News & Analysis as of

Securities Fraud Department of Justice (DOJ)

White & Case LLP

DOJ & SEC Bring Enforcement Actions Against Short Sellers, Highlighting Continued Prevalence of Short Selling Against Public...

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The US Securities and Exchange Commission (SEC) and the US Department of Justice (DOJ) recently announced parallel actions against an activist short seller and his firm, charging them with multiple counts of securities fraud....more

Seward & Kissel LLP

SEC Charges Short Publisher for Manipulation Scheme Targeting Retail Investors

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On July 26, 2024, the Securities and Exchange Commission (SEC) filed a Complaint in the U.S. District Court in Los Angeles charging activist short publisher Andrew Left and Citron Capital, LLC, an investment adviser he...more

Morrison & Foerster LLP

Top 10 International Anti-Corruption Developments for June 2024

Designed for busy in-house counsel, compliance professionals, and anti-corruption lawyers, this newsletter summarizes some of the most important international anti-corruption law and enforcement developments from the past...more

ArentFox Schiff

SEC v. Jarkesy’s Implications for Environmental Enforcement Actions

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On June 27, the US Supreme Court issued an opinion in SEC v. Jarkesy that limits the US Securities and Exchange Commission’s (SEC) ability to administratively seek civil penalties against defendants for securities fraud....more

White & Case LLP

DOJ’s Novel Application of Insider Trading to 10b5-1 Plans Leads to Conviction

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In April, we issued an alert discussing the U.S. Securities and Exchange Commission ("SEC") and Department of Justice’s ("DOJ") expansion of insider trading to 10b5-1 plans. On June 21, 2024, a federal jury in California...more

BCLP

Conviction of Insider in Connection with 10B5-1 Trading Plan

BCLP on

As discussed in our March 3, 2023 post, the DOJ and SEC brought an insider trading case against the founder and former CEO and Executive Chairman of Ontrak, Inc. based upon the former executive failing the “clean hands”...more

Kohn, Kohn & Colapinto LLP

Department of Justice Secures Conviction in First Insider Trading Prosecution Based Exclusively on the Use of Rule 10b5-1 Trading...

On June 21, a jury in the U.S. District Court for the Central District of California found the former CEO and Chairman of Ontrak, Inc., a publicly traded healthcare company guilty on one count of securities fraud and two...more

Morrison & Foerster LLP

Takeaways for In-House Counsel from DOJ’s First Insider Trading Trial Involving a Rule 10b5-1 Plan

On June 21, 2024, a jury in California federal court found a former chief executive officer of a publicly traded healthcare company guilty of insider trading in United States v. Peizer, the first criminal insider-trading case...more

BCLP

SEC and DOJ Heighten Focus on AI Washing

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The SEC recently charged Ilit Raz, the CEO of Joonko Diversity Inc., a failed recruitment startup, with "AI washing" based on allegedly false claims that her company had developed an “automatic recruiting solution” to help...more

Lathrop GPM

United States Department of Justice and United States Securities and Exchange Commission Jointly Target FAT Brands, Its Founder,...

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On May 10, 2024, the DOJ announced criminal indictments and the SEC filed a civil lawsuit for alleged securities fraud against FAT Brands and related persons....more

BakerHostetler

Weekly Blockchain Blog - May 2024

BakerHostetler on

Fintech and Crypto Firms Announce New Cryptocurrency Products - According to recent reports, a major U.S. fintech firm will begin letting its users accept payments in USDC. ...more

ArentFox Schiff

Investigations Newsletter: Former Comptroller of Ecuador Convicted in International Bribery and Money Laundering Scheme

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Former Comptroller of Ecuador Convicted in International Bribery and Money Laundering Scheme - On April 24, a Miami jury convicted Carlos Ramon Polit Faggioni, the former Comptroller General of Ecuador, for his role in an...more

Morrison & Foerster LLP

DOJ Criminal Division Initiates Self-Disclosure Pilot Program for Individuals

On April 15, 2024, the Criminal Division of the Department of Justice (DOJ) announced a new pilot program setting forth the circumstances in which it will offer non-prosecution agreements (NPAs) to individuals who voluntarily...more

Husch Blackwell LLP

Let’s Make a Deal with DOJ: The Impact of the DOJ’s New Whistleblower Reward Program on Corporate Compliance

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While Monty Hall (or for the current generation, Wayne Brady) was nowhere in sight, it was difficult not to think about the show “Let’s Make a Deal” while sitting in the audience at the American Bar Association’s 39th...more

Vinson & Elkins LLP

Inside(r) Scoop: The DOJ Struggles to Prosecute Insider Trading

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Amidst the government’s ongoing efforts to combat insider trading, a recent dismissal of criminal charges for insider trading gives new insight into this constantly evolving area of law. A federal judge recently dismissed...more

Benesch

White Collar Quarterly Report | Q1 2024

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We are thrilled to introduce the inaugural issue of our quarterly White Collar newsletter, a dedicated resource from Benesch’s White Collar, Government Investigations & Regulatory Compliance Practice Group. Each issue...more

ArentFox Schiff

Investigations Newsletter: Health Care Network Settles False Claims Act Allegations for $345 Million

ArentFox Schiff on

Health Care Network Settles False Claims Act Allegations for $345 Million - Community Health Network Inc. (CHN) has agreed to pay $345,000,000 to settle allegations that it violated the False Claims Act (FCA) for knowingly...more

Skadden, Arps, Slate, Meagher & Flom LLP

2024 Insights: Enforcement and Litigation

Expert Allegations Could Become More Frequent in Securities Fraud Complaints and Possibly Erode Pleading Standards - A Ninth Circuit panel ruling that plaintiffs could use expert analysis to bolster securities fraud claims...more

ArentFox Schiff

Investigations Newsletter: Two Individuals Indicted for Operating $25 Million Crypto-Fraud

ArentFox Schiff on

Two Individuals Indicted for Operating $25 Million Crypto-Fraud - On December 11, a federal court in California unsealed a superseding indictment, which charged two men with operating a $25 million cryptocurrency fraud...more

Polsinelli

Blockchain+ Bi-Weekly - November 2023 #2

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The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart...more

ArentFox Schiff

Investigations Newsletter: DOJ’s First Criminal Securities Fraud Prosecution Related to COVID-19 Results in Eight-Year Sentence

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DOJ’s First Criminal Securities Fraud Prosecution Related to COVID-19 Results in Eight-Year Sentence - Mark Schena, the former president of Arrayit Corporation, a Silicon Valley-based medical technology company, was...more

Troutman Pepper

Turning up the Heat – A Look at the FTC’s Groundbreaking Fine Against Bankrupt Digital Asset Services Provider Celsius Network LLC...

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In this episode of The Crypto Exchange, Troutman Pepper Partner Ethan Ostroff welcomes his colleagues Kim Phan and Addison Morgan to discuss the recent enforcement actions brought by the Federal Trade Commission (FTC) against...more

The Volkov Law Group

U.S. Department of Justice Unseals Indictment against Celsius Network’s Alexander Mashinsky

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On July 13, 2023, U.S. prosecutors unsealed an indictment against Alexander Mashinsky, the founder and former CEO of beleaguered Celsius Network LLC (“Celsius”) charging him with securities fraud, commodities fraud, and wire...more

Jones Day

Federal Agencies Coordinate Action Against Celsius for Fraud and Manipulation

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In Short - The Situation: In parallel federal actions, the Department of Justice ("DOJ"), Securities and Exchange Commission ("SEC"), Commodity Futures Trading Commission ("CFTC"), and Federal Trade Commission ("FTC")...more

Morgan Lewis

US Government Continues to Crack Down on Insider Trading with Four Coordinated Actions

Morgan Lewis on

The US Securities and Exchange Commission (SEC) and Department of Justice (DOJ) on June 29, 2023 brought insider trading charges against several defendants in four proceedings. The insider trading cases demonstrate key focus...more

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