Locke Lord LLP | USA | 20 Oct 2010
The U.S. District Court in Manhattan recently dismissed a securities class action brought by a proposed class of investors, alleging that the company and two of its senior officers violated Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) and SEC Rule 10b-5 by making false or materially misleading disclosures about the company’s risk management and exposure to......
Locke Lord LLP | USA | 29 Sep 2010
On September 29, the Washington Post and New York Times reported that the United States Treasury Department's Financial Crimes Enforcement Network ("FinCEN") issued a proposal this week that would require US banks to report all electronic money transfers into and out of the United States.
Locke Lord LLP | USA | 27 Apr 2010
The Second Circuit recently overturned the Southern District of New York’s dismissal of a claim under § 10(b) Securities Exchange Act of 1934 relating to management fees charged to a mutual fund in Operating Local 649 Annuity Trust Fund v. Smith Barney Fund Management LLC.
Locke Lord LLP | USA | 29 Mar 2010
Late last year, the United States District Court for the District of New Jersey dismissed a securities fraud litigation that had been brought against a payment card processor in connection with the theft, by cybercriminals, of credit and debit card information from the company's computer system.
Locke Lord LLP | USA | 6 Jan 2010
On December 7, 2009, the SEC charged three former executives of New Century Financial Corporation with securities fraud.