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Hedge fund closes two of its funds and liquidates holdings
- Edwards Wildman Palmer LLP
- -
- USA
- -
- September 3 2009
According to press reports, Atticus Capital announced recently that it would shut down two of its three funds and liquidate their $3 billion in holdings
Mark Cuban demands that the SEC pay his legal fees
- Edwards Wildman Palmer LLP
- -
- USA
- -
- September 4 2009
On November 17, 2008, the Securities and Exchange Commission charged Dallas Mavericks' owner, Mark Cuban, with insider trading
The Eleventh Circuit finds subject matter jurisdiction over “F-Cubed” plaintiffs
- Edwards Wildman Palmer LLP
- -
- USA
- -
- September 4 2009
The Eleventh Circuit Court of Appeals has found that the district court has subject matter jurisdiction over securities claims brought by “F-Cubed” plaintiffs i.e., a foreign investors who purchased shares in a foreign company on a foreign stock exchange
Financial regulatory reform outlook
- Edwards Wildman Palmer LLP
- -
- USA
- -
- October 1 2009
Though currently shadowed by healthcare reform efforts that have dominated the congressional schedule this fall, the push to enact a financial regulatory overhaul has been making steady progress in Congress
Court approves American Home Mortgage's settlement of a subprime securities class action
- Edwards Wildman Palmer LLP
- -
- USA
- -
- September 18 2009
On July 30, 2009, the US District Court for the Eastern District of New York approved a $37.25 million settlement of a subprime-related securities class action styled, In re American Home Mortgage Securities Litigation
Court gives preliminary approval to Merrill Lynch's settlement of a subprime-related securities class action
- Edwards Wildman Palmer LLP
- -
- USA
- -
- September 17 2009
As previously reported on August 8, 2007, a jury convicted ex-Brocade CEO Greg Reyes for violating federal securities laws by failing to properly account for backdated options
Court gives preliminary approval to Merrill Lynch's settlement of a subprime-related securities class action
- Edwards Wildman Palmer LLP
- -
- USA
- -
- September 18 2009
On August 24, 2009, the US District Court for the Southern District of New York preliminarily approved a $150 million settlement of a subprime-related securities class action pending against Merrill Lynch and several of its directors and officers styled, Louisiana Sheriff's Pension and Relief Fund v. Conway et al
Court gives preliminary approval to RAIT's settlement of a subprime related securities class action
- Edwards Wildman Palmer LLP
- -
- USA
- -
- September 18 2009
On July 15, 2009, the US District Court for the Eastern District of Pennsylvania preliminarily approved a $32 million settlement of a subprime related securities class action against RAIT Financial Trust, RAIT's directors and officers, Grant Thornton, and Piper Jaffray
SEC Task Force to investigate life settlements
- Edwards Wildman Palmer LLP
- -
- USA
- -
- September 21 2009
According to industry reports, the US Securities and Exchange Commission has formed a multidisciplinary task force (“Task Force”) to investigate life settlements (i.e. the sale of life insurance products by policyholders to third-party investors
Second Circuit upholds dismissal for advisor who recommended Bayou Group hedge fund
- Edwards Wildman Palmer LLP
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- USA
- -
- July 21 2009
In a highly anticipated decision, the United States Court of Appeals for the Second Circuit affirmed last week that investment advisor Hennessee Group LLC could not be liable on the claims asserted by one of its clients for recommending that the client invest in a hedge fund that turned out to be nothing more than a Ponzi scheme perpetrated by Bayou Group LLC
