Rule 10b-5, SEC | JD Supra Law News

City of Harrisburg Settles With SEC on Rule 10b-5 Violations

by Michael G. Bailey, David Y. Bannard, Laura L. Bilas, Heidi H. Jeffery | Foley & Lardner LLP on 5/15/2013

Recently, the SEC settled with the City of Harrisburg (City) over violations of Rule 10b-5 in connection with material misstatements and omissions made by the City in its public statements and financial information, during a...more

Best Laid Plans Gone Awry: Practices for Rule 10b5-1 Trading Plans

by Sarah A. Good, Laura Hurtado, Gabriella Lombardi, Cindy V. Schlaefer, Brian Wong | Pillsbury Winthrop Shaw Pittman LLP on 5/10/2013

Rule 10b5-1 trading plans are in the limelight due to investigations initiated by U.S. Attorney’s Offices and the SEC into possible abuses by corporate executives of such plans. Now, more than ever, companies and their boards...more

DOJ and SEC Scrutinize Potential Misuse of Rule 10b5-1 Trading Plans by Corporate Directors Affiliated with Investment Advisers

by Ashley Burden, Stephen Leitzell, Andrew L. Oringer, Adam Wasserman | Dechert LLP on 5/10/2013

Over the past four years, the U.S. Department of Justice (“DOJ”) and U.S. Securities and Exchange Commission (“SEC”) have focused on insider trading involving private funds as one of their key targets in the fight against...more

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

by Robert Feyer, M. Todd Scott | Orrick - Securities Litigation and Regulatory... on 5/8/2013

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

Making A Statement: The Two Faces Of Janus In The SDNY

by Justin Bagdady, Richard A. Martin | Orrick - Securities Litigation and Regulatory... on 5/7/2013

Almost two years after the Supreme Court issued its momentous decision in Janus Capital Group, Inc. v. First Derivative Traders, 131 S. Ct. 2296 (2011), lower courts continue to reach significantly different conclusions...more

SEC Warns Public Officials About Potential Liability

by Stephen M. Quinlivan | Leonard, Street and Deinard - Dodd-Frank and... on 5/7/2013

The SEC instituted a settled cease-and-desist proceeding against the City of Harrisburg, Pennsylvania for its violations of Section 10(b) of the Securities Exchange Act (“Exchange Act”) and Rule 10b-5. ...more

In The SDNY, Hindsight Is No Substitute For Red Flags When Alleging Scienter

by George E. Greer, Christine Louie, Danielle Van Wert | Orrick - Securities Litigation and Regulatory... on 4/16/2013

On April 8, 2013, Judge Shira A. Scheindlin of the Southern District of New York granted auditor Deloitte Touche Tohmatsu CPA’s (“DTTC”) motion to dismiss a shareholder class action, finding that plaintiffs failed to...more

"Getting Back to Basics with Rule 10b5-1 Trading Plans"

by Katherine Ashley, Brian V. Breheny, Amber Hilliard | Skadden, Arps, Slate, Meagher & Flom LLP on 4/10/2013

In late 2012, The Wall Street Journal published a number of articles that analyzed the trading practices of certain public company executives, in many cases under trading plans that were entered into in accordance with the...more

“Plan B” for Rule 10b5-1 Plans?

by Lulu Chiu, Jim Scheinkman | Snell & Wilmer L.L.P. on 4/5/2013

Companies and their executives who utilize “Rule 10b5-1 Plans” to reduce the risks from insider trading claims when trading in company securities should evaluate plan use given recent increased scrutiny by the media and...more

Amgen Inc. v. Connecticut Retirement Plans And Trust Funds: Does Supreme Court Put “Cart Before The Horse” To Satisfy Predominance...

by Joshua E. Roberts | Carlton Fields on 2/28/2013

To best understand this decision, we need to look at the rules concerning both class actions and securities: - According to Rule 23(b)(3), a class action may be maintained if the court finds that questions of law or...more

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Rule 10b-5 › Securities & Exchange Commission