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Results: 1-10 of 110

SLUSA precludes investor’s state law claims, Riley v. Merrill Lynch “no longer good law”

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • October 30 2008

The U.S. Court of Appeals for the Eleventh Circuit, in one of its most detailed discussions of the Securities Litigation Uniform Standards Act of 1998 (SLUSA) to date, has affirmed the dismissal of an investor’s state law claims and its federal securities fraud claim against Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill Lynch”

Florida district court dismisses federal securities complaint, ruling allegations inadequate to establish primary liability against securities firms

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • December 12 2007

The United States District Court for the Southern District of Florida last week dismissed with prejudice a federal securities class action complaint against Merrill Lynch & Co., Inc., (“Merrill Lynch”) and other investment banks due to the plaintiffs’ failure to plead adequately any element of securities fraud

Adviser charged with fraud in connection with insured investment scheme

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • December 27 2007

The SEC brought an administrative action against National Investment Advisors, Inc. (NIA) and its principal, Douglas A. Jimerson

Former Morgan Stanley financial advisors sued by SEC for illicit market-timing scheme

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • December 18 2007

The SEC brought a suit against two former Morgan Stanley DW, Inc. (MSDW) financial advisors, Darryl A. Goldstein and Christopher O'Donnell, for allegedly engaging in a fraudulent market timing scheme

U.S. Supreme Court limits secondary actors’ liability for securities fraud under Section 10(b) and Rule 10b-5

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • January 16 2008

As widely reported, on January 15, 2008, the U.S. Supreme Court decided Stoneridge Investment Partners LLC v. Scientific-Atlanta, Inc., No. 06-43

Market timing charges brought against adviser (IA & MF)

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • January 25 2008

The SEC brought an administrative action against Chronos Asset Management, Inc. and Mitchell L. Dong

Hedge funds enjoined for making misrepresentations to investors

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • January 25 2008

The SEC filed an injunction against Coadum Advisors, Inc., Mansell Capital Partners III, LLC, James A. Jeffery, Thomas E. Repke, Coadum Capital Fund 1, LLC, Coadum Capital Fund II, LP, Coadum Capital Fund III, LP and Mansell Acquisition Company LP alleging that the persons and entities engaged in fraud in conjunction with a series of four securities offerings which began in early 2006

FERC fraud investigation results in two show cause orders, four settlements

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • January 16 2009

The Federal Energy Regulatory Commission (FERC) yesterday issued two orders to show cause and approved four stipulation and consent agreements resolving investigations into alleged fraudulent conduct in open season bidding for natural gas transportation capacity

Fourth Circuit: when United States declines to intervene in False Claims Act qui tam action, relator’s claims are subject to strict six-year statute of limitations

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • January 12 2009

The U.S. Court of Appeals for the Fourth Circuit, addressing an issue of first impression within the circuit, recently held that when the United States declines to intervene in a qui tam action brought by a private party (i.e., a relator) under the False Claims Act (FCA), the relator’s False Claims Act claims are subject to a six-year statute of limitations

SEC proposes a rule that would make naked short-selling a fraudulent activity

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • March 17 2008

The SEC has proposed an anti-fraud rule, Rule 10b-21 under the Securities Exchange Act of 1934, aimed at short sellers, including broker-dealers acting for their own accounts, who deceive specified persons, such as a broker or dealer, about their intention or ability to deliver securities in time for settlement and that fail to deliver securities by settlement date