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 | United Kingdom | 4 Mar 2010
The Financial Services Authority (FSA) went to the Court of Appeal to seek clarification regarding its obligation to co-operate with the Securities and Exchange Commission (SEC).
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.
Locke Lord LLP | USA | 10 Nov 2009
Today, in the first criminal prosecution arising out of the subprime crisis, a jury acquitted two former Bear Stearns hedge fund managers, Matthew Tannin and Ralph Cioffi, of securities, wire and mail fraud.
Locke Lord LLP | USA | 9 Nov 2009
On October 5, 2009, the U.S. District Court for the Southern District of New York granted the defendants' motion to dismiss in Cornwell v. Credit Suisse on subject matter jurisdiction grounds.
Locke Lord LLP | USA | 17 Sep 2009
As previously reported on August 8, 2007, a jury convicted ex-Brocade CEO Greg Reyes for violating federal securities laws by failing to properly account for backdated options.
Locke Lord LLP | USA | 4 Sep 2009
On November 17, 2008, the Securities and Exchange Commission charged Dallas Mavericks' owner, Mark Cuban, with insider trading.