The Commission took the unprecedented of dismissing the insider trading action against former Goldman Sach director Rajat Gupta, noting that he challenged the administrative proceeding in district court. The SEC reserved the right to file a federal court action. No such action has been filed to date...
Following the crash of the market for auction rate
securities in early 2008, regulators as well as private litigants brought a
series of suits against the brokerage houses which sold the securities.
Typically the suits claimed that sells had misrepresented the risks in the
market claiming, for example...
The Commission prevailed on its appeal to the Eleventh
Circuit Court of Appeals in an action against Morgan Keegan & Co. The case
centers on claims that the firm defrauded its customers in connection with the
purchase and sale of auction rate securities or ARS as the market crisis