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Results: 1-10 of 196

What is a “Personal Benefit” for Insider Trading Tippee Liability?
  • Sheppard Mullin Richter & Hampton LLP
  • USA
  • March 9 2016

On February 29, 2016, in Securities and Exchange Commission v. Payton et al, a jury found two stockbrokers liable for trading on confidential tips


Second Circuit holds that federal common law prohibits trading by insiders of a Cayman Islands corporation while in possession of material nonpublic information
  • Sheppard Mullin Richter & Hampton LLP
  • Cayman Islands, USA
  • February 4 2014

In Steginsky v. Xcelera Inc., Nos. 13-1327-cv, 13-1892-cv, 2014 WL 274419 (2d Cir. Jan. 27, 2014), the United States Court of Appeals for the Second


Second Circuit reverses order disqualifying defense counsel in suit over demutualization of insurance company
  • Sheppard Mullin Richter & Hampton LLP
  • USA
  • October 13 2009

In Murray v. Metropolitan Life Ins. Co., No. 09-3716-CV, 2009 WL 3080462 (2d Cir. Sept. 29, 2009), the United States Court of Appeals for the Second Circuit reversed an order by the district court disqualifying defense counsel for a life insurance company in an action alleging fraud in connection with the demutualization of defendant life insurance company


Fraud claim against syndicated lender allowed to proceed, despite express disclaimer of reliance in deal documents
  • Sheppard Mullin Richter & Hampton LLP
  • USA
  • June 25 2010

On May 10, 2010, Justice Barbara R Kapnick permitted a fraud claim to proceed against a syndicated lender despite the fact that the plaintiffs were sophisticated parties and the loan documents contained express disclaimers of reliance


Cherry-picking & soft dollars
  • Sheppard Mullin Richter & Hampton LLP
  • USA
  • August 14 2014

In a decision issued on August 5, 2014 in an administrative proceeding (the "Decision"), J.S. Oliver Capital Management, L.P. And Ian O. Mausner were


SCOTUS: no unlimited suspension of the statute of limitations under the False Claims Act; “first-to-file” doctrine does not bar related suits in perpetuity
  • Sheppard Mullin Richter & Hampton LLP
  • USA
  • May 27 2015

In an opinion released May 26, 2015, Kellogg Brown & Roots Services, Inc. v. United States ex rel. Carter, the U.S. Supreme Court unanimously held


U.S. Supreme Court decision gives more latitude to defeat securities fraud class action lawsuits prior to class certification
  • Sheppard Mullin Richter & Hampton LLP
  • USA
  • June 25 2014

In Halliburton Co. v. Erica P. John Fund, Inc., No. 13-317, __ S Ct. __, 2014 WL 2807181 (U.S. June 23, 2014), the United States Supreme Court


Second Circuit holds that "interpositioning" transactions do not constitute deceptive acts to support criminal securities fraud liability
  • Sheppard Mullin Richter & Hampton LLP
  • USA
  • August 5 2008

In United States v. Finnerty, 2008 U.S. App. LEXIS 15296 (2d Cir. July 18, 2008), the United States Court of Appeals for the Second Circuit set aside a guilty verdict imposing securities fraud liability against a New York Stock Exchange Specialist who engaged in “interpositioning” and “trading ahead” transactions, on the ground that the prosecution failed to prove that the defendant’s conduct constituted deceptive conduct under the federal securities laws


Siemens whistleblower complaint underscores need for "top-down" anti-corruption compliance
  • Sheppard Mullin Richter & Hampton LLP
  • USA
  • January 28 2013

In 2008, Siemens AG paid $800 million to settle charges that it had violated the Foreign Corrupt Practices Act, which generally prohibits bribery of


Tenth Circuit holds corporate shareholders do not have standing under RICO to sue derivatively for alleged injuries to corporation
  • Sheppard Mullin Richter & Hampton LLP
  • USA
  • March 8 2010

In Bixler v. Foster, No. 09-2138, 2010 WL 597477 (10th Cir. Feb. 22, 2010), the United States Court of Appeals for the Tenth Circuit affirmed the dismissal of a class action lawsuit brought by minority shareholders of Mineral Energy and Technology Corporation (“METCO”) against its directors and lawyers