LexisNexis® Legal Newsroom
The Week In Securities Litigation: SEC Focuses On Insider Trading, PCAOB Settles Action, Ashland Rulings

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...

Another ARS Case Is Rejected

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...

SEC Wins in Eleventh Circuit Against Morgan Keegan

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 unfolded. SEC...