Securities Law, Civil Remedies, Criminal Law

Federal Authorities Announce FCPA Action, First SEC Non-Prosecution Agreement

by BuckleySandler LLP on 5/1/2013

On April 22, the DOJ and the SEC announced parallel actions against a clothing company to resolve allegations that a subsidiary of the company paid bribes to Argentine officials over a several-year period to obtain improper...more

The Importance Of Anti-Corruption Compliance Remediation

by Michael Volkov on 3/28/2013

When you catch someone (e.g. a child, friend or business associate) in the wrong, it is interesting to watch their reactions. (Notice I left out spouse or relationship partner – we all know our spouse or relationship partner...more

Internal Investigation Fees Awarded To Goldman Sachs

by Mona Amer, Mark Mermelstein | Orrick - Securities Litigation and Regulatory... on 3/5/2013

On Monday, February 25, Goldman Sachs won its bid to force former director Rajat K. Gupta to pay legal fees it incurred while investigating Gupta’s insider trading activities. In October 2012, Gupta was sentenced to two years...more

CFTC Charges Agape Entities With Futures Trading Scheme

by Elan Mendel | Shipkevich PLLC on 3/1/2013

The U.S. Commodity Futures Trading Commission (CFTC) has charged Agape World, Inc. and Agape Merchant Advance with defrauding customers of tens of millions of dollars in a commodity futures trading scheme. The CFTC’s press...more

An Independent Corporate Monitor's Perspective on Pre-Trial Diversion/Government Settlement Agreeements

by John Hanson on 11/14/2012

Pre-Trial diversion or settlement agreements have been increasingly used as a tool by government agencies as a means of resolving corporate liability for misconduct or fraud perpetrated by an organization's employees,...more

Peregrine Customers Get Partial Payout

by Shipkevich PLLC on 9/24/2012

Judge Carol Doyle of Chicago approved the return of $123 million dollars to customers of Peregrine Financial Group on Thursday. This amounts to 30 to 40 percent of initial customer investment held by the discredited firm. The...more

Insider Trading Defendant’s Decision to Take the Stand Doesn’t Prevent Conviction

by Jeff Ifrah on 8/27/2012

In electing to testify in his own defense at his federal criminal trial for insider trading, hedge fund operator Doug Whitman made a decision that no other defendants in similar recent prosecutions had chosen. He was still...more

Appeals Court Casts Doubt on Acceptability of ‘Obey-the Law’ Injunctions

by Jeff Ifrah on 6/26/2012

We recently blogged about the recent decision of the U.S. Court of Appeals for the 11th Circuit in Securities and Exchange Commission v. Goble, 2012 WL 1918819 (11th Cir. May 29, 2012). There, we discussed the appeals...more

E.D.N.Y. Judge Highlights SEC’s Limited Enforcement Powers

by Brooks Pierce on 6/25/2012

In November 2009, a federal jury in Brooklyn acquitted Ralph Cioffi and Matthew Tannin of securities fraud charges arising from the failure of their hedge fund at Bear Stearns. The case was noteworthy because it was one of...more

Proposed Bill to Allow Private Enforcement of the FCPA

by Patterson Belknap Webb & Tyler LLP on 1/6/2012

We have received several inquires regarding H.R. 3531, a bill that was recently introduced in the U.S. House of Representatives to amend the Foreign Corrupt Practices Act ("FCPA") to permit private suits against certain...more

Lessons from the Options Backdating Scandal: The Archeology of Compensation Litigation By Stuart L. Gasner

by Keker & Van Nest on 1/3/2012

Originally published in Executive Counsel, December 2011/January 2012. If litigating a lawsuit about compensation issues is a lot like doing a "dig" at an archeological site, the options back-dating scandal was a...more

Court Slaps Down Section 25400 Market Manipulation Claim Against Convicted Felon

by Allen Matkins Leck Gamble Mallory & Natsis... on 8/4/2011

Corporations Code Section 25400 is California’s anti-market manipulation statute. The statute copied clauses (1) through (5) of Section 9(a) of the Securities Exchange Act of 1934 and declares unlawful specified actions...more

IBM Pays $10 Million to Settle Long-Running Corruption Probe

by Morrison & Foerster LLP on 3/25/2011

After a seven-year investigation, IBM settled SEC charges that IBM had violated internal controls and books and records provisions of the Foreign Corrupt Practices Act. IBM agreed to disgorge $5.3 million and to pay a $2...more

Arizona Federal District Court Holds That Securities & Exchange Commission Need Not Allege Wrongdoing On The Part Of CEO When...

by Sheppard Mullin Richter & Hampton LLP on 6/16/2010

In Securities & Exchange Commission v. Jenkins, No. CV-09-1510-PHX-GMS, 2010 WL 2347020 (D. Ariz. Jun. 9, 2010), the United States District Court for the District of Arizona held that the responsibility of a CEO under Section...more

Securities Litigation Alert: The Foreign Corrupt Practices Act: The Next Corporate Scandal?

by Fenwick & West LLP on 1/28/2008

As the stock option backdating cases wind down, what will be the next corporate scandal to gain widespread notoriety? It is always difficult to predict what alleged misdeeds will be front page news in the coming years, but...more

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Securities Law › Civil Remedies › Criminal Law