Legal Book » exchange

Regulators Prepare to Examine the Facebook IPO

Master — Thu, 02 Feb 2012 07:40:21 +0000

As Facebook files its initial public offering paperwork with the Securities and Exchange Commission, regulators and potential investors will examine the company under a fiscal microscope and decide just how much they “like” its operational structure. What are the top three concerns for regulators?

The Upsides of the SEC’s No-Guilt Deals for In-House Lawyers

admin — Tue, 31 Jan 2012 07:15:10 +0000

The Securities and Exchange Commission offers no-admit settlements in about 99 percent of its cases. But companies aren’t the only defendants to benefit from these pacts. So do individuals, especially in-house counsel, by avoiding the nasty collateral consequences.

Rajaratnam Gets $93 Million Fine in SEC Case Against Him

admin — Wed, 09 Nov 2011 05:42:27 +0000

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.

Two State Street executives cleared of SEC charges of misleading investors

admin — Wed, 02 Nov 2011 04:17:48 +0000

The U.S.

Former Nixon Partner Sues Firm, Says He Was Made Scapegoat in SEC Probe

Master — Sat, 29 Oct 2011 02:58:38 +0000

A former Nixon Peabody partner caught up in a Securities and Exchange Commission investigation of a former client’s alleged securities fraud has sued the firm, claiming Nixon Peabody made him a scapegoat in the matter and took most of his $1.5 million book of business out from under him.

The End of an Era for Stock Option Backdating Scandals

admin — Thu, 13 Oct 2011 07:43:38 +0000

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.

Lisa Berry, GC at Two Companies With Backdating Problems, Settles SEC Charges

Master — Mon, 10 Oct 2011 22:04:05 +0000

Lisa Berry, the former general counsel for Juniper Networks and KLA-Tencor accused of backdating stock options, has settled her case with the Securities and Exchange Commission.

Lisa Berry, GC at Two Companies With Backdating Problems, Settles SEC Charges

admin — Mon, 10 Oct 2011 22:04:05 +0000

Lisa Berry, the former general counsel for Juniper Networks and KLA-Tencor accused of backdating stock options, has settled her case with the Securities and Exchange Commission. Berry has agreed to pay a civil penalty of $350,000 plus give up $77,120 in profits allegedly gained through backdating.

SEC Investigating Standard & Poor’s Role in Mortgage-Crisis CDO

admin — Tue, 27 Sep 2011 05:36:03 +0000

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.

Former SEC General Counsel Expected to Face DOJ Investigation

admin — Tue, 20 Sep 2011 06:21:09 +0000

The Securities and Exchange Commission is expected to ask the U.S. Department of Justice this week to examine whether former SEC general counsel David Becker violated any criminal conflict-of-interest laws related to his profits from the Bernard Madoff Ponzi scheme.

Johnson & Johnson Reports Deal with Prosecutors on Risperdal Criminal Charge; No End in Sight to Civil Off-Label Marketing Claims

Master — Thu, 11 Aug 2011 02:23:16 +0000

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.

Wachovia Bondholders Reach Record Settlement for $627 Million

admin — Sat, 06 Aug 2011 05:57:29 +0000

Wells Fargo stated in a quarterly filing with the Securities and Exchange Commission that it has agreed to settle litigation with Wachovia bondholders for $590 million.

Appeals Court Strikes Down SEC Proxy Access Rule

Master — Sat, 23 Jul 2011 07:55:51 +0000

In a case that generated substantial friend-of-the-court briefing, the D.C. Circuit has struck down a Securities and Exchange Commission rule that would have made it easier for shareholders of publicly traded companies to nominate corporate directors.

Federal Judge Rules Cuban Can’t Use "Unclean Hands" Defense in SEC Case

admin — Wed, 20 Jul 2011 04:57:16 +0000

In the latest development in billionaire entrepreneur Mark Cuban’s long-running battle with the Securities and Exchange Commission, a federal judge on Monday barred Cuban from accusing the SEC of misconduct in the insider trading case against him.

SEC Convinces Ninth Circuit To Reinstate Gateway Exec Convictions

Master — Sat, 25 Jun 2011 06:25:57 +0000

The Securities and Exchange Commission has won back two securities fraud jury verdicts against Gateway executives that were thrown out by a federal judge in 2007, thanks to a 9th Circuit ruling that there was substantial evidence to support the verdicts.

Would-Be Beer Company Owners Busted by SEC

Master — Fri, 10 Jun 2011 04:42:49 +0000

Think you can buy a $300 million beer company via Facebook and Twitter? Not on the U.S. Securities and Exchange Commission’s watch.

SEC Issues Second Wells Notice to LPHI, Naming CEO, CFO, and GC

Master — Thu, 09 Jun 2011 04:49:37 +0000

Life Partners Holdings announced this week that it has received a second Wells notice from the Securities and Exchange Commission concerning data it had released to investors. The amended notice said that SEC staff would recommend legal action against the company.

In Split Vote, SEC Approves New Rules to Reward Whistleblowers

admin — Thu, 26 May 2011 04:56:30 +0000

In a vote split along partisan lines, the U.S. Securities and Exchange Commission has approved final rules for rewarding whistleblowers who provide the agency with tips that lead to successful prosecutions.

In Split Vote, SEC Approves New Rules to Reward Whistleblowers

Master — Thu, 26 May 2011 04:56:29 +0000

With Glut of Vacant Jobs, SEC Turns to Headhunter for Help

Master — Wed, 25 May 2011 06:26:52 +0000

Legal jobs with the federal government are few and far between these days, but the Securities and Exchange Commission has multiple attorney openings, from entry-level positions up to a chief counsel spot.

SEC Announces Deferred Prosecution for Tenaris

Master — Wed, 18 May 2011 04:22:07 +0000

The Securities and Exchange Commission has announced that it has entered into a deferred prosecution agreement with Tenaris S.A. of Luxembourg over bribe payments — the first time the agency has ever used such a deal.

Life Partners Holdings GC Receives Wells Notice

Master — Tue, 17 May 2011 04:27:06 +0000

Life Partners Holdings has disclosed that it has received a Wells notice from the Securities and Exchange Commission, naming general counsel R. Scott Peden and others, that could lead to a “civil injunctive action.”

House Republicans Press SEC on Ex-General Counsel David Becker’s Ties to Madoff

admin — Thu, 03 Mar 2011 07:33:13 +0000

House Republicans have stepped up their letter-writing campaign questioning the Securities and Exchange Commission’s handling of its recently departed general counsel’s ties to Bernard Madoff.

Madoff Trustee Hits SEC General Counsel David Becker With Suit

Master — Thu, 24 Feb 2011 06:56:26 +0000

The top lawyer for the Securities and Exchange Commission has been named as a defendant in a clawback suit seeking the recovery of profits gained through investing with Bernard Madoff.

SEC probes Rothenberg investment case

Master — Wed, 16 Feb 2011 10:18:47 +0000

The Securities and Exchange Commission is investigating a Georgia attorney for possible violations of federal securities laws stemming from investments the SEC claims may be “completely fabricated.”