Thomas O. Gorman On This Week in Securities Litigation

As the Galleon insider trading trial draws to a close and the Lindsey FCPA trial moved forward in the Central District of California, one of the few senior executives charged in a market crisis case was found guilty by a jury after a ten day trial. SEC enforcement brought actions based on an undisclosed...

The Week In Securities Litigation: SEC Continues Implementing Dodd-Frank

The SEC continued implementing Dodd-Frank this week. New rules were issued regarding hedge fund registration and exemptions. SEC enforcement resolved two significant market crisis cases this week. In one the agency filed a settled action against J.P. Morgan Securities regarding the sale of interests...

The Week In Securities Litigation: SEC Focuses On Insider Trading, PCAOB Settles Action, Ashland Rulings

The Commission took the unprecedented of dismissing the insider trading action against former Goldman Sach director Rajat Gupta, noting that he challenged the administrative proceeding in district court. The SEC reserved the right to file a federal court action. No such action has been filed to date...

The Week In Securities Litigation: Scandal Surfaces Again At The SEC

Scandal surfaced again at the SEC this week. The SEC IG referred a matter involving the former general counsel of the agency to the DOJ. The matter centers on conflicts arising out of his handling of the Madoff clawback claims for the Commission. That referral was followed by testimony before a House...

The Week in Securities Litigation: Galleon Defendants Sentenced; SEC Files, Settles Cases

This week three Galleon related defendants were sentenced to prison for insider trading, including Raji Rajaratnam. The Commission filed another significant market crisis case naming the senior officers of a failed bank as defendants. The Commission also filed a settled insider trading case, an action...

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...