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Results: 1-10 of 99

New year, New Orleans, old tricks

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • January 15 2015

The Department of Justice’s Kleptocracy Initiative is kicking off 2015 strong. On January 13, 2015, the DOJ filed a civil complaint seeking the

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

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

Tenth Circuit affirms high standard for scienter pleading in securities fraud cases against independent auditors

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

In Dronsejko v Grant Thornton, Nos 09-4222 and 10-4074, US App LEXIS 1052 (10th Cir. Jan. 20, 2011), the United States Court of Appeals for the Tenth Circuit affirmed a decision by the United States District Court for the District of Utah dismissing a securities fraud class action brought by investors in iMergent against its independent auditor, Grant Thornton

Clarity required: Iran sanctions convictions reversed in U.S. v. Banki

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • December 9 2011

Introduction: On October 24, 2011, a three-judge panel of the U.S. Court of Appeals for the Second Circuit released an opinion in United States v. Banki, No. 10-3381 (2d Cir. Oct. 24, 2011) that reversed convictions of Defendant Mahmoud Reza Banki on charges of conspiring to violate the Iranian Transaction Regulations (“ITR”) and aiding and abetting violations of the ITR

Arizona federal district court holds that Securities & Exchange Commission need not allege wrongdoing on the part of CEO when pursuing reimbursement under Section 304 of Sarbanes-Oxley Act

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • June 15 2010

In Securities & Exchange Commission v Jenkins, No CV-09-1510-PHX-GMS, 2010 WL 2347020 (D Ariz Jun 9, 2010), the United States District Court for the District of Arizona held that the responsibility of a CEO under Section 304 of the Sarbanes-Oxley Act of 2002 (the "Act") to reimburse an issuer for bonuses, incentive compensation and stock sale proceeds he or she received in the year prior to a restatement of the issuer's financial statements does not require a showing that CEO committed or even knew of misconduct that led to the restatement

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 dismissal of suits brought by Madoff trustee against banks accused of aiding Madoff fraud

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • July 2 2013

In In re Bernard L. Madoff Investment Securities LLC, Nos. 11-5044, 11-5051, 11-5175, 11-5207, 2013 WL 3064848 (2d Cir. June 20, 2013), the United

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

First Circuit reaffirms FCA’s “first-to-file” bar as a broad jurisdictional limit

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • January 22 2015

In early December 2014, the United States Court of Appeals for the First Circuit reaffirmed that circuit's broad interpretation of the False Claims