SEC Wants Fenwick & West Booted From Insider Trader Suit

Law360, New York (October 24, 2011, 3:52 PM EDT) -- The U.S. Securities and Exchange Commission told a California court on Friday that a conflict should disqualify Fenwick & West LLP from representing an alleged participant in an $8 million insider trading scheme involving Tempur-Pedic International Inc. and Acxiom Corp. securities.

The SEC argued that Fenwick was ethically obligated to step down as Ming Siu's counsel because of a “direct, actual and profound” conflict arising from its former representation of another defendant in the lawsuit, Zisen Yu, who confessed to a criminal charge of conspiring to...
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