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This Week in Securities Litigation (July 8, 2011)

The SEC and the DOJ resolved another bid-rigging case related to anticompetitive practices in the municipal securities markets. This is one of a series in an ongoing investigation. The SEC also prevailed on a summary judgment motion in an investment fraud action, filed a settled financial fraud case...

SEC’s Action Seeking PRC Audit Papers Moves Forward

The SEC's action seeking to compel the production of documents from the Chinese affiliate of Deloitte and Touche is moving toward resolution. The Court rejected a request by the audit firm for a stay pending the resolution of a Commission administrative proceeding which is based on similar issues...

SEC, People's Republic of China-Based Audit Firms Reach a Settlement

The SEC and the People's Republic of China (PRC)-based affiliates of five major accounting firms entered into a settlement of proceedings initiated over the failure to produce audit work papers for issuers with substantial operations in China. The settlement, which provides a mechanism for governing...