. Kane of the United States District Court for the District of Colorado is uninterested in oxymoronic gimmicks, that much is clear. In a fiery April 24, 2014 opinion, Judge Kane rejected settlements between the...more

4/30/2014 - Insider Trading Proposal for Settlement Rule 10(b) Rule 10b-5 SEC

Trading On Tips: SEC May Seek Disgorgement From Trader For Gains In Investment Fund

A trader who uses material nonpublic information to execute trades but does not personally benefit from the resulting gains may nonetheless face disgorgement of all profits, according to a recent Second Circuit opinion. In...more

2/27/2014 - Disgorgement Enforcement Actions Illegal Tipping Investment Funds SEC

SAC Pleads Guilty To Five Counts Of Securities Fraud; Agrees To Pay Largest Fine In History for Insider Trading Offenses

SAC Capital Advisors pleaded guilty last Friday to securities fraud claims brought by the U.S. Attorney in Manhattan. If approved, the deal would require SAC to pay a $1.2 billion penalty, including a $900 million criminal...more

11/13/2013 - Civil Forfeiture Civil Monetary Penalty Compliance Fines Insider Trading Investment Adviser SAC Capital Securities Fraud White Collar Crimes

Record SEC Settlement In S.A.C. Capital Investigation. Well….Kind Of

On April 16, 2013, Judge Victor Marrero conditionally approved a $600 million consent judgment between the SEC and CR Intrinsic Investors LLC (“CR”) where CR “neither admitted nor denied” the allegations brought against it....more

4/24/2013 - CR Intrinsic Investors Insider Trading SAC Capital SEC Settlement

The Revolving Door Spins Again

On January 24, President Obama announced his nominee for Chairman of the Securities Exchange Commission – Mary Jo White, a former United States Attorney for the Southern District of New York....more

2/20/2013 - Barack Obama Mary Jo White SEC

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