LexisNexis® Legal Newsroom
The Week in Securities Litigation: Rogue Trader, SEC Expands Market Crisis Probe

As the week drew to a close reports surfaced of a rogue trader who had run up $2 billion in trading losses at UBS in London while the SEC reportedly is expanding its market crisis probe. At the same time Congress heard testimony from SEC Chairman Mary Schapiro regarding the Commission's efforts to...

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: FCPA Action Part Of Sweep Of Medical Device Industry

The Commission approved new rules regarding the much discussed consolidated audit trail this week while continuing to issue rules under Dodd-Frank. Now the exchanges and FINRA will be required to implement the provisions regarding the consolidated audit trail. SEC enforcement brought actions centered...

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: $600 Million Insider Trading Settlement Reached

The Second Circuit's pending decision in the Commission's Citigroup market crisis case continues to loom as Judge Marreno approved the over $600 million insider trading settlement involving SAC Capital - conditioned on the outcome of Citigroup. New Chairman Mary Jo White's former partner...