Judge Signs Off On $1.2M Deal With Securities Fraud Conduits

Law360, New York (February 7, 2012, 7:43 PM EST) -- A Texas federal judge on Tuesday approved a $1.2 million settlement between the receiver of the now-defunct Kaleta Capital Management Inc. and the owners of an investment firm that allegedly helped perpetrate a $10 million fraudulent securities offering, over the objections of certain investors.

U.S. District Judge Nancy F. Atlas overturned the objections of investors who had become victims of the scheme, finding that the proposed settlement was “sufficient, fair and necessary,” despite claims that it did not adequately compensate for losses suffered by the investors....
To view the full article, register now.




Case Information

Case Title

Securities & Exchange Commission v. Kaleta et al

Case Number



Texas Southern

Nature of Suit



Judge Nancy F. Atlas

Date Filed

November 13, 2009

Law Firms

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.