Wells Fargo Bank Northwest, N.A., v. RPK Capital XVI, L.L.C., et al. (the RPK Case) is a recent case that presents a cautionary tale to leasing companies in the market of leasing major aircraft parts to operators.
On June 13, 2011, the U.S. Supreme Court issued its ruling in Janus Capital Group, Inc. v. First Derivative Traders, 564 U.S. ___ (2011).
On June 13, 2011, the U.S. Supreme Court issued its ruling in Janus Capital Group, Inc. v. First Derivative Traders.
On June 15, 2011, the SEC charged Pegasus Investment Management, LLC, a registered investment adviser and the general partner of two private funds, and two of its officers in connection with undisclosed cash payments.
On May 5, 2011, FINRA announced that it fined Wells Fargo Advisors LLC $1 million for its failure to deliver prospectuses to customers purchasing mutual funds in 2009 and for delays in reporting material information, including arbitrations and complaints, about its current and former representatives.
The scope of securities fraud liability for service providers to publicly held companies (such as investment advisers and attorneys) may increase depending on the forthcoming decision of the U.S. Supreme Court in Janus Capital Group v. First Derivative Traders
On January 14, 2011, the SEC charged BNY Mellon Securities LLC, a formerly registered broker-dealer, for its failure to reasonably supervise the order desk manager on its institutional order desk and traders under his supervision from November 1999 through March 2008.
On February 3, 2011, the SEC charged AXA Rosenberg Group LLC ("ARG"), AXA Rosenberg Investment Management LLC ("ARIM") and Barr Rosenberg Research Center LLC ("BRRC") with securities fraud for concealing a significant error in the computer code of the quantitative investment model that they used to manage client assets.
On February 7, 2011, the SEC charged Alpine Woods Capital Investors, LLC, a registered investment adviser, and its chief executive officer, Samuel A. Lieber, for failing to (i) disclose the material impact that initial public offerings had on performance of two Alpine funds, (ii) implement policies for IPO allocations and (iii) adequately disclose risks related to IPOs.
On November 16, 2010, the SEC charged Thrasher Capital Management, LLC and James Perkins, its chief executive officer, for failing to make Thrasher's books and records available to the staff of the SEC and for untrue statements of material facts in Thrasher's Form ADV.