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Securities Fraud Convictions

Lowenstein Sandler LLP

SDNY Decision Makes It Harder For Employers To Recoup Legal Fees From Convicted Employees

Lowenstein Sandler LLP on

Companies commonly advance millions in legal fees to employees fighting securities fraud and other charges related to work performed in connection with the employment. When employees proceed to trial, that number can balloon...more

Patterson Belknap Webb & Tyler LLP

Insider Trading Conviction Affirmed for Corporate Outsider

In United States v. Chow, the Second Circuit (Kearse, Carney, Bianco), affirmed the defendant’s 2018 conviction for insider trading (among other offenses). The case arose out of a failed 2016 merger spearheaded by Defendant...more

Sheppard Mullin Richter & Hampton LLP

Hello, Newman. A Second Circuit Panel Revives U.S. v. Newman’s Personal Benefit Test, Maybe.

On June 25, 2018, the Second Circuit Court of Appeals issued a revised opinion in United States v. Martoma, No. 14-3599, Dkt No. 226. (2d Cir. Jun. 25, 2018) (“Martoma”). While the outcome for Matthew Martoma does not...more

Patterson Belknap Webb & Tyler LLP

Second Circuit Reverses Conviction in Bond Market Misrepresentation Case, but Endorses Government Theory of Materiality

On December 8, 2015, the United States Court of Appeals for the Second Circuit reversed the conviction of Jesse C. Litvak, a securities broker and trader at Jefferies & Company. Litvak had been convicted of various counts of...more

Morgan Lewis

Second Circuit Overturns Fraud Convictions in United States v. Litvak

Morgan Lewis on

The Second Circuit found no proof of material misrepresentations as to some charges, and held that expert testimony was improperly excluded as to others. On December 8, the US Court of Appeals for the Second Circuit...more

Katten Muchin Rosenman LLP

Eleventh Circuit Clarifies Loss Amount Calculation for Securities Fraud Sentencing

The US Court of Appeals for the Eleventh Circuit recently vacated and remanded a defendant’s sentence because the US District Court for the Southern District of Florida inappropriately added a sentencing enhancement after...more

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