Securities

Recent Posts

Lead Plaintiff, Goldman Sachs Agree to Settle Claims in Securities Class Action
Posted on 19 Jul 2012 by LexisNexis® Mealey's™ Legal News

NEW YORK - (Mealey's) Lead plaintiffs in a securities class action lawsuit against Goldman Sachs & Co. Inc., certain of its subsidiaries and officers and directors and three ratings agencies have agreed to settle their claims against the defendants... Read More

This is "God's Work"?
Posted on 20 Apr 2010 by Brian JM Quinn

About a year ago, Lloyd Blankfein tried to burnish Goldman Sachs' post-financial crisis image by arguing in an interview with the Times of London that Goldman was performing God's work by bringing buyers and sellers together to do deals and... Read More

This Week In Securities Litigation (Week ending June 15, 2012)
Posted on 18 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

eToys and the Rigged IPO Game
Posted on 12 Mar 2013 by Brian JM Quinn

Joe Nocera in the Times last Sunday unearthed some Goldman emails about the eToys IPO from the dotcom era. eToys raised $164 million in a 1999 IPO and then subsequently failed. The story is familiar by now. The IPO was underpriced and Goldman spun... Read More

Sex and The City, Goldman and SEC Enforcement
Posted on 21 Jun 2010 by Thomas O. Gorman

Carrie Bradshaw, the central character of HBO's Sex And The City , was a journalist who wrote about relationships. The show typically began with Ms. Bradshaw pondering some aspect of her current or past relationships and then posing a question... Read More

High Stakes for the SEC, Goldman and Investors
Posted on 19 Apr 2010 by Thomas O. Gorman

The Commission's action against Goldman Sachs is the most significant case it has brought in years. SEC v. Goldman Sachs & Co. , Case No. 3229 (S.D.N.Y. Filed Apr. 16, 2010). The case pits the once revered securities markets regulator struggling... Read More

O.K., So The SEC Sued Goldman Sachs - Now What?
Posted on 19 Apr 2010 by Kevin M. LaCroix

The SEC's blockbuster announcement last Friday of its civil enforcement action against Goldman Sachs and one of its investment bankers rocked the securities markets and made headlines in the financial press around the world. Undoubtedly because... Read More

This Week In Securities Litigation (Week ending October 26, 2012)
Posted on 29 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

Goldman Sachs, Fabulous Fab, and Morrison's Second Prong
Posted on 27 Oct 2012 by Kevin M. LaCroix

In its June 2010 decision in the Morrison v. National Australia Bank [ enhanced version available to Lexis.com subscribers ], the U.S. Supreme Court enunciated a "transactions" test to determine the applicability of the U.S. securities laws... Read More

Former Goldman Sachs Director Raj Rajaratnam Ordered to Pay $13.9M Penalty To Settle SEC Insider Trading Suit
Posted on 18 Jul 2013 by Timothy Raub

NEW YORK — (Mealey’s) A federal judge in New York on July 17 ordered a former Goldman Sachs Group Inc. director to pay a $13.9 million penalty to settle claims with the Securities and Exchange Commission that he provided inside information... Read More

The Latest Galleon Case: Illegal Tips from a Goldman Director
Posted on 2 Mar 2011 by Thomas O. Gorman

On the eve of the criminal insider trading trial of Raja Rajaratnam the SEC unveiled the latest chapter in the investigation into the founder of Galleon Management LLC: he had been illegally tipped by a former Goldman Sachs and current Proctor and... Read More

Dismissal Denied in Goldman Sachs CDO Disclosure Securities Suit
Posted on 28 Jun 2012 by Kevin M. LaCroix

In a harsh June 21, 2012 opinion, Southern District of New York Judge Paul A. Crotty rejected the motion to dismiss of Goldman Sachs and three individual defendants in the securities class action lawsuit pertaining to the infamous "built to fail"... Read More

For SEC Enforcement, What Is the Encore?
Posted on 22 Jul 2010 by Thomas O. Gorman

The commentary, speculation and second guessing about the SEC's settlement in Goldman may be drawing to a close, or at least diminishing. There is no doubt that Goldman is the most significant market crisis case to come from the numerous investigations... Read More

Court Rejects Rating Agencies' Argument that Credit Crisis Alone Caused Investor Losses
Posted on 29 Apr 2010 by Kevin M. LaCroix

In a April 26, 2010 opinion ( here ) that could have significant implications for motions to dismiss in the many subprime-related securities actions pending against the rating agencies, Southern District of New York Judge Schira Scheindlin rejected... Read More