LexisNexis® Legal Newsroom
Thomas O. Gorman
This Week In Securities Litigation (Week ending October 2, 2015)

September 30 th Madness dominated this week. The drive for stats was evident as the Commission stacked up cases like cord wood at a pace seldom seen. Twenty-two municipal bond actions were filed in one swoop; an insider trading case; a financial fraud...

Thomas O. Gorman
UBS Puerto Rico, Others Tied to SEC Fraud Action

When the bond market collapsed in Puerto Rico many clients at UBS Financial Services Incorporated of Puerto Rico had significant losses. Many had purchased shares of UBS PR closed-end funds or CEFs. UBSPR had been selling shares of these funds for years...

Kevin M. LaCroix
Volkswagen Vehicle Emissions Scandal Triggers U.S. Securities Suit, Dutch Collective Action Initiative

The news that Volkswagen employed sophisticated software-based “defeat devices” in order to permit a number of its diesel-engine models to appear to meet U.S. emissions standards has dominated the headlines in the business pages over the last...

Thomas O. Gorman
Financial Fraud: An SEC Staple?

Since the SEC announced the formation of its Financial Fraud Task Force two years ago the agency has struggled to establish this once enforcement mainstay as a current staple. Some commentators have suggested that a trend is emerging in this area. To...

Thomas O. Gorman
This Week In Securities Litigation (Week ending September 25, 2015)

The Commission responded to critics of its administrative proceedings this week, proposing changes to the Rules of Practice which govern them. If adopted the new rules would modify the time period within which the actions must be completed, permit depositions...

Thomas O. Gorman
SEC Files Settled Financial Fraud Action

Financial fraud actions have traditionally been a staple of SEC Enforcement. During the market crisis, however, the number of those cases waned. Following the formation of a task force focused on financial statement fraud, and a related data group, many...