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...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Securities and Exchange Commission v. Tang et al


Case Number

3:09-cv-05146

Court

California Northern

Nature of Suit

Securities/Commodities

Judge

Joseph C. Spero

Date Filed

October 30, 2009

Law Firms

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.