Litigation

Recent Posts

Senior SEC Attorney Joins Labaton Sucharow To Launch Whistleblower Practice
Posted on 2 Aug 2011 by LexisNexis Litigation Resource Community Staff

NEW YORK - Jordan A. Thomas, a 16-year veteran of the federal government, has announced that he has left the U.S. Securities and Exchange Commission (SEC) to join Labaton Sucharow LLP and launch its Whistleblower Representation Practice. Labaton Sucharow... 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

The Week In Securities Litigation: SEC Chair Announces Resignation, SEC Prevails In 2 Court Actions
Posted on 30 Nov 2012 by Thomas O. Gorman

This week SEC Chairman Mary Schapiro announced her resignation, effective December 14, 2012. Commissioner Walter was designated as Chairman, effective after Ms. Schapiro's departure. Ms. Walter has indicated she will only remain as a member of the... Read More

The Week In Securities Litigation: SEC Settles 2 Insider Trading Cases
Posted on 22 Mar 2013 by Thomas O. Gorman

The SEC settled two insider trading cases this week in which S.A.C. Capital was named as a relief defendant. In one it obtained the largest payment to date in an insider trading case, about $600 million. Reportedly S.A.C. Capital will fund the settlement... Read More

Bernie Madoff Investors' Lawsuit Against SEC Tossed By Federal Appeals Court
Posted on 12 Apr 2013 by Jordan D. Maglich

Despite the 'regrettable inaction' by the Securities and Exchange Commission ("SEC") in failing to detect Bernard Madoff's historic $65 billion Ponzi scheme, a federal appeals court ruled that those victimized by Madoff's fraud... Read More

The Week in Securities Litigation: President Signs 2 Pieces Of Securities Legislation, Another Clawback Case Brought By SEC
Posted on 6 Apr 2012 by Thomas O. Gorman

At the start of the second quarter the focus was on the White House where two pieces of securities legislation were signed into law by the President. First, the STOCK Act, prohibiting the already illegal insider trading by Congress was signed. Later in... Read More

SEC Prevails In Lawsuit Challenging Conflict Mineral Rules
Posted on 22 Aug 2013 by Thomas O. Gorman

The Commission prevailed in a dispute challenging its conflict minerals rules brought by business groups, a seemingly rare event in view of recent rulings against the agency by the D.C. Circuit on such issues. The rules were those enacted under Section... Read More

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, Dodd-Frank Asset Valuations, Old Scandals Dominate
Posted on 20 Jan 2012 by Thomas O. Gorman

Insider trading, implementing Dodd-Frank, asset valuations and old scandals dominated the securities enforcement litigation this week. The U.S. Attorney's Office in Manhattan and the SEC brought more high profile insider trading cases focused on the... Read More

Word Of The Year For Securities Litigation: 'Whistleblower'
Posted on 24 May 2011 by Kevin M. LaCroix

A number of different organizations generate annual publicity for themselves by designating a word (or words) of the year . We are not yet half way through 2011 but I am already prepared to propose my own candidate for this year's word of the year... Read More

The Week In Securities Litigation: Canellos, Burger Appointed; Peregrine Founder Sentenced
Posted on 3 Feb 2013 by Thomas O. Gorman

George Canellos and David Burger were appointed, respectively, the Acting Director and Acting Deputy Director of the SEC's Division of Enforcement this week. The Division brought two insider trading cases this week as well as a case alleging fraudulent... Read More

The Week In Securities Litigation: 2 High Profile Enforcement Insider Trading Cases In The News
Posted on 9 Mar 2013 by Thomas O. Gorman

In Congress this week, a bipartisan bill was introduced to roll back part of the Dodd-Frank legislation related to swaps. It would expanded the swaps trading permitted by federally insured banks. Two high profile enforcement insider trading actions were... Read More

The Week In Securities Litigation: Securities Enforcement Focus Continues To Be SAC Capital
Posted on 24 May 2013 by Thomas O. Gorman

The focus this week in securities enforcement continues to be SAC Capital. The firm's owner received a grand jury subpoena in the on-going criminal and civil insider trading investigations being conducted by the Manhattan U.S. Attorney's Office... 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