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Results: 1-10 of 28

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


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


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


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


Foreign Corrupt Practices Act guidance released
  • Foley Hoag LLP
  • USA
  • November 15 2012

The US Department of Justice released its long-awaited guidance regarding the Foreign Corrupt Practices Act (“FCPA”) consisting of a 120-page Resource Guide to the U.S. Foreign Corrupt Practices Act along with a two-page “Fact Sheet”


Supreme Court provides guidance on Section 16(b) statute of limitations
  • Foley Hoag LLP
  • USA
  • April 13 2012

In Credit Suisse Securities LLC v. Simmonds, the Supreme Court recently addressed the timeliness of claims brought against corporate insiders to recover short-swing profits under Section 16(b) of the Securities Exchange Act of 1934


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


Federal judge reconsiders securities claims against GE and identifies three categories of statements that are not actionable under federal securities laws
  • Foley Hoag LLP
  • USA
  • May 16 2012

In a consolidated class action in the Manhattan federal court, General Electric and more than 40 other defendants, including CEO Jeffrey Immelt, CFO Keith Sherin, other officers, directors and various underwriters are accused of violating the Securities Act of 1933 and the Exchange Act of 1934 by making false and misleading statements about GE’s business such as its ability to sell commercial paper and the value of its loan portfolio during the recent financial crisis and, specifically, in offering documents for GE’s secondary public offering in October 2008


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


FTC delays enforcement of Red Flags Rule through December 31, 2010 to give Congress time to exempt certain businesses from rule’s requirements
  • Foley Hoag LLP
  • USA
  • May 28 2010

This morning, Friday, May 28, 2010, the Federal Trade Commission (FTC) announced that it was extending the deadline for enforcement of the Red Flags Rule through December 31, 2010, in order to give Congress sufficient time to amend the law to exclude certain businesses from application of the Rule