We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Securities

  • January 15, 2019

    Chimera Pump-And-Dump Conspirator Takes $3M Plea Deal

    One of the seven individuals charged in what prosecutors say is a $48 million stock manipulation scheme involving Chimera Energy Corp. and other companies has entered a plea agreement with the government that requires him to forfeit up to $3 million he earned from the alleged scam.

  • January 15, 2019

    McDermott Int'l Sued After Stock Drops 60% Post-Merger

    Houston-based engineering and construction company McDermott International Inc. has been hit with a proposed shareholder class action in Texas federal court alleging its failure to disclose the true cost of acquiring Chicago Bridge and Iron NV resulted in the company's stock price plummeting more than 60 percent.

  • January 15, 2019

    Securities Group Of The Year: Cleary

    Cleary Gottlieb Steen & Hamilton LLP earned victories in some of 2018's most high-profile cases, settling landmark securities litigation over the Petrobras scandal and defeating an attempt to strip voting control from CBS Corp.'s parent company, earning it a spot among Law360's Securities Practice Groups of the Year for the second year in a row.

  • January 15, 2019

    Group Owes SEC $6.6M In Woodbridge Securities Probe

    Three people and two companies owe the U.S. Securities and Exchange Commission more than $6.6 million after a Florida federal judge on Monday entered judgment against them for allegedly selling unregistered securities of Woodbridge Group of Companies LLC, which collapsed last year after the SEC charged it with running a $1.2 billion Ponzi scheme.

  • January 15, 2019

    Ex-Georgeson Adviser Guilty In Tix-For-Votes Scheme

    A Massachusetts federal jury convicted a former Georgeson LLC adviser on fraud and conspiracy charges Tuesday afternoon, delivering a win for prosecutors who claimed the adviser participated in a scheme to swap sports tickets for confidential shareholder voting data after their first bid to convict her ended in a mistrial.

  • January 15, 2019

    Ex-Barclays Bankers On Trial Again In Euribor Rigging Plot

    Prosecutors opened their second trial in London on Tuesday of three former Barclays PLC employees accused of participating in a conspiracy to rig global interest rates to rip off counterparties that did business with them.

  • January 15, 2019

    Ex-Bankrate Exec’s 5-Year Sentence For $25M Fraud Halved

    A former Bankrate Inc. executive’s five-year sentence for his role in a $25 million fraudulent accounting scheme was cut in half by a Florida federal judge on Monday after prosecutors pushed for a sentence reduction based on his extensive cooperation with the U.S. Department of Justice.

  • January 14, 2019

    Atty Central To Marijuana Penny Stock Fraud Plot, Gov't Says

    A Florida-based securities attorney was a central figure in a plot to defraud investors who bought penny stock in a company involved in hydroponic marijuana growing equipment, prosecutors told a Colorado federal jury Monday at the start of his trial.

  • January 14, 2019

    Ex-ConvergEx Exec's Deal Aids 3 Cooperators At Sentencing

    Three former traders who cooperated against a former ConvergEx Group LLC executive were largely sentenced to probation Monday after prosecutors and a judge said it would be unfair to hand them longer sentences than the person they cooperated against.

  • January 14, 2019

    Royal Park, Wells Fargo End RMBS Trustee Suit

    A New York federal judge on Monday granted a joint request from Royal Park Investments SA/NV and Wells Fargo Bank NA to dismiss with prejudice the remaining claims in the former’s litigation surrounding alleged failures by the latter as the trustee for two residential mortgage-backed securities trusts.

  • January 14, 2019

    NYSE Fines Wedbush, Founder $1M For Unsupervised Trades

    Wedbush Securities Inc. and co-founder Edward Wedbush will pay a combined $1 million to the regulatory arm of the New York Stock Exchange to end claims the company’s leader of 64 years worked the trading desk without oversight.

  • January 14, 2019

    Lender Says Life Settlement Co. Is Using Ch. 11 To Pay Parent

    The top secured lender to bankrupt life settlements venture White Eagle Asset Portfolio LP accused it of seeking to improperly pay the expenses of a non-debtor parent and urged a Delaware bankruptcy judge to reject a proposed cash management order for the case.

  • January 14, 2019

    UBS Takes Aim At Feds' Fraud Suit Over Crisis-Era RMBS

    UBS AG told a New York federal judge on Friday that the U.S. Department of Justice's lawsuit accusing it of defrauding investors through the sale of residential mortgage-backed securities leading up to the financial crisis should be dismissed, saying the case is based on an overly broad and legally unsupported interpretation of a financial institutions reform act.

  • January 14, 2019

    Shutdown Prompts Pause To Wells Fargo's $75M Bond Case

    A Rhode Island federal judge has put a suit filed by the U.S. Securities and Exchange Commission against Wells Fargo Co. over a $75 million bond offering involving a Major League Baseball pitcher’s video game company on hold during the federal government shutdown to give the agency time to look at a proposed settlement.

  • January 14, 2019

    Even Defense Attys Miss SEC During Record Gov't Shutdown

    With the government shutdown now the longest on record at 24 days, even the attorneys who defend clients against inquiries by the U.S. Securities and Exchange Commission are anxious for the agency to get back to work.

  • January 14, 2019

    Teva Tries To Nix Investors' 'Defective' Price-Hike Suit

    Teva Pharmaceutical Industries Ltd. and its executives doubled down on their efforts to toss securities claims from investors, who say the drugmaker engaged in a price-hike scheme and misled them about its resulting profit growth, arguing in Connecticut federal court Friday they presented no evidence.

  • January 14, 2019

    Cboe Investors Denied Names In VIX Manipulation MDL

    Chicago Board Options Exchange investors will have to weather Cboe Global Markets Inc.'s dismissal bid before trying to get the names of traders who allegedly manipulated the exchange's volatility index, or VIX, after an Illinois federal judge on Friday refused to grant an early discovery peek in the multidistrict litigation.

  • January 14, 2019

    Former SEC Senior Enforcement Atty Joins King & Spalding

    King & Spalding LLP has bolstered its special matters and government investigations team in Atlanta with the hiring of a 14-year veteran attorney from the U.S. Securities and Exchange Commission.

  • January 14, 2019

    Fitbit Mid-Case Appeal Rejected In Chancery Class Suit

    A Delaware vice chancellor on Monday rejected a Fitbit Inc. bid for state Supreme Court review of a decision that kept alive a $386 million stockholder insider trading and fiduciary breach lawsuit, saying there were reasons to go forward but none to justify early appeal.

  • January 14, 2019

    Jury Mulls Georgeson Adviser's Fate In Tix-For-Votes Swap

    The fate of a former Georgeson LLC adviser accused of being part of a plot to swap sports and concert tickets for confidential shareholder voting data was placed in a Massachusetts federal jury's hands Monday after a different panel was denied a chance to decide her guilt or innocence last year.

Expert Analysis

  • Q&A

    A Chat With Reed Smith Chief Marketing Officer Sadie Baron

    Sadie Baron

    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Sadie Baron, chief marketing officer at Reed Smith LLP.

  • When Civil Litigants Face Criminal Proceedings

    Paul Chan

    A civil defendant implicated in a criminal investigation faces a difficult choice: Defend the civil case and waive the Fifth Amendment right against self-incrimination, or invoke the privilege, but risk hobbling the defense of the civil case, say Paul Chan and Fanxi Wang of Bird Marella Boxer Wolpert Nessim Drooks Lincenberg & Rhow PC.

  • The Evolving Frontier Of Foreign Securities Litigation

    Joel Rothman

    Several recent developments — including a petition for certiorari filed with the U.S. Supreme Court in Toshiba v. Automotive Industries Pension Trust Fund — highlight why foreign securities litigation is an ever-changing scenario where nothing is definite, say Joel Rothman and Peter Saparoff of Mintz Levin Cohn Ferris Glovsky and Popeo PC.

  • 'Flexible Work' Makes Freelancing More Viable In BigLaw

    Elizabeth Black

    The rise of remote work capabilities and advances in technology are making flexible, freelance legal work a more accessible career option for corporate attorneys, say Elizabeth Black and Sara Eng of InCloudCounsel.

  • Opinion

    A Call To Permit Judicial Substitution In MDL Proceedings

    Doug Smith

    While several proposed changes to multidistrict litigation procedures may be warranted and appropriate, consideration should be given to a modest modification of the judicial selection process, says Doug Smith of Kirkland & Ellis LLP.

  • Guest Feature

    Judge Weinstein On Activism, Gobbledegook, Going Robeless

    Judge Jack Weinstein

    Judge Jack Weinstein has served in the Eastern District of New York for over half a century. White and Williams LLP attorney Randy Maniloff visited his Brooklyn office to find out what makes the 97-year-old jurist tick.

  • A Bridge Too Far: CFTC's 'Reckless' Manipulation Theory

    David Yeres

    The U.S. Commodity Futures Trading Commission has taken a highly questionable view of its authority to pursue price manipulation charges against traders whose bona fide open market trading recklessly distorts market prices, say attorneys at Clifford Chance US LLP.

  • What To Expect From Technology-Assisted Review In 2019

    Thomas Gricks

    2018 will be remembered as a transition year for technology-assisted review, and 2019 will likely see a continued focus on how we use TAR, with refinement and expansion across the board, says Thomas Gricks of Catalyst Repository Systems LLC.

  • 5 Hidden Lessons In Mayweather, Khaled ICO Actions: Part 2

    John Reed Stark

    If you're looking for new guidance from the U.S. Securities and Exchange Commission on crypto-financing and initial coin offerings, look no further than the recently settled DJ Khaled and Floyd Mayweather administrative enforcement actions. But you may need to read between the lines, says John Reed Stark of John Reed Stark Consulting LLC.

  • 2019 Will Bring More Good News For Litigation Finance

    Alan Guy

    Last year saw another round of year-over-year growth in litigation finance, as debates shifted from whether it should be permitted to how it can best be managed. The exciting news, says Alan Guy of Vannin Capital PCC, is that 2019 seems likely to bring more of the same.