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Results: 1-10 of 90

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”

Second Circuit reverses order disqualifying defense counsel in suit over demutualization of insurance company

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • October 13 2009

In Murray v. Metropolitan Life Ins. Co., No. 09-3716-CV, 2009 WL 3080462 (2d Cir. Sept. 29, 2009), the United States Court of Appeals for the Second Circuit reversed an order by the district court disqualifying defense counsel for a life insurance company in an action alleging fraud in connection with the demutualization of defendant life insurance company

Siemens whistleblower complaint underscores need for "top-down" anti-corruption compliance

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • January 28 2013

In 2008, Siemens AG paid $800 million to settle charges that it had violated the Foreign Corrupt Practices Act, which generally prohibits bribery of

Cherry-picking & soft dollars

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • August 14 2014

In a decision issued on August 5, 2014 in an administrative proceeding (the "Decision"), J.S. Oliver Capital Management, L.P. And Ian O. Mausner were

Ninth Circuit reverses dismissal of securities fraud complaint on loss causation grounds despite three-month delay between corrective disclosure and market reaction

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • September 22 2008

In In re Gilead Sciences Securities Litigation, 536 F.3d 1049 (9th Cir. 2008), a three-judge panel of the United States Court of Appeals for the Ninth Circuit reversed the dismissal of a securities fraud complaint that the district court had held failed to plead loss causation due to the passage of time between the disclosure of the alleged fraud and the drop in the company’s stock price

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

Fraud claim against syndicated lender allowed to proceed, despite express disclaimer of reliance in deal documents

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • June 25 2010

On May 10, 2010, Justice Barbara R Kapnick permitted a fraud claim to proceed against a syndicated lender despite the fact that the plaintiffs were sophisticated parties and the loan documents contained express disclaimers of reliance

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

Ninth Circuit reverses dismissal of securities fraud class action where complaint was "loaded with specific allegations" to support a strong inference of scienter

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • May 2 2011

In New Mexico State Investment Council v. Ernst & Young LLP, 2011 WL 1419642 (9th Cir. Apr. 14, 2011), the United States Court of Appeals for the Ninth Circuit reversed the dismissal of securities fraud claims against an independent accountant, holding that the complaint pleaded particularized facts giving rise to a strong inference that the auditor acted with scienter when it certified the financial statements of its client, Broadcom Corporation (“Broadcom”

Second Circuit holds that allegations of direct fraudulent representations are necessary for market manipulation claims under Section 10(b) and Rule 10b-5

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • May 24 2013

In Fezzani v. Bear, Stearns & Co., Inc., No. 09-4414-cv, 2013 WL 1876534 (2d Cir. May 7, 2013), a 2-1 majority of a panel of the United States Court