Litigation

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Goodwin Procter Expands Securities Litigation Practice With Addition Of Daniel J. Tyukody In Los Angeles
Posted on 18 Jul 2011 by LexisNexis Litigation Resource Community Staff

BOSTON - Goodwin Procter LLP , a national Am Law 50 firm, has announced that Daniel J. Tyukody has joined the firm's Litigation Department in Los Angeles as a member of its Securities Litigation & White Collar Defense Practice. He will focus... Read More

Parties Seek Approval Of $80 Million Settlement In Madoff Feeder Fund Suit
Posted on 8 Nov 2012 by Timothy Raub

NEW YORK - (Mealey's) Investors on Nov. 6 asked a federal judge in New York to preliminarily approve a potential $80.25 million settlement of claims that defendants concealed that the investors' funds were being placed in accounts that were part... Read More

Gibraltar Pays $65 Million To Settle Rothstein Ponzi Claims
Posted on 18 Sep 2012 by Michael J. Lello

FORT LAUDERDALE, Fla. - (Mealey's) The trustee for a bankrupt feeder fund and the trustee of convicted Ponzi schemer Scott W. Rothstein's law firm have agreed to an amended $65 million settlement with Gibraltar Private Bank and Trust Co., a bank... Read More

$410 Million Settlement Reached With Controller Of 4 Madoff Feeder Funds
Posted on 26 Jun 2012 by Timothy Raub

NEW YORK - (Mealey's) In what he called "one of the largest agreements of its kind," New York Attorney General Eric. T. Schneiderman on June 25 announced that he had reached a $410 million settlement with J. Ezra Merkin for his role in the... Read More

The Week in Securities Litigation: Jury Begins Deliberations In Stanford Ponzi Scheme Case, SEC Announces 2 Partial Settlements
Posted on 2 Mar 2012 by Thomas O. Gorman

This week the jury began deliberations in the Robert Allen Stanford Ponzi scheme case without hearing from Mr. Stanford despite promises to the contrary from defense counsel at the beginning of the trial. Granger announced an SEC FCPA probe centered on... Read More

The Week In Securities Litigation: A New Direction For Securities Enforcement Actions?
Posted on 25 Jan 2013 by Thomas O. Gorman

Changes at the top of the SEC and the DOJ's criminal division may signal a new direction for securities enforcement actions. Former U.S. Attorney Mary Jo White was nominated by the President to be SEC Chairman. At the same time Lanny Breuer, Assistant... Read More

Greenberg Traurig Agrees To Pay $61 Million To Settle Ponzi Claims
Posted on 22 Jun 2012 by Michael J. Lello

By Michael J. Lello HOENIX - (Mealey's) The law firm Greenberg Traurig LLP on June 20 agreed to pay $61 million to settle a suit in the U.S. District Court for the District of Arizona alleging that it aided an alleged Ponzi scheme that bankrupted... Read More

Prominent Athletes Sue Financial Advisor, SunTrust Bank Alleging Ponzi Scheme Investments
Posted on 20 Aug 2012 by Jordan D. Maglich

Several prominent athletes, including a newly-minted gold medalist member of the U.S. Olympic Soccer Team, have sued their former financial advisor and his employer, SunTrust Bank ("SunTrust"), alleging that they were unwitting investors in... Read More

$1 Billion Settlement Reached With 2nd-Largest Madoff Feeder Fund
Posted on 29 Jul 2011 by Timothy Raub

NEW YORK - (Mealey's) Liquidation trustee for Bernard L. Madoff Investment Securities LLC (BLMIS) Irving H. Picard and 30 investment funds and affiliates of money management company Tremont Group Holdings Inc. have agreed to settle claims associated... Read More

$550M Settlement For Family Secured By Madoff Trustee
Posted on 8 Dec 2010 by Timothy Raub

NEW YORK -- (Mealey's) The bankruptcy trustee for the investment company once run by convicted Ponzi scheme operator Bernard L. Madoff has secured $550 million in a settlement with the family of one of Madoff's earliest investors, according to... Read More

In Amended Complaint, Madoff Trustee Seek $226 M From Madoff Management
Posted on 15 Nov 2011 by Jordan D. Maglich

The court-appointed trustee overseeing the unraveling of Bernard Madoff's massive Ponzi scheme has filed an amended complaint in which he is seeking the return of $226.4 million from several Madoff family members including Madoff's brother, sons... Read More

The Week In Securities Litigation: SEC Heading For Record Year Of Settled Enforcement Actions
Posted on 7 Jul 2012 by Thomas O. Gorman

The SEC is heading for a record year in terms of the number of settled enforcement actions according to a new report by NERA. The Commission also lost its bid to compel SIPIC to provide coverage for those who purchased CDs from the off-shore bank operated... 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

Madoff Bankruptcy Trustee Secures Largest Feeder-Fund Bank Settlement
Posted on 8 Dec 2010 by Timothy Raub

NEW YORK - (Mealey's) The trustee of the bankruptcy estate of convicted multibillion-dollar Ponzi scheme mastermind Bernard L. Madoff secured a nearly $500 million settlement with a feeder fund of Madoff's investment firm, according to documents... Read More