LexisNexis® Legal Newsroom
Thomas O. Gorman
This Week in Securities Litigation (Week ending October 9, 2015)

The PCAOB filed a settled action involving an auditing firm in which the consent order of settlement was based on admissions of facts. The approach is similar to the one adopted by the SEC in which the Commission requires admissions of fact in select...

Thomas O. Gorman
SEC Settles With Blackstone on Disclosure Issues

The SEC’s Asset Management Unit continues to review and analyze fees, expenses and the related disclosure at private equity firms. The Unit has encouraged advisers to self-report these issues. The most recent action emanating from the review involves...

Thomas O. Gorman
SEC Files Settled Action Tied to Restatement

The SEC filed another action centered on a restatement resulting from improper accounting and internal controls. In this instance the firm lacked procedures for dealing with related party transactions despite contrary disclosures and failed to properly...

Thomas O. Gorman
DC Circuit: No Jurisdiction For Suits Re SEC Forum Selection Choice

Suits challenging the SEC’s forum selection decisions continue to proliferate. As the trend has unfolded the Commission posted a memo on its website discussing the issue of forum selection and has proposed modifications to the Rules of Practice...

Timothy Raub
U.S. Supreme Court Won’t Hear Appeal in Newman Insider Trading Suit

WASHINGTON, D.C. — (Mealey’s) The U.S. Supreme Court today declined review of a Second Circuit U.S. Court of Appeals ruling overturning the conviction of two portfolio managers alleged to have engaged in an insider trading scheme ( United...

Kevin M. LaCroix
Tesco Securities Suit: Applicability of U.S. Securities Laws to Unlisted ADRs?

It has been over five years since the U.S. Supreme Court’s June 2010 decision in Morrison v. National Australia Bank restricted the ability of shareholders of non-U.S. companies who purchased their shares outside the U.S. to file securities fraud...