Litigation

Recent Posts

Maxim Announces $173 Million Settlement In Investor Backdating Class Action
Posted on 6 May 2010 by Dylan McGuire

SAN JOSE, Calif. — (Mealey’s) Technology company Maxim Integrated Products Inc. announced May 5 that it has reached an agreement in principle to settle an investor backdating class action in a California federal court for $173 million ( In... Read More

E*TRADE Announces $79 Million Settlement Of Subprime Claims In Securities Lawsuit
Posted on 23 Dec 2011 by Timothy Raub

NEW YORK - (Mealey's) E*TRADE Financial Corp. has agreed to a $79 million settlement with investors to settle claims that it misrepresented the risk associated with its investment in subprime mortgage-backed securities in violation of federal securities... Read More

Williams Mullen Alert: For Whom the Whistle Blows: Analysis Of The American Apparel Shareholder Derivative Litigation From A Whistleblower Perspective
Posted on 13 Aug 2012 by Williams Mullen

By Mary Pivec and Igor M. Babichenko I. INTRODUCTION On July 31, 2012, the United States District Court for the Central District of California dismissed without prejudice a shareholder derivative suit against American Apparel and its individual directors... Read More

SEC Reaches Settlement With Pennsylvania City Over Federal Securities Law Violations
Posted on 8 May 2013 by Timothy Raub

WASHINGTON, D.C. - (Mealey's) The Securities and Exchange Commission and the City of Harrisburg, Pa., have agreed to a cease-and-desist order preventing the city from continuing its violation of federal securities laws in connection with statements... Read More

Jury: BankAtlantic's Misrepresentations Violated Federal Securities Law
Posted on 19 Nov 2010 by Timothy Raub

FORT LAUDERDALE, Fla. - (Mealey's) A federal jury in Florida handed down a rare verdict in a securities class action lawsuit on Nov. 18, finding subprime lender BankAtlantic Bancorp. Inc. and certain of its executive officers guilty of federal securities... Read More

SEC Settles FCPA Claims With Oil Companies, Global Freight Forwarding Company For $237M
Posted on 8 Nov 2010 by Timothy Raub

WASHINGTON, D.C. -- The Securities and Exchange Commission has reached an approximately $237 million settlement with six oil service industry companies and global freight forwarding company Panalpina Inc., which are alleged to have bribed foreign officials... Read More

Law Firm To Pay $25 Million To Settle Nadel Ponzi Charges
Posted on 30 Aug 2012 by Michael J. Lello

TAMPA, Fla. - (Mealey's) A federal judge in Florida on Aug. 29 approved Holland & Knight LLP's agreement to pay $25 million to settle charges brought by the Securities and Exchange Commission that it helped hedge fund manager Arthur Nadel... Read More

Former BLMIS Controller Pleads Guilty To Role In Massive Ponzi Scheme
Posted on 22 Dec 2011 by Timothy Raub

NEW YORK - (Mealey's) The former controller of Bernard L. Madoff Investment Securities LLC (BLMIS) has pleaded guilty to criminal counts and agreed to cooperate with the U.S. government in its ongoing investigation into the fraud committed at BLMIS... Read More

U.S. Supreme Court Hears Oral Argument In Market Timing Case
Posted on 10 Jan 2013 by Timothy Raub

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on Jan. 8 heard oral arguments in an appeal of a Second Circuit U.S. Court of Appeals ruling allowing the Securities and Exchange Commission to seek penalties against defendants for securities fraud... Read More

SEC Reaches $200 Million Subprime Settlement With Investment Firms
Posted on 22 Jun 2011 by Timothy Raub

WASHINGTON, D.C. - (Mealey's) Investment adviser Morgan Asset Management Inc., broker-dealer Morgan Keegan & Co. Inc. and employees of both firms have agreed to pay more than $200 million to settle claims related to subprime mortgage-backed securities... Read More

Morgan Stanley To Settle Mortgage-Backed Securities Claims For $1.25B
Posted on 6 Feb 2014 by Timothy Raub

NEW YORK — (Mealey’s) Morgan Stanley will pay $1.25 billion to settle claims that it, certain of its subsidiaries and others misrepresented the investment quality in more than $10.58 billion in certificates in connection with 33 securitizations... Read More

Supreme Court To Hear Appeal In Market Timing Case
Posted on 25 Sep 2012 by Timothy Raub

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on Sept. 25 agreed to hear an appeal of a Second Circuit U.S. Court of Appeals ruling allowing the Securities and Exchange Commission to seek penalties against defendants for securities fraud for... Read More