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Results: 1-10 of 5,287

SEC claims couple hijacked a charity

  • Dorsey & Whitney LLP
  • -
  • USA
  • -
  • February 4 2013

The SEC has brought a stream of Ponzi scheme cases in recent months in which little has been left for investors. SEC v. We the People, Inc. (S.D. Fla

Business roundtable files an amicus brief in the Citigroup litigation, asking the Second Circuit to reverse Judge Rakoff

  • Porter Wright Morris & Arthur LLP
  • -
  • USA
  • -
  • January 13 2012

On Thursday, January 12, 2012, Business Roundtable ("BRT"), the association of chief executive officers of leading U.S. companies, requested leave to file an Amicus Brief in the SEC v. Citigroup Global Markets, Inc. appeal, requesting that the Second Circuit reject the "potentially dangerous, approach to reviewing settlement agreements" in Judge Jed Rakoff's November 28, 2011 decision in the lower court

Federal district courts may issue anti-litigation orders in SEC receivership matters

  • Winston & Strawn LLP
  • -
  • USA
  • -
  • June 21 2010

On June 15th, the Second Circuit held that district courts may issue anti-litigation injunctions barring bankruptcy filings as part of their broad equitable powers in the context of an SEC receivership

Securities fraud claims against CommScope dismissed

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • August 16 2013

The US District Court for the Western District of North Carolina dismissed a shareholder securities fraud claim against CommScope, Inc. and its

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

Payments received by brokerages used in a fraudulent scheme cannot be avoided

  • Winston & Strawn LLP
  • -
  • USA
  • -
  • September 20 2010

On September 14th, a Bankruptcy Court entered partial summary judgment in favor of defendants, brokerages through whom the debtor conducted a fraudulent stock lending scheme

SEC ordered to produce Brady and Giglio materials due to joint investigation with U.S. Attorney’s office

  • Jenner & Block
  • -
  • USA
  • -
  • February 28 2014

A district court ordered the SEC to produce material solely in its possession to a defendant in a parallel criminal prosecution by the U.S. Attorney

Ninth Circuit: CAFA does not override anti-removal provision of Securities Act of 1933 in subprime class action

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • July 25 2008

The Ninth Circuit federal court of appeals recently held that the Class Action Fairness Act of 2005 (CAFA), which permits in general the removal to federal court of high-dollar class actions involving diverse parties, does not supersede section 22(a)’s specific bar against removal of cases arising under the Securities Act of 1933 (’33 Act

Second Circuit dismisses Section 10(b) claims against outside auditors of funds that invested with Madoff

  • Latham & Watkins LLP
  • -
  • USA
  • -
  • August 8 2012

On July 10, 2012, the US Court of Appeals for the Second Circuit in Meridian Horizon Fund, LP v. KPMG (Canyon) affirmed the dismissal of claims under Section 10(b) of the Securities Exchange Act and Rule 10b-5 against the outside auditors of hedge funds that invested in Bernard L. Madoff Investment Securities, LLC

Supreme Court rules on application of the U.S. securities laws to foreign transactions

  • Foley & Lardner LLP
  • -
  • USA
  • -
  • July 6 2010

In a June 24, 2010 decision (Morrison v Australia National Bank Ltd, US No 08-1191, 62410), the Supreme Court affirmed the dismissal of a would-be class securities fraud charge by foreign investors against an Australian bank who offered its shares on non-U.S. trading exchanges