Securities

Recent Posts

The Battle Lines are Drawn over the Citigroup Settlement
Posted on 10 Nov 2011 by Thomas O. Gorman

The battle lines have been drawn over the proposed settlement in the SEC's action against Citigroup Global Markets, Inc. SEC v. Citigroup Global Markets, Inc., Civil Action No. 1:11-cv-07387 (S.D.N.Y.) ( here ). Judge Rakoff entered an order posing... Read More

Settlement Trends in Securities Class Actions
Posted on 2 Apr 2014 by Doug Esten

The future of securities class actions may hinge on the decision of the Supreme Court in Halliburton Co. V. Erica P. John Fund, Inc., No. 13-317 which is expected to be handed down by the end of the current term on June 30, 2014 ( here ) [ lexis.com subscribers... Read More

A Very High Stakes Gamble
Posted on 4 Jan 2012 by Thomas O. Gorman

The SEC and Judge Rakoff are squaring off in what can only be viewed as a very high stakes game of poker. At the center of the battle is the question of whether Judge Rakoff acted within his discretion in refusing to enter the settlement the Commission... Read More

Settlement Trends in Securities Class Actions
Posted on 2 Apr 2014 by Thomas O. Gorman

The future of securities class actions may hinge on the decision of the Supreme Court in Halliburton Co. V. Erica P. John Fund, Inc., No. 13-317 which is expected to be handed down by the end of the current term on June 30, 2014 ( here ) [ lexis.com subscribers... Read More

FCPA Settlement Day: DOJ Guidance on the Best Practices of a Corporate Compliance Program
Posted on 9 Nov 2010 by Thomas Fox

In what the FCPA Blog termed a day of making history "for the most companies to simultaneously settle FCPA-related violations, [the] Global logistics firm Panalpina and five of its oil-and-gas services customers resolved charges with the DOJ and... Read More

FCPA Settlement Day
Posted on 5 Nov 2010 by Thomas Fox

Today, in what the FCPA Blog called "making FCPA history", the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) announced the agreement by the Global logistics firm Panalpina and the energy companies Shell, Transocean... Read More

Class Actions: Fewer Settlements, More Dollars
Posted on 25 Mar 2013 by Thomas O. Gorman

Securities class actions settlements reached a 14 year low last year in terms of the number of cases resolved, according to a new report from Cornerstone Research ( here ). Nevertheless, the total dollars paid in those settlements more than doubled... Read More

Court Approves SEC Settlement In Citgroup – But Questions Remain
Posted on 27 Sep 2010 by Thomas O. Gorman

Two cases in recent months have peered into the SEC's normally opaque charging and settlement processes and raised disturbing questions. Bank of America , resolved earlier this year took repeated hearings to secure approval of the SEC's settlement... Read More

Neither Admit Nor Deny Is Not the Issue in SEC Settlements
Posted on 21 May 2012 by Thomas O. Gorman

The SEC's long established settlement practice of resolving enforcement actions without requiring an admission of liability - that is, on a neither admit nor deny basis - came under scrutiny again last week. On May 17, 2012 a House Committee held... Read More