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Results: 1-10 of 95

Longest prison sentence yet in FCPA case

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • November 16 2011

On October 26, 2011, Joel Esquenazi was sentenced to 15 years in prison for committing and conspiring to commit both money laundering and violations of the Foreign Corrupt Practices Act (“FCPA”

Arab Bank found liable for transactions under the Anti-Terrorism Act

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • October 9 2014

On September 22, 2014, a Brooklyn jury found Arab Bank, Jordan's largest lender, guilty of violating the U.S. Anti-Terrorism Act for providing

Second Circuit limits “tippee” insider trading liability

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • December 11 2014

In United States v. Newman, No. 13-1837 (2d Cir. Dec. 10, 2014), the United States Court of Appeals for the Second Circuit reversed the 2013

Second Circuit holds that federal common law prohibits trading by insiders of a Cayman Islands corporation while in possession of material nonpublic information

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • Cayman Islands, USA
  • -
  • February 4 2014

In Steginsky v. Xcelera Inc., Nos. 13-1327-cv, 13-1892-cv, 2014 WL 274419 (2d Cir. Jan. 27, 2014), the United States Court of Appeals for the Second

Second Circuit affirms conviction for unlicensed money transmitting based on Chilean company's use of U.S. bank accounts

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • October 6 2010

On September 22, 2010, the Court of Appeals for the Second Circuit affirmed the conviction and 42-month sentence of Mauricio Alfonso Mazza-Alaluf ("Mazza-Alaluf"), a Chilean national, for conspiring to operate and actually operating an unlicensed money transmitting business based upon his company's use of bank accounts in the United States

Do your diligence - commercial division finds that sophisticated parties may not justifiably rely on alleged misrepresentations when information is readily accessible

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • October 16 2012

In Karfunkel v. Sassower, No. 6022442009 (N.Y. Sup. Ct. Sept. 12, 2012), Judge Peter O. Sherwood granted a motion for summary judgment dismissing plaintiff’s claim of civil fraud for lack of both scienter and justifiable reliance, holding that sophisticated parties may not justifiably rely on alleged fraudulent misrepresentations when accurate information is readily accessible

Fifth Circuit rejects Section 10(b) scheme liability in absence of explicit attribution of conduct or statements to defendant

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • November 17 2010

In Affco Investments 2001 LLC v Proskauer Rose L.L.P., No. 09-20734, 2010 WL 4226685 (5th Cir. Oct. 27, 2010), the United States Court of Appeals for the Fifth Circuit held that a law firm which allegedly assisted in developing a fraudulent tax shelter scheme could not be held liable under Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. 78j(b), and Rule 10b-5, 17 C.F.R. 240.10b-5, for conduct and statements not explicitly attributed to it

Line in the sand: Siemens Argentina case limits personal jurisdiction under the FCPA

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • Argentina, USA
  • -
  • March 8 2013

A New York federal district court judge has dismissed a Foreign Corrupt Practices Act ("FCPA") claim against a former executive of Siemens, S.A

FCPA and anti-corruption enforcement update: April - September 2012

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • October 24 2012

We regularly report on Foreign Corrupt Practices Act ("FCPA") developments and have furnished subscribers with a primer on the FCPA

New York's high court rejects attempts to expand liability of outside professional service providers for failing to detect corporate fraud

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • October 27 2010

In Kirschner v. KPMG LLP, 2010 NY Slip Op. 07415, 2010 WL 4116609 (N.Y. Oct. 21, 2010), a majority of the New York Court of Appeals declined to expand liability of outside professional service providers who allegedly failed to detect or stop corporate wrongdoing