Recent Posts

Wick Phillips Adds to Its Bankruptcy And Litigation Practice Groups
Posted on 25 Aug 2010 by LexisNexis Litigation Resource Community Staff

DALLAS - Wick Phillips Gould & Martin LLP, a full-service business law firm, is expanding its bankruptcy and litigation practice groups with the hire of Jonathan Covin, a bankruptcy, restructuring and creditors' rights specialist. Covin has... Read More

Goldman Sachs To Pay $550M To Settle Charges It Misled Subprime Investors
Posted on 16 Jul 2010 by Dylan McGuire

NEW YORK - Goldman, Sachs & Co. has agreed to pay $550 million in penalties and to change its business practices to settle allegations brought by the U.S. Securities and Exchange Commission that it misled investors in a subprime mortgage product,... Read More

Plaintiffs In Subprime Mortgage-Backed Securities Litigation Win Substantial Victory
Posted on 14 Sep 2012 by Kevin M. LaCroix

Many of the toxic mortgage-backed securities that were a key part of the subprime mortgage meltdown were sold in multiple separate offerings based on the same shelf registration statement but separate prospectuses. Each separate offering included multiple... Read More

Another Libor Scandal Antitrust Lawsuit Filed, This One on Behalf of Derivatives Investors
Posted on 8 Aug 2012 by Kevin M. LaCroix

At the risk of sounding repetitive, I must report here that there has been yet another Libor-scandal related lawsuit filed in the Southern District of New York. The latest lawsuit, filed on July 30, 2012, purports to be filed on behalf of a class of investors... Read More

Delaware Vice Chancellor Dismisses Derivative Action Against Goldman Sachs Directors
Posted on 18 Oct 2011 by Francis G.X. Pileggi

In the case of In Re The Goldman Sachs Group, Inc. Shareholder Litigation , C.A. No. 5215-VCG (Oct. 12, 2011), read opinion here , Vice Chancellor Glasscock, in his first major corporate law decision, granted defendants' motion to dismiss a derivative... Read More

The Week In Securities Litigation: SEC Brings Action Against 8 Fund Directors, 2 Actions Focused On Chinese Issues
Posted on 14 Dec 2012 by Thomas O. Gorman

The SEC brought an action against eight fund directors, six of whom were independent and members of the audit committee, alleging that they caused material misstatements in the valuation of fund assets by failing to implement proper standards. The agency... Read More

Shareholders Launch Follow-On Securities Lawsuit Against Goldman Sachs
Posted on 30 Apr 2010 by Kevin M. LaCroix

The SEC's high-profile enforcement action against Goldman Sachs and one of its investment bankers may or may not revitalize the waning subprime and credit crisis-related litigation wave, but it has at least sparked an outbreak of follow on civil litigation... Read More

Goldman Sachs Discloses Derivative Actions Filed Against It In SEC Form
Posted on 4 May 2010 by Timothy Raub

WASHINGTON, D.C. - (Mealey's) Under-fire investment banking and securities firm Goldman Sachs Group Inc. has been hit with six shareholder derivative lawsuits in connection with its sale of collateralized debt obligations (CDOs) and its marketing... 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 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: Final Arguments In Insider Trading Case Against Gupta Heard; SEC Brings 2 Civil Injunctions
Posted on 16 Jun 2012 by Thomas O. Gorman

The jury heard final argument in the high profile insider trading case against former Goldman Sachs director Rajat Gupta this week. In a court room in the Southern District of Texas the high profile action against R. Allen Stanford concluded with his... Read More

This Week in Securities Litigation: Gupta Action, FCPA Enforcement, SEC Enforcement
Posted on 16 Jul 2011 by Thomas O. Gorman

This week the SEC lost its bid to dismiss an action brought by former Goldman Sachs director Rajat Gupta arising out of its insider trading case brought as an administrative proceeding against him. The GAO issued reports on the revolving door at the Commission... Read More

Ex-Goldman Director Sues SEC After Civil Charges
Posted on 21 Mar 2011 by LexisNexis Litigation Resource Community Staff

NEW YORK - (AP) A former Goldman Sachs board member accused the Securities and Exchange Commission on Friday of unfairly spoiling his reputation by accusing him of passing along inside information without ever bringing the accusations in federal court... Read More