Litigation

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The Week In Securities Litigation: SEC Files 4 Settled Market Crisis Actions
Posted on 20 Jul 2012 by Thomas O. Gorman

The Commission entered into another deferred prosecution agreement this week while filing four settled market crisis actions. The agency also brought an unusual insider trading case centered on selling shares in a secondary offering and an accounting... Read More

The Week In Securities Litigation: FCPA A Focus, SEC Prevails In Court
Posted on 4 May 2013 by Thomas O. Gorman

The FCPA continued to be a focus this week. Another Alstrom executive was added to a pending criminal prosecution in a superseding indictment charging FCPA violations and money laundering. In court the Commission prevailed in the D.C. Circuit as well... Read More

The Week In Securities Litigation: Stanford CIO Pleads Guilty; 3 Sentenced In Insider Trading Scheme In U.K.
Posted on 27 Jun 2012 by Thomas O. Gorman

SEC Chairman Mary Schapiro appeared before Congress twice this week to testify. Before a Senate Committee she testified about mutual fund reform while before a House Committee her remarks focused on the loss at JPMorgan. SEC enforcement brought actions... Read More

The Week in Securities Litigation: Stiffened Sentences For Insider Trading, Securities Fraud
Posted on 20 Apr 2012 by Thomas O. Gorman

Congress heard testimony about the new approach the Commission is implementing to economic analysis in rule making from SEC Chairman Mary Schapiro this week. That approach focuses on the early and continued involvement of staff economists throughout the... Read More

The Week in Securities Litigation: FCPA The Topic After Mexican Wal-Mart Allegations
Posted on 27 Apr 2012 by Thomas O. Gorman

The FCPA is the topic of the week following the New York Times article detailing claims of violations in the Mexican subsidiary of Walmart which supposedly have been ignored for years. While that matter is under investigation, the DOJ and the SEC settled... 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 Resolves Action With Former Enron Executives, Brings 2 FCPA Cases
Posted on 21 Dec 2012 by Thomas O. Gorman

This week before Christmas Bloomberg reports that SEC Enforcement Director Robert Khuzami will resign shortly. The Director took over the Division at a difficult time and then presided over its most ambitious reorganization in history. In the last two... Read More

The Week in Securities Litigation: Rogue Trader, SEC Expands Market Crisis Probe
Posted on 16 Sep 2011 by Thomas O. Gorman

As the week drew to a close reports surfaced of a rogue trader who had run up $2 billion in trading losses at UBS in London while the SEC reportedly is expanding its market crisis probe. At the same time Congress heard testimony from SEC Chairman Mary... Read More

The Week In Securities Litigation: FCPA Action Part Of Sweep Of Medical Device Industry
Posted on 13 Jul 2012 by Thomas O. Gorman

The Commission approved new rules regarding the much discussed consolidated audit trail this week while continuing to issue rules under Dodd-Frank. Now the exchanges and FINRA will be required to implement the provisions regarding the consolidated audit... Read More

The Week in Securities Litigation: Galleon Defendants Sentenced; SEC Files, Settles Cases
Posted on 14 Oct 2011 by Thomas O. Gorman

This week three Galleon related defendants were sentenced to prison for insider trading, including Raji Rajaratnam. The Commission filed another significant market crisis case naming the senior officers of a failed bank as defendants. The Commission also... Read More

Alcantel-Lucent Settles FCPA Cases
Posted on 5 Jan 2011 by Thomas O. Gorman

The Department of Justice and the SEC settled FCPA cases with Alcantel-Lucent S.A., a company formed in a November 30, 2006 merger involving Paris, France based Alcantel, S.A. and U.S. based Lucent Technologies, Inc. U.S. v. Alcatel-Lucent S.A. , (S.D... Read More

The Week in Securities Litigation: Urban Clears Name, Charges Filed Against Credit Suisse
Posted on 3 Feb 2012 by Thomas O. Gorman

Former Farris Baker Watts General Counsel Ted Urban finally prevailed in his long running battle with the SEC to clear his name and reputation. The Commission, on an evenly divided vote, affirmed the initial decision of the Administrative Law Judge, dismissing... Read More

The Week In Securities Litigation: $600 Million Insider Trading Settlement Reached
Posted on 22 Apr 2013 by Thomas O. Gorman

The Second Circuit's pending decision in the Commission's Citigroup market crisis case continues to loom as Judge Marreno approved the over $600 million insider trading settlement involving SAC Capital - conditioned on the outcome of Citigroup... Read More