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Results: 1-10 of 256

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

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

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

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

District court dismisses securities fraud claim against company’s auditor

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • November 16 2007

Granting defendant auditor’s motion to dismiss plaintiffs’ class action securities fraud claims, a federal district court held, among other things, that defendant could not be found liable under section 10(b) of the Securities Exchange Act of 1934 or Rule 10b-5 for statements that the auditor’s client but not the auditor made to the public

Court compels broker-dealer to arbitrate investors’ claims

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • November 16 2007

Finding that investors were “customers” of a retail broker-dealer for purposes of the NASD’s Code of Arbitration, a federal district court compelled the broker-dealer to arbitrate the investors’ securities fraud claims

Market manipulation may be proved by manipulative intent

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • December 7 2007

A New York District Court has denied a defendant’s motion for summary judgment and held that a showing of an investor’s intent to manipulate the market in violation of Section 10(b) of the Securities Exchange Act of 1934 could be enough to prove market manipulation without any additional deceptive or fraudulent conduct

Establishing common issues of loss causation not required to certify class

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • January 4 2008

Granting plaintiffs’ motion for class certification in a securities fraud action, a federal district court held, among other things, that for purposes of their motion plaintiffs did not have to demonstrate common issues of loss causation