We use cookies to customise content for your subscription and for analytics.
If you continue to browse Lexology, we will assume that you are happy to receive all our cookies. For further information please read our Cookie Policy.

Search results

Order by: most recent most popular relevance



Results:1-7 of 7

Recent Supreme Court decision clarifies key principles concerning withdrawal from criminal conspiracies
  • Foley Hoag LLP
  • USA
  • March 29 2013

Smith v. United States Has Significant Implications for White Collar Prosecutions In Smith v. United States, No. 11-8976 (Jan. 9, 2013), the Supreme


The Supreme Court holds that the “discovery rule” does not apply to SEC enforcement actions for financial penalties and affirms the dismissal of SEC claims as time-barred
  • Foley Hoag LLP
  • USA
  • March 7 2013

In Gabelli v. SEC, No. 11-1274 (Feb. 27, 2013), a unanimous Supreme Court issued a much anticipated decision on the statute of limitations for civil


Federal judge reconsiders securities claims against GE and identifies three categories of statements that are not actionable under federal securities laws
  • Foley Hoag LLP
  • USA
  • May 16 2012

In a consolidated class action in the Manhattan federal court, General Electric and more than 40 other defendants, including CEO Jeffrey Immelt, CFO Keith Sherin, other officers, directors and various underwriters are accused of violating the Securities Act of 1933 and the Exchange Act of 1934 by making false and misleading statements about GE’s business such as its ability to sell commercial paper and the value of its loan portfolio during the recent financial crisis and, specifically, in offering documents for GE’s secondary public offering in October 2008.


Second Circuit reverses convictions in data-theft prosecution and narrowly interprets federal criminal statutes with important intellectual property implications
  • Foley Hoag LLP
  • USA
  • April 21 2012

In February 2012, following oral argument, the U.S. Court of Appeals for the Second Circuit issued a brief order reversing Sergey Aleynikov’s convictions for violating the National Stolen Property Act, 18 U.S.C. 2314 (“NSPA”), and the Economic Espionage Act, 18 U.S.C. 1832(b) (“EEA”), and stating a longer opinion would follow.


$200m suit by hedge fund dismissed as beyond the reach of section 10(b); Second Circuit defines what deals are “domestic transactions” under federal securities law
  • Foley Hoag LLP
  • USA
  • March 19 2012

Earlier this month, in Absolute Activist Value Master Fund Ltd. et al. v. Ficeto et al., 11-cv-0221 (2d Cir. Mar. 1, 2012), the Court of Appeals for the Second Circuit affirmed the dismissal of a $200M fraud case brought by nine Cayman Island hedge funds that claimed to be the victims of a classic “pump-and-dump” scheme involving penny stocks in U.S. companies.


SEC v. Tambone: the First Circuit reverses course on what it means to “make” a statement under the securities laws
  • Foley Hoag LLP
  • USA
  • March 23 2010

The First Circuit’s en banc ruling in SEC v. Tambone, No. 07-1384 (Mar. 10, 2010), vacated a key part of a prior ruling by a three-judge panel, and provides important guidance on the scope of “primary violator” liability under Section 10(b) of the 1934 Exchange Act and Rule 10b-5 thereunder.


Justice Department seeks increased funding for fraud prevention and enforcement; financial, mortgage and healthcare fraud remain key priorities in FY 2011 budget
  • Foley Hoag LLP
  • USA
  • February 5 2010

Earlier this week, Attorney General Eric Holder announced that the President’s FY 2011 budget request includes a staggering $29.2B for the Justice Department, an increase over the actual FY 2010 budget appropriation of $1.5B in funding and 2,880 positions.