As we approach the fifth anniversary of the collapse of the massive multi-billion dollar Bernard Madoff Ponzi scheme, a bipartisan bill has been introduced in the House of Representatives that would address one of the issues that seemed to most rankle... Read More
A New York-based penny stock financier and his firms have settled charges that they violated the federal securities laws when they purchased billions of shares in a pair of microcap companies and failed to register them before they were re-sold to investors... Read More
Jillian B. Berman, who served for nine years as an Assistant U.S. Attorney at the U.S. Attorney’s Office for the Southern District of New York, has become a partner at Levine Lee LLP in New York City. As an Assistant U.S. Attorney, Berman directed... Read More
The wave of financial fraud prosecutors joining private law firms is continuing – in fact, it appears to be accelerating. Consider that, in just the past couple of days, David Meister, who ran the enforcement unit at the Commodity Futures... Read More
David B. Massey, a former Assistant U.S. Attorney for the Southern District of New York, has joined the New York office of Richards Kibbe & Orbe LLP as a partner. Massey worked in the U.S. Attorney’s criminal division in Manhattan from 2004... Read More
Aubrey Lee Price, a former director of Montgomery Bank & Trust (“MB&T”) in Ailey, Georgia, is not dead after all. Well more than a year ago, Price sent acquaintances a suicide note stating that he planned to kill himself by throwing... Read More
Roger L. Baeza, an accountant from Jal, New Mexico, has been sentenced to 61 months in federal prison, followed by three years of supervised release, for his conviction on securities fraud, access device fraud, and aggravated identity theft charges. Baeza... Read More
Peter Madoff – Bernard Madoff’s brother – has been disbarred. Just about five years to the day after Bernard Madoff’s Ponzi scheme came to light, just about one year to the day after Peter Madoff was sentenced to consecutive... Read More
The managing clerk of the New York office of Simpson Thacher & Bartlett LLP – a prominent, international law firm – and a professional stockbroker who worked at Oppenheimer & Co. and Morgan Stanley have been arrested and charged with... Read More
Millions of previously hidden U.S. stock trades will be revealed for the first time on Monday December 9. Previously, odd lots, which are trades of fewer than 100 shares, have not been revealed on the publicly available “consolidated tape,”... Read More
Once again, Cornerstone Research and the Stanford Law School Securities Class Action Clearinghouse have prepared an annual report on the securities class action filings. And, once again, the report, Securities Class Action Filings—2013 Year in Review... Read More
Most federal prosecutors who move to private law firms use their government experience in financial fraud cases such as white collar crime, securities fraud, bank fraud, and money laundering to become defense lawyers. Matthew S. Axelrod, one of the highest... Read More
Trial lawyer John P. “Sean” Coffey has joined Kramer Levin Naftalis & Frankel LLP as a partner in the firm’s New York office, where he will serve as the chair of complex litigation. As co-managing partner of the plaintiffs’... Read More
The Financial Industry Regulatory Authority (FINRA) has barred brokers Fernando L. Arevalo and Jimmy E. Caballero from the securities industry for allegedly converting approximately $300,000 from an elderly widow with diminished mental capacity and for... Read More