Father and Son Plead Guilty to Insider Trading Charges

Posted by Thomas O. Gorman The U.S. Attorneys Office in Manhattan and the SEC continue to work in tandem in their war on insider trading. Their most recent cases were brought against a father and son. The father is Clayton Peterson, a member of the board of directors and chairman of the audit committee...

Former Madoff Employee Pleads Guilty, Agrees to Settle with SEC

The continuing saga of the Madoff Ponzi scheme has yielded another guilty plea and another Commission compliant. This time criminal and civil charges were brought against David Kugel, a longtime employee of Bernard L. Madoff Investment Securities LLC who is alleged to have participated in the fraud...

THE STAKES GET HIGHER

Judge Rakoff, in a December 27, 2011 order, denied the Commission's request for a stay of his order directing SEC v. Citigroup Global Markets, Inc., Case No. 11 Civ 7387 (S.D.N.Y.) to trial. That order, which followed the refusal of the District Court to enter a proposed settlement agreed to by the...

This Week In Securities Litigation (Week ending July 27, 2012)

SEC enforcement brought another insider trading action this week in addition to a case alleging a manipulation, one claiming violations of Regulation M, Rule 105 and one alleging a failure to supervise. The Manhattan U.S. Attorney's Office secured another guilty plea in its expert network insider...

The Second Circuit Crafts A Significant Insider Trading Ruling

The SEC won a significant victory in the Second Circuit, securing a reversal of summary judgment in a closely watched insider trading case. SEC v. Obus, Docket No. 10-4749 (2 nd Cir. Decided Sept. 6, 2012). Perhaps even more significant than the SEC victory is the Court's discussion of insider trading...