LexisNexis® Legal Newsroom
The Week In Securities Litigation: SEC Files Several Significant Actions, 2 Against Goldman Sachs

As the end of the government fiscal year approaches, the Commission filed several significant actions. Two involved Goldman Sachs and a former employee in a pay-to-play scheme centered on political contributions and business in the municipal markets. A significant market crisis case was brought against...

The Week In Securities Litigation: Market Crisis Action Goes To Trial

Events surrounding the collapse of the first money fund to "break the buck" are being played out in a New York City courtroom on SEC charges that the principles of the fund misrepresented its financial condition in the wake of massive redemption demands. Investors lost confidence in the Reserve...

The Week In Securities Litigation: SEC Settles 'Suspicious Trading' Insider Trading Action

Significant events this week included the proposal by the SEC of additional swaps rules regarding security-based swap dealers and major participants. Enforcement settled a "suspicious trading" insider trading action with a Hong Kong based entity while initiating a case against an investment...

The Week In Securities Litigation: Focus On White Collar Criminal Securities Cases

The focus this week was on white collar criminal securities cases. First, Rajat Gjupta, the former Goldman Sachs director convicted of passing confidential information to former hedge fund mogul Raja Rajartnam was sentenced. Second, Mr. Rajartnam's appeal of his conviction on insider trading and...

The Week In Securities Litigation: SEC, CFTC Chairmen Testify; 2 Sentenced To Long Prison Terms

SEC Chairman Elise Walter and CFTC Chairman Gary Gensler testified before a Senate Committee this week, focusing on the implementation of Dodd-Frank. The SEC also approved the budget for the PCAOB. Two former senior executive in the organization of jailed Ponzi schemer Allen Stanford were sentenced...

The Week in Securities Litigation: SEC Files Another Reg FD Action

The recent NASDAQ outage was a key focus this week. The SEC held a meeting attended by the leaders of the securities and options exchanges, FINRA, DTCC and the Options Clearing Corporation. At its conclusion the SEC Chair gave the participants a homework assignment: Come up with a list of concrete measures...