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Results: 1-10 of 28

The Supreme Court holds that the “discovery rule” does not apply to SEC enforcement actions for financial penalties and affirms the dismissal of SEC claims as time-barred
  • Foley Hoag LLP
  • USA
  • March 7 2013

In Gabelli v. SEC, No. 11-1274 (Feb. 27, 2013), a unanimous Supreme Court issued a much anticipated decision on the statute of limitations for civil


Increased risk of FCPA prosecution of foreign national executives of U.S. issuers: recent court decision allows open-ended statute of limitations and bases FCPA jurisdiction on email routed through US servers
  • Foley Hoag LLP
  • USA
  • February 19 2013

A recent federal court decision highlights the increasing risk of prosecution for foreign national executives under the Foreign Corrupt Practices Act


Reading tea leaves after the Supreme Court’s Amgen securities litigation decision
  • Foley Hoag LLP
  • USA
  • March 6 2013

On February 27, 2013, the Supreme Court issued its ruling in Amgen Inc. v. Connecticut Retirement Plans and Trust Fund. In the decision, the Court


Heightened pleading standards in securities fraud class actions
  • Foley Hoag LLP
  • USA
  • April 11 2012

The First Circuit Court of Appeals and the District Court of Massachusetts have recently issued opinions in securities fraud class actions that were favorable to the issuer-defendants


DOJ’s recent trend of prosecuting individuals for FCPA violations continues with longer prison sentences and increased fines
  • Foley Hoag LLP
  • USA
  • November 30 2011

The longest prison term ever imposed in a Foreign Corrupt Practices Act (“FCPA”) case -- fifteen years -- was recently given to Joel Esquenazi, former president of Terra Telecommunications Corporation, after a jury convicted him under the FCPA for bribes paid to officials at Haiti Teleco, a state-owned telecommunications agency


Second Circuit reverses convictions in data-theft prosecution and narrowly interprets federal criminal statutes with important intellectual property implications
  • Foley Hoag LLP
  • USA
  • April 21 2012

In February 2012, following oral argument, the U.S. Court of Appeals for the Second Circuit issued a brief order reversing Sergey Aleynikov’s convictions for violating the National Stolen Property Act, 18 U.S.C. 2314 (“NSPA”), and the Economic Espionage Act, 18 U.S.C. 1832(b) (“EEA”), and stating a longer opinion would follow


Goldman Sachs programmer arrested for transfer of top secret source code for Goldman's automated trading system
  • Foley Hoag LLP
  • USA
  • July 9 2009

On July 3, 2009, FBI arrested Sergey Aleynikov, a Goldman Sachs programmer, as he disembarked at Newark airport on charges that he violated the Electronic Espionage Act (18 U.S.C. sec. 1832) when he sent company data to an overseas document server


Justice Department seeks increased funding for fraud prevention and enforcement; financial, mortgage and healthcare fraud remain key priorities in FY 2011 budget
  • Foley Hoag LLP
  • USA
  • February 5 2010

Earlier this week, Attorney General Eric Holder announced that the President’s FY 2011 budget request includes a staggering $29.2B for the Justice Department, an increase over the actual FY 2010 budget appropriation of $1.5B in funding and 2,880 positions



Hedge funds join “the CEO’s brother-in-law” as the target of insider trading cases
  • Foley Hoag LLP
  • USA
  • November 9 2009

Insider trading cases often have focused on "the CEO’s brother-in-law" or similarly situated individuals who used a tidbit passed along at Thanksgiving dinner to make a quick and easy personal profit