SEC targets another fund board in recent enforcement case *

USA - May 23 2013
The U.S. Securities and Exchange Commission ("SEC") recently issued an Order Instituting Proceedings ("Order") against the administrator and…

Co-authors: Emily E. Shea , Stephanie A. Capistron , Christopher P. Harvey.

Court holds a Wells Notice does not trigger an automatic disclosure obligation for public companies *

USA - July 9 2012
United States District Judge Paul Crotty, sitting in the Southern District of New York, has issued a ruling holding that a public company did not have a duty, upon which a federal securities fraud claim could be based, to disclose the receipt of a Wells Notice from the Securities and Exchange Commission (SEC or Commission).

Co-authors: Emily E. Shea , Dennis Lawson , Thomas J. Friedmann .

Court challenges SEC’s policy of allowing settling parties to “neither admit nor deny” agency allegations *

USA - December 12 2011
The long-standing policy of the Securities and Exchange Commission (“SEC”) to settle cases by allowing a party to neither admit nor deny the agency’s allegations has been challenged by United States District Court Judge Jed S. Rakoff, sitting in the Southern District of New York.

Co-authors: Dennis Lawson , Michael L. Sherman.