Already facing years in jail and millions of dollars in fines, a former executive of defunct Watch Hill Capital Management has received final judgment by consent in the SEC’s case against his allegedly fraudulent sale of $40 million in securities.
The head of an investment firm that defrauded clients of more than $30 million was sentenced to 11 years in prison and ordered to pay $32 million in restitution amid cries from former clients for a harsher sentence.
As the web of litigation caused by the collapse of futures broker Refco expands to include investment banks, auditors, and attorneys, law firm Wilmer Cutler Pickering Hale & Dorr finds itself in the thick of the investigation, representing several banks that financed Refco’s initial public offering.
Securities and Exchange Commission Chairman Christopher Cox will soon name a well known former attorney and former physicist as its new chief legal officer, according to inside sources.
Oil and gas firm Stone Energy Corp. has been sued by investors for allegedly using fraudulent accounting practices to inflate the value of its “proven” oil reserves.
The Securities and Exchange Commission is taking steps to overhaul some of its filing requirements, hoping to reexamine reporting rules for foreign companies, accelerate filings, and simplify accounting language.
While Dura Pharmaceuticals may not be a household name like Enron, its entanglement in securities fraud allegations, and subsequent defense by Los Angeles-based law firm Paul Hastings LLC, have made it well-known among defense and plaintiffs firms alike.
Corporate counsel are nervously eyeing the trial against a pair of Hollinger Inc. attorneys amid signs federal regulators have set their sights on legal professionals who are seen as engaging in abusive conduct.
The Securities and Exchange Commission has reached a $25 million settlement with a company it probed for allegedly defrauding thousands of terminally ill patients by manipulating their life insurance policies.
The brother of a former Standard & Poors analyst that participated in a $1 million insider-trading scheme he orchestrated with his brother and a family friend has been sentenced to two years’ probation by a federal judge.
When once-high flying law firm Brobeck, Phleger & Harrison fell victim to the burst of the telecom bubble and shut its doors in 2003, over a thousand attorneys were left jobless. While the collapse left many shocked, Akin Gump Strauss Hauer & Feld saw an opportunity and scooped up the fallen California firm’s securities litigation practice group.
Merrill Lynch & Co. has been roped into the wide-ranging investigation of alleged conflicts of interest in the pension fund consulting industry, after receiving a subpoena from the Securities and Exchange Commission.
With the departure of veteran general counsel Giovanni Prezioso, the Securities and Exchange Commission is faced with yet another high-level vacancy to fill.
American Express Financial Corp., now known as Ameriprise Financial, will pay a total of $57.3 million to settle charges of illegal mutual fund share trading and brokerage misconduct brought by the Securities and Exchange Commission, the National Association of Securities Dealers and the state of Minnesota.
Along the trail of multi-billion dollar settlements signed off by investment banks retreating from Enron-related fraud allegations, you won’t find Merrill Lynch & Co. Inc. The firm is represented by New York City-based Shearman & Sterling LLP, which has so far steered clear of a costly agreement.
The Securities and Exchange Commission has begun an investigation into the participation of hedge funds in bankruptcy proceedings, concerned that some fund managers may be overstating their bond holdings in troubled companies in order to secure spots on creditors’ committees.
In the first-ever charges under the Sarbanes-Oxley ban on personal loans to corporate executives, the U.S. Securities and Exchange Commission has settled charges against a pair of Greek shipping executives.
In the largest settlement reached to date in the mutual fund “market timing” scandal, Millennium Hedge Fund and founder Israel Englander have agreed to pay $180 million to put an end to an investigation into a scheme that regulators say netted millions for the company.
The U.S. Securities and Exchange Commission, stepping up its policing of the lightly regulated $8 trillion hedge fund industry, has sued a money manager that controlled $200 million at one time but lost most of those assets while hiding debt.
The former Chief Financial Officer of TV Guide parent company Gemstar has reached a settlement with the Securities and Exchange Commission, which, if approved, will end the civil fraud lawsuit alleging she helped overstate Gemstar earnings by $223 million.