Litigation

Recent Posts

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

The Week in Securities Litigation: Criminal Charges Filed For Financial Fraud, SEC Actions
Posted on 1 Oct 2011 by Thomas O. Gorman

Current market volatility was addressed this week when the Commission announced that the exchanges and FINRA would be filing updated circuit breaker rules. In addition, the staff issued an Alert regarding the use of sub-accounts in market manipulations... Read More

High Court's Janus Decision May Be Creating New Division Between Primary Liability And Scheme Liability
Posted on 3 Oct 2011 by Thomas O. Gorman

The distinction between primary and secondary liability has been repeatedly litigated in securities damage cases, and to a lesser extent in SEC enforcement actions, since the Supreme Court handed down its decision in Central Bank of Denver v. First Interstate... Read More

This Week In Securities Litigation - Second Supreme Court Ruling This Term Favors Plaintiffs In Securities Class Actions
Posted on 10 Jun 2011 by Thomas O. Gorman

The Supreme Court handed its second ruling this Term which favors plaintiffs in securities class actions. What may well be the most important securities decision by the Court this term has yet to be decided. SEC enforcement brought additional insider... 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: 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

The Week in Securities Litigation: 2 Securities Bills Passed, Supreme Court Rules On Exchange Act
Posted on 31 Mar 2012 by Thomas O. Gorman

In rare acts of bipartisanship, the House and Senate passed two securities bills this week. One is the JOBS act which has little to do with creating jobs and lots to do with simplifying the regulatory requirements for certain companies post-IPO while... Read More

The Week In Securities Litigation: Supreme Court Hands Down 2 Significant Decisions
Posted on 2 Mar 2013 by Thomas O. Gorman

The Supreme Court handed down two significant securities law decisions this week. In the first the High Court, in unanimous opinion, rejected the contention of the SEC that the five year statute of limitations for seeking a penalty can be extended by... Read More

The Week In Securities Litigation: Hurricane Sandy Doesn't Stop SEC From Filing Actions
Posted on 2 Nov 2012 by Thomas O. Gorman

In a week when the financial markets were shut for two days by hurricane Sandy, the Commission filed actions focused on insider trading, financial fraud, false advertising, and, in addition, a stop order proceeding. One insider trading case stems from... Read More

The Week In Securities Litigation: SEC Brings 2 New Market Crisis Cases
Posted on 12 Jan 2013 by Thomas O. Gorman

The Supreme Court heard argument this week on a case which may have a significant impact on the SEC's enforcement program. It focuses on when the five year statute of limitations begins regarding the imposition of a penalty. The Commission also brought... Read More