Litigation

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The Week In Securities Litigation: SEC Brings Another Insider Trading Action
Posted on 27 Jul 2012 by Thomas O. Gorman

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... Read More

The Week In Securities Litigation: Insider Trading Probe Focuses On Retired Baseball Player
Posted on 9 Jun 2012 by Thomas O. Gorman

As the insider trading trial of a former Goldman director continued in Manhattan, another insider trading probe moved to the playing field, according to a Reuters report. The probe reportedly focuses on a prominent retired baseball player and other athletes... Read More

The Week In Securities Litigation: SEC Seeks Budget Hike, Brings 2 New Actions
Posted on 10 May 2013 by Thomas O. Gorman

The focus this week was on the proposed SEC budget as new SEC Chair Mary Jo White told a House subcommittee that the agency needs about a 26% increase. Part of the additional funding is to hire almost 700 new staff members. SEC enforcement, in conjunction... Read More

The Week In Securities Litigation: SEC, CFTC Chairmen Testify; 2 Sentenced To Long Prison Terms
Posted on 16 Feb 2013 by Thomas O. Gorman

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... Read More

The Week In Securities Litigation: SEC Settles 'Suspicious Trading' Insider Trading Action
Posted on 19 Oct 2012 by Thomas O. Gorman

Significant events this week included the proposal by the SEC of additional swaps rules regarding security-based swap dealers and major participants. Enforcement settled a "suspicious trading" insider trading action with a Hong Kong based entity... Read More

The Week In Securities Litigation: Market Crisis Action Goes To Trial
Posted on 13 Oct 2012 by Thomas O. Gorman

Events surrounding the collapse of the first money fund to "break the buck" are being played out in a New York City courtroom on SEC charges that the principles of the fund misrepresented its financial condition in the wake of massive redemption... Read More

Thomas O. Gorman On This Week in Securities Litigation
Posted on 23 Apr 2011 by Thomas O. Gorman

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... Read More

The Week In Securities Litigation: Focus On White Collar Criminal Securities Cases
Posted on 27 Oct 2012 by Thomas O. Gorman

The focus this week was on white collar criminal securities cases. First, Rajat Gjupta, the former Goldman Sachs director convicted of passing confidential information to former hedge fund mogul Raja Rajartnam was sentenced. Second, Mr. Rajartnam's... Read More

The Week In Securities Litigation: SEC Files Several Significant Actions, 2 Against Goldman Sachs
Posted on 28 Sep 2012 by Thomas O. Gorman

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.... Read More

The Week In Securities Litigation: SEC Amends Insider Trading Case Against 2 Former Brokers
Posted on 28 Dec 2012 by Thomas O. Gorman

In this holiday shortened week the Commission amended an insider trading case brought against two former brokers to identify the source of the information, a research analyst who befriended a lawyer working on the underlying deal. The agency also resolved... Read More

The Week In Securities Litigation: Facebook IPO, Gupta Insider Trading Trial Dominate
Posted on 29 May 2012 by Thomas O. Gorman

For The Week ending May 25, 2012. This week much of the news was dominated by two events. One was the difficulties and issues surrounding the IPO for Facebook. The other was the insider trading trial of Rajat Gupta, formerly a Goldman Sachs director... Read More

Securities Litigation This Week: Looming Scandal, SEC Actions, Criminal Cases
Posted on 19 Aug 2011 by Thomas O. Gorman

The SEC is about to become entangled in another scandal, according to reports in the New York Times this week. The latest involves the destruction of documents, according to press reports. The Supreme Court's ruling on what constitutes primary... Read More

The Week In Securities Litigation: SEC Actions, Diago Plc, FINRA Investor Warning
Posted on 29 Jul 2011 by Thomas O. Gorman

The SEC entered into an agreement with the Capital Turkey Securities Regulator this week calling for mutual cooperation in a number of areas including enforcement. The Commission also continued implementing Dodd-Frank, issuing additional rules concerning... Read More

The Week in Securities Litigation: SEC Prevails In 4 Court Actions
Posted on 4 May 2012 by Thomas O. Gorman

The Commission prevailed in four court actions. In the district court the agency won a summary judgment motion against an investment adviser. In the Eleventh Circuit Court the SEC secured a pair of victories. In one it obtained the reversal of a grant... Read More

Thomas O. Gorman On This Week In Securities Litigation (May 27, 2011)
Posted on 28 May 2011 by Thomas O. Gorman

The Commission issued it controversial new Dodd-Frank whistleblower rules by a 3 to 2 vote this week. Many critics claim the rules will undermine corporate compliance programs. Insider trading is the key theme this week. Insider trading on Capitol... Read More