The SEC brought a massive insider trading complaint against Samuel E. Wyly and Charles J. Wyly, Jr. of Dallas. They also charged their attorney Michael C. French of Dallas and their stockbroker Louis J. Schaufele III of Dallas…more
It turns out that failing to adhere to your investment guidelines can not only get you sued by your investor, it can get you sent to jail…more
Papadopoulos v. Target Corp.
The Massachusetts Supreme Judicial Court removed the distinction between natural and unnatural accumulations of snow and ice on their property. Before this decision, property owners were protected when sued over falls from…more
The UK’s Financial Services Authority has published a metric on insider trading. They look at the level of abnormal pre-announcement price movements (APPMs) in the share price of a company…more
In this decision, the court upheld an instruction that permitted the jury to find that a hedge fund adviser had a fiduciary relationship with a client.
“[N]o hedge fund adviser could create a client relationship with an…more
United States Court of Appeals for the Second Circuit has upheld significant portions of Connecticut’s pay-to-play law…more
The search of the police officer’s text messages was reasonable, and therefore the officer’s Fourth Amendment rights were not violated.
"Even if Quon had a reasonable expectation of privacy in his text messages, petitioners…more
Buckley H. Crispin v. Christian...
A California district judge ruled that Facebook and MySpace messages that aren’t publicly available are protected information under the Stored Communications Act, and therefore can’t be subpoenaed for use in civil litigation…more
The DOJ alleges Bonnie Jean Hoxie — an administrative assistant to a high-level Disney executive — and her boyfriend Yonni Sebbag sent anonymous letters in March 2010 to more than 20 hedge funds in the U.S. and Europe, offering…more
The SEC alleges Bonnie Jean Hoxie — an administrative assistant to a high-level Disney executive — and her boyfriend Yonni Sebbag sent anonymous letters in March 2010 to more than 20 hedge funds in the U.S. and Europe, offering…more
In its early days, Killington offered a lifetime ski pass to purchasers of its bonds in the 1950s and 1960s. The holder is entitled "to the free use of all ski lifts operated by Sherburne Corporation at Killington Basin so long…more
Glitnir Bank HF v. Johannesson et al.
Last week Iceland's Glitnir Bank announced that it has commenced legal action in the Supreme Court of the State of New York against Jon Asgeir Johannesson, formerly its principal shareholder, Larus Welding, previously Glitnir's…more
The judge found that the whistleblower protections in Sarbanes Oxley for public companies also applies to mutual fund companies…more
The New Jersey Supreme Court has ruled on the appeal and found that the employee
“could reasonably expect that e-mail communications with her lawyer through her personal, password-protected, web-based e-mail account would…more
Jones v. Harris Associates
Under §36(b) of the Investment Company Act of 1940 the “the investment adviser of a registered investment company shall be deemed to have a fiduciary duty with respect to the receipt of compensation for services, or of payments…more
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