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Results: 1-10 of 485

New York's Martin Act does not preempt an investor's common law claims
  • Winston & Strawn LLP
  • USA
  • January 3 2012

On December 20th, New York's highest court held that the Martin Act, the state's blue sky law, does not preempt an investor's claims for breach of fiduciary duty and gross negligence


Another court questions a proposed settlement
  • Winston & Strawn LLP
  • USA
  • January 3 2012

On December 21st, Bloomberg reported a federal district court in Wisconsin has questioned the SEC's proposed accounting fraud settlement with Koss Corp


Although settlement is approved, attorney fee request is not
  • Winston & Strawn LLP
  • USA
  • January 3 2012

On December 28th, the Federal District Court approved the parties' proposed settlement of a class action securities fraud case


Securities fraud judgment affirmed
  • Winston & Strawn LLP
  • USA
  • April 9 2012

On April 4th, the Sixth Circuit affirmed a judgment in favor of an elderly man who invested over $14 million in oil and gas exploration wells


Oil trade groups bring case against SEC
  • Winston & Strawn LLP
  • USA
  • October 15 2012

In American Petroleum Institute v. U.S. Securities and Exchange Commission, two oil industry trade groups, backed by the U.S. Chamber of Commerce, are suing the SEC over Dodd-Frank provisions that require publicly traded companies to disclose any payments greater than $100,000 made to foreign governments for commercial projects


Portfolio manager's insider trading conviction is affirmed
  • Winston & Strawn LLP
  • USA
  • August 20 2012

On August 17th, the Second Circuit affirmed the conviction of Joseph Contorinis, a co-portfolio manager of the Jeffries Paragon Fund, on charges of insider trading and conspiracy to commit securities fraud


Dismissal of ARS case is affirmed
  • Winston & Strawn LLP
  • USA
  • August 20 2012

On August 14th, the Second Circuit Court of Appeals affirmed the dismissal of plaintiff's federal and state claims of market manipulation based upon the practice of placing "support bids" in the Auction Rate Securities ("ARS") market and claims of negligent misrepresentation based upon the credit ratings assigned to the ARS at issue


Pragmatism overrides strict interpretations
  • Winston & Strawn LLP
  • USA
  • August 20 2012

On August 13th, the Second Circuit vacated and remanded the district court's order denying a motion to certify a settlement class


SEC admonished for lax fair funds oversight
  • Winston & Strawn LLP
  • USA
  • August 27 2012

On August 21st, the U.S. District Court for the Southern District of New York reluctantly approved Garden City Group's ("GCG") application for fees and expenses as the claims administrator for a $25 million SEC Fair Fund. In doing so, the Court admonished the SEC for its lax oversight of GCG


Federal court applies Dodd-Frank and Sarbanes-Oxley Act whistleblower protection to employee's complaints about qualified pension plan
  • Winston & Strawn LLP
  • USA
  • October 22 2012

In Kramer v. Trans-Lux Corp., No. 3:11-cv-01424-SRU, 2012 WL 4444820 (D. Conn. Sept. 25, 2012), Kramer sued his former employer for retaliatory discharge under the Sarbanes-Oxley and Dodd-Frank Acts, alleging that his repeated complaints to his supervisor, the CFO, and the board audit committee, followed by complaints to the SEC and PBGC about the actions of his fellow pension committee member and sole trustee of the pension plan, led to his termination of employment