LexisNexis® Legal Newsroom
Thomas O. Gorman
Father-Daughter Conclude Settlement With SEC

The SEC concluded its litigation with a father – daughter combination that solicited investors to purchase promissory notes based on representations that there would be risk free returns from forex trading. There were no returns, however, and most...

Thomas O. Gorman
SEC Commissioner Stein on “Short-Termism” and Corporate Boards

Two issues of continued importance to shareholders and the U.S. capital markets were recently discussed by SEC Commissioner Kara Stein. One the Commissioner called “short-termism” while the other focuses on the composition of corporate boards...

Thomas O. Gorman
This Week In Securities Litigation (Week ending May 1, 2015)

The SEC announced its first whistleblower award in a retaliation case this week. The agency also brought an insider trading case, an action against an investment adviser, its general counsel and auditor based on a conflict, a books and records action...

Thomas O. Gorman
SEC Sanctions Adviser, and Its CEO, GC and Auditor Based on Conflicts

Conflicts of interest are a central focus for the SEC. Indeed, conflicts are at the core of many of the actions brought against regulated entities. And, an undisclosed conflict was at the center of actions brought against a hedge fund, its founder, general...

Thomas O. Gorman
CIO Sentenced for Insider Trading

David Riley, formerly the Chief Information Officer of Foundry Networks, Inc. was sentenced to serve 60 months in prison and pay a $50,000 fine based on insider trading charges. He was found guilty by a jury following a 13 day trial. U.S. v. Riley, Case...

Thomas O. Gorman
SEC Halts Fraudulent Farm Loan Investment Program

The Commission initiated an action centered on the misuse of offering proceeds tied to farm loans. The defendants include an investment adviser, a financial planner and an attorney. SEC v. Veros Partners, Inc., Civil Action No. 14-cv-659 (S.D. Ind. Filed...