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Results: 1-10 of 89

U.S. Supreme Court decision gives more latitude to defeat securities fraud class action lawsuits prior to class certification

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • June 25 2014

In Halliburton Co. v. Erica P. John Fund, Inc., No. 13-317, __ S Ct. __, 2014 WL 2807181 (U.S. June 23, 2014), the United States Supreme Court

Canada's first foreign bribery conviction shows trend in increased enforcement

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • Canada
  • -
  • September 24 2013

On August 15, 2013, the Ontario Superior Court found Canadian national Nazir Karigar guilty of conspiring to offer a bribe to Indian government

Sarbanes-Oxley whistleblower protections cover employees of a public company’s private contractors

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • March 25 2014

On March 4, 2014, the United States Supreme Court, in a 6-3 decision, expanded the protections offered to whistleblowers under anti-fraud laws, in

In re TOUSA: District Court reverses bankruptcy court's order requiring lenders to disgorge $480 million as fraudulent transfer

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • April 5 2011

On February 11, 2011, the Hon Alan Gold of the United States District Court for the Southern District of Florida issued a 113 page opinion and order quashing the bankruptcy court's order requiring the lenders involved in TOUSA, Inc.'s Transeastern joint venture to disgorge, as fraudulent transfers under Section 548 of the Bankruptcy Code, settlement monies that they had received on July 31, 2007 in repayment of their existing debt and to pay prejudgment interest on such monies, for a total disgorgement in excess of $480 million

Eleventh Circuit reverses in part securities fraud judgment against clearing broker in an action brought by the SEC

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • June 18 2012

In Securities & Exchange Commission v. Goble, 2012 WL 1918819 (11th Cir. May 29, 2012), the United States Court of Appeals for the Eleventh Circuit held that the recording of a sham transaction in the corporate books did not constitute “securities fraud” in violation of Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”), 15 U.S.C. 78j(b), and Securities & Exchange Commission (“SEC”) Rule 10b-5, 17 C.F.R. 240.10b-5, because “a misrepresentation that would only influence an individual’s choice of broker-dealers cannot form the basis for 10(b) securities fraud liability.”

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

Dodd-Frank whistleblower protection: for America only

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • November 13 2013

The U.S. District Court for the Southern District of New York has held that the whistleblower protection provisions of the Dodd-Frank Act do not

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

Aggressive FCPA enforcement persists: increased activity, along with recent legal developments, mandate that companies remain vigilant

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • February 2 2012

Enforcement of the U.S. Foreign Corrupt Practices Act continues to increase dramatically

Ninth Circuit allows SEC to proceed against director for insider trading even where director owed no fiduciary duty to company whose stock he traded

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • July 8 2008

In SEC v. Talbot, 2008 WL 2574513 (9th Cir. June 30, 2008), the United States Court of Appeals for the Ninth Circuit held that a board member could be liable for insider trading under the “misappropriation theory” where the board member owed no fiduciary duty to the company whose stock he traded