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Results: 1-10 of 278

SEC adequately pleads aiding and abetting violations against officer of a vendor that sold goods to a primary violator

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • October 10 2008

A federal district court in Washington, D.C. has held that the Securities and Exchange Commission adequately pled that the owner of a company that sold certain products to a corporate subsidiary aided and abetted the subsidiary’s violations of the Securities Exchange Act of 1934 by signing and returning audit confirmation letters that he knew, or was reckless in not knowing, were materially false by understating promotional allowances

In rare instance, court grants plaintiff’s summary judgment motion on fraud claim

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • October 10 2008

A federal district court adopted a U.S. magistrate judge’s recommendation to grant the Securities and Exchange Commission’s motion for summary judgment and to enter an order for a permanent injunction and disgorgement with prejudgment interest against a registered investment adviser as well as its president and 50 owner

FinCEN withdraws dated anti-money laundering rule proposals

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • October 31 2008

On October 30, the Financial Crimes Enforcement Network (FinCEN) withdrew its proposed anti-money laundering rules for investment advisers, unregistered investment companies and commodity trading advisers

Fugitive not entitled to litigate by mail

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • October 31 2008

The Eastern District of New York denied a motion to dismiss claims asserted against an individual defendant charged with multiple counts of wire fraud and securities fraud arising from his alleged involvement in a scheme to manipulate the stock price of small public companies through fraudulent faxes and press releases

Sale of stock in restaurant did not support federal securities fraud claims

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • November 14 2008

Plaintiffs, the purchasers of all the shares of stock in Chef Vincent, Inc., a corporation created to own, operate and manage Chef Vincent, a restaurant located in Miami, Florida, asserted claims against the defendant-seller under Section 10(b) of the Securities Exchange Act of 1934 (the 1934 Act) and Rule 10(b)-5

FinCEN withdraws AML proposal

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • November 7 2008

The U.S. Treasury Department’s Financial Crimes Enforcement Network has withdrawn its proposed rules that would have required the adoption by investment advisers, commodity trading advisors and certain unregistered investment companies of anti-money laundering programs similar to those required of banks, broker-dealers, mutual funds and other industry participants

Eleventh Circuit rules that hedge fund investors’ claims are not derivative

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • November 21 2008

The Eleventh Circuit recently reversed in part and upheld in part a ruling by the United States District Court for the Southern District of Florida dismissing a complaint brought by investors in a hedge fund and a corporation

NYSE Arca proposes options rule amendments regarding anti-money laundering compliance programs

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • November 21 2008

On October 28, NYSE Arca, Inc. filed proposed rule changes with the Securities and Exchange Commission to amend NYSE Arca Options Rule 11.19, which addresses anti-money laundering compliance programs (AMLCPs

NYSE proposes changes to streamline odd-lot order handling guidance

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • December 5 2008

On November 6, New York Stock Exchange LLC (NYSE) filed a proposal with the Securities and Exchange Commission to update NYSE Rule 411(b) concerning odd-lot order handling requirements, particularly by adding a new subparagraph to explicitly address fraudulent or manipulative conduct, such as wash sales

Court dismisses portion of securities fraud claims

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • December 5 2008

In a securities fraud class action brought against a publicly traded company and its officers, directors and major shareholders, a federal district court granted in part defendants' motion to dismiss claims asserted under Section 10(b) of the Securities and Exchange Act and Rule 10b-5