Convicted insider trader Raj Rajaratnam was hit with a $92.8 million penalty Tuesday as New York federal Judge Jed S. Rakoff granted summary judgment for the Securities and Exchange Commission in the parallel civil case against the Galleon Group hedge fund founder.
Former Juniper Networks general counsel Lisa Berry’s backdating settlement with the Securities and Exchange Commission this week may have symbolized the end of an era — but the vigor with which the agency has pursued corporate executives on fraud claims has left a lasting impression on lawyers.
On Monday, Standard & Poor’s parent company McGraw-Hill reported its receipt of a Wells notice from the U.S. Securities and Exchange Commission, warning of potential civil charges against the ratings agency for its role in the recent mortgage crisis.
A Johnson & Johnson filing with the Securities and Exchange Commission this week shows that, although the company has reached a deal with prosecutors on Risperdal criminal charges, it has a long way to go before its civil litigation woes are over.