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Ex-SEC Employee Pleads Guilty to Lying About Trading Securities
  • Katten Muchin Rosenman LLP
  • USA
  • May 14 2017

On May 9, David Humphrey, a former branch chief in the Securities and Exchange Commission's Division of Corporate Finance, pleaded guilty to charges


US District Court Holds That Discretionary Tax Withholding is Exempt Under 16b-3
  • Katten Muchin Rosenman LLP
  • USA
  • May 12 2017

Several companies have received shareholder letters seeking to recover short-swing profits from insiders under Section 16(b) of the Securities


Court denies motion to dismiss for failure to plead fraud with adequate particularity
  • Katten Muchin Rosenman LLP
  • USA
  • June 26 2009

Plaintiffs alleged, among other things, that defendants violated the Securities and Exchange Act of 1934 by engaging in a scheme to defraud investors through the sale of unregistered securities and by making misrepresentations to induce plaintiffs to invest in defendant corporation


Heightened pleading requirement applies to Section 14(a) claims
  • Katten Muchin Rosenman LLP
  • USA
  • November 30 2007

Finding that the heightened pleading requirements of the Private Securities Litigation Reform Act (PSLRA) applied to claims under Section 14(a) of the Securities Exchange Act of 1934, an Illinois District Court dismissed plaintiff’s complaint


Withholding Tax Contrary to EU Law: The Brisal Case
  • Katten Muchin Rosenman LLP
  • European Union, United Kingdom
  • August 1 2016

On 13 July, the Court of Justice of the European Union (CJEU) released its decision in the Brisal case (C-1815). The Brisal case has potentially far


No rescission of investment contract absent finding of fraud
  • Katten Muchin Rosenman LLP
  • USA
  • June 5 2009

Plaintiffs sued an individual defendant in whose company they had invested, alleging violations of the Securities Exchange Act of 1934, breach of the investment contract, and common law fraud based upon defendant’s failure to disclose ongoing litigation at the time plaintiffs purchased their stock from the defendant for $1,050,000


Second Circuit dismisses suit over FBI’s wiretapping of marital conversations in securities fraud investigation
  • Katten Muchin Rosenman LLP
  • USA
  • May 29 2015

Federal Bureau of Investigation (FBI) wiretapping played an important role in the wide-ranging insider trading investigation and subsequent trials of


Exemption to short swing profit liability includes directors by deputization
  • Katten Muchin Rosenman LLP
  • USA
  • April 18 2008

Shareholders of Beacon Power Corporation (Beacon) brought a derivative action against, inter alia, investors who were “directors by deputization” and also held more than 10 of Beacon’s stock, alleging that such investors realized short swing profits in violation of Section 16(b) of the Securities Exchange Act of 1934


Corrective disclosure must provide new facts or fraud-revealing analysis
  • Katten Muchin Rosenman LLP
  • USA
  • August 22 2008

After a jury found that the defendant committed securities fraud under Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5, a district court granted the defendant’s motion for judgment as a matter of law


Directors subject to personal liability for alleged securities fraud
  • Katten Muchin Rosenman LLP
  • USA
  • September 10 2010

The principals of a pharmaceutical company could be held personally liable for securities fraud based on allegations that the defendants misled investors and used the firm as an alter ego for their own interests