http://www.abajournal.com/news/ en Copyright 2013 2013-06-19T13:30:18-06:00 http://www.abajournal.com/news/article/sec_accuses_former_general_counsel_of_investment_firm_of_covering_up_pensio/ The Securities and Exchange Commission has accused the former general counsel of a Detroit investment firm of trying to cover up the theft of pension fund money. Alicia Diaz, the former general counsel of MayfieldGentry Realty Advisors, is accused with three other executives of trying to hide the theft of… Securities Law Wed, 12 Jun 2013 09:22:01 -0500 44613.abajournal.com http://www.abajournal.com/magazine/article/former_sec_lawyer_uses_crowdfunding_to_bring_whistleblower_actions/ Business of Law, Corporate Law, Criminal Justice, White Collar Crime, Government Law, Labor & Employment, Securities Law, Opening Statements Sat, 01 Jun 2013 04:10:10 -0500 44206.abajournal.com http://www.abajournal.com/news/article/frank_quattrone_donates_15m_to_u_of_pennsylvania_for_legal_research_center/ A well-known investment banker who successfully fought charges in a securities case has donated $15 million to the University of Pennsylvania Law School. Frank Quattrone, through the Frank and Denise Quattrone Foundation, is funding the new Quattrone Center for the Fair Administration of Justice at Penn Law. It will help… Banking Law, Law Schools, Securities Law, States, Pennsylvania Wed, 29 May 2013 14:01:46 -0500 44392.abajournal.com http://www.abajournal.com/news/article/sec_accuses_pennsylvania_capital_of_securities_fraud_ex-mayors_positive_sta/ Public officials who make positive statements about the fiscal health of their financially troubled cities are now forewarned: The assertions could result in accusations of securities fraud. The Securities and Exchange Commission cited public statements by officials with Harrisburg, Penn., in a suit accusing the city of securities fraud, report… Government Law, Securities Law Tue, 07 May 2013 09:33:43 -0500 44063.abajournal.com http://www.abajournal.com/news/article/sec_reportedly_subpoenas_information_from_greenberg_traurig_and_a_lobbyist/ The Securities and Exchange Commission has reportedly issued subpoenas to Greenberg Traurig as the agency seeks more information about an investor alert issued by one of the law firm’s clients, a stock brokerage. Several anonymous sources told the Washington Post that the SEC subpoenaed Greenberg Traurig; one… Business of Law, Law Practice Management, Law Firms, Large Firm, Legislation & Lobbying, Securities Law Thu, 02 May 2013 07:50:53 -0500 44007.abajournal.com http://www.abajournal.com/news/article/law_firms_latest_bill_for_madoff_liquidation_is_50m_bringing_total_since_hi/ Since December 2008, when Bernard Madoff was arrested in a record-breaking Ponzi scheme operated under the guise of an investment firm, Irving Picard and his law firm have been handling the liquidation for the Securities Investor Protection Corp. A filing in federal court in Manhattan shows the latest bill from… Bankruptcy Law, Securities Law, Trials & Litigation, Attorney Fees, 2nd Circuit Court, States, New York Tue, 30 Apr 2013 10:47:12 -0500 43970.abajournal.com http://www.abajournal.com/news/article/credit-ratings_firm_seeks_dismissal_of_us_suit_says_its_statements_about_in/ In a motion to dismiss a civil suit by the U.S. Justice Department, Standard & Poor’s is arguing that its statements about independence and objectivity were classic puffery. The agency said such statements were too general and vague to form the basis for a fraud claim, report the Banking Law, Recession, Securities Law, Tort Law, Trials & Litigation Tue, 23 Apr 2013 07:18:59 -0500 43862.abajournal.com http://www.abajournal.com/news/article/privacy_protections_for_worker_social_media_accounts_could_be_trouble/ Amidst a growing trend of protecting individuals' social media accounts from employer scrutiny, securities regulators are trying to put the brakes on burgeoning privacy legislation that has been pondered in 35 states and enacted in at least five. Dozens of new bills have already been introduced this year. The problem… Corporate Law, Internet Law, Labor & Employment, Legislation & Lobbying, Securities Law Mon, 22 Apr 2013 16:55:54 -0500 43859.abajournal.com http://www.abajournal.com/news/article/company_sues_former_law_firm_says_failure_to_detect_issues_before_ipo_cost_/ A Florida-based company that sells health products over the Internet has sued its former law firm, contending that it lost millions because Shefsky & Froehlich failed to detect and inform its leaders, prior to going forward with an initial public offering, of corporate governance and capital structure issues. In the… Corporate Law, Law Firms, Midsize Firm, Mergers & Acquisitions, Securities Law, Trials & Litigation, 11th Circuit Court, States, Florida, Illinois Tue, 16 Apr 2013 12:35:48 -0500 43746.abajournal.com http://www.abajournal.com/news/article/2nd_circuit_blasts_sec_for_regrettable_inaction_in_massive_madoff_fraud_but/ Expressing sympathy for the victims of a record-breaking Ponzi scheme by Bernard Madoff, a federal appeals court on Wednesday blasted the Securities and Exchange Commission for "regrettable inaction" in addressing the fraud but said the SEC is nonetheless protected from suit. The… Consumer Law, Executive Branch, Securities Law, Trials & Litigation, Verdicts & Settlements, 2nd Circuit Court, States, New York Wed, 10 Apr 2013 14:26:39 -0500 43675.abajournal.com http://www.abajournal.com/news/article/sec_greenlights_social_media_sites_for_company_news_wont_pursue_netflix_chi/ Because the rules for corporate use of social media websites weren't clear, the U.S. Securities and Exchange Commission won't seek to impose regulatory sanctions on the CEO of Netflix Inc. over a Facebook post last July about the company's booming business. But the SEC released a copy of its investigation… Corporate Law, Internet Law, Media & Communications Law, Securities Law Tue, 02 Apr 2013 17:23:00 -0500 43537.abajournal.com http://www.abajournal.com/news/article/eleven_bingham_partners_jump_to_sidley_including_former_finra_enforcement_c/ Eleven partners in Bingham McCutchen’s securities-enforcement group are moving to Sidley & Austin. The New York Times DealBook blog says the departures are “a blow to the Boston-based Bingham, a 1,000-lawyer firm known for its securities-enforcement work.” The practice area is a money maker for law firms offering… Business of Law, Careers, Law Firms, Partners, Securities Law Tue, 02 Apr 2013 06:51:50 -0500 43517.abajournal.com http://www.abajournal.com/news/article/law_firms_offer_cybersecurity_advice_and_attorney-client_privilege_to_hacke/ Law firms are getting involved as companies investigate hacker incidents, providing attorney-client privilege to shield the findings in future lawsuits. The Wall Street Journal (sub. req.) has a story on the trend. In one example, Nationwide Insurance hired Ropes & Gray after a hacker obtained personal… Business of Law, Law Practice Management, Legal Technology, Internet Law, Law Firms, Science & Technology Law, Securities Law Tue, 02 Apr 2013 06:00:50 -0500 43507.abajournal.com http://www.abajournal.com/news/article/expert_in_legal-fee_fight_blasts_make-believe_game_over_cost_of_contract_la/ Even in the New York metropolitan area, the reasonable cost of hiring a contract lawyer from a staffing agency to do document review work in a securities class action case is, at most, $50 to $75 an hour, an expert said in a declaration (PDF) filed last month… Careers, Lawyer Pay, Corporate Law, Securities Law, Trials & Litigation, Attorney Fees, 2nd Circuit Court, States, New York Mon, 01 Apr 2013 12:38:23 -0500 43505.abajournal.com http://www.abajournal.com/news/article/us_attorney_asserts_jurisdiction_in_international_cases_because_of_computer/ U.S. Attorney Neil MacBride of the Eastern District of Virginia is claiming jurisdiction to pursue cases against alleged international copyright pirates and out-of-state securities fraud defendants, citing the location of computer servers in his district. The Associated Press explains. MacBride says he has jurisdiction over most securities… Attorney General, Criminal Justice, Criminal Procedure, Internet Law, Securities Law, States, Virginia Tue, 26 Mar 2013 06:00:54 -0500 43420.abajournal.com http://www.abajournal.com/news/article/prominent_law_grad_and_general_counsel_charged_in_claimed_13.2m_securities_/ A prominent businessman and law graduate who once headed Oregon's Republican party and was a candidate for state governor has been criminally charged in a securities fraud case. Craig Berkman, 71, who now lives in Florida, was arrested Tuesday at his Odessa home in a case filed by the U.S.… Administrative Law, Criminal Justice, White Collar Crime, Securities Law, Trials & Litigation, 2nd Circuit Court, States, District of Columbia, Florida, New York, Oregon Tue, 19 Mar 2013 16:50:27 -0500 43358.abajournal.com http://www.abajournal.com/news/article/former_general_counsel_will_pay_850k_to_settle_sec_civil_backdating_case/ A former general counsel of Mercury Interactive Corp. who was accused of helping backdate stock options has agreed to pay $850,000 to settle the civil case filed by the Securities and Exchange Commission. Susan Skaer did not admit or deny the allegations in the SEC complaint, report the Legal Ethics, Securities Law Mon, 18 Mar 2013 07:44:08 -0500 43317.abajournal.com http://www.abajournal.com/news/article/illinois_is_now_the_second_state_to_face_sec_accusations_of_securities_frau/ The Securities and Exchange Commission has accused Illinois of misleading investors about the financial health of public employees’ pension plans. According to the SEC, the alleged problems occurred mostly during the administration of disgraced former Gov. Rod Blagojevich, now serving a 14-year prison… Government Law, Securities Law Tue, 12 Mar 2013 09:04:56 -0500 43223.abajournal.com http://www.abajournal.com/news/article/cozen_global_securities_chief_leaps_to_schiff_in_3-lawyer_group/ The chief of the global securities practice at Cozen O'Connor has led a three-attorney group to Schiff Hardin. Ralph De Martino and F. Alec Orudjev will practice in the corporate and securities group, working out of Washington, D.C., and Cavas Pavri, practicing in the same group, will work primarily in… International Law, Law Firms, Midsize Firm, Partners, Securities Law, States, District of Columbia Mon, 11 Mar 2013 11:50:37 -0500 43197.abajournal.com http://www.abajournal.com/news/article/law_firm_billing_contract_lawyers_at_1k_hourly_must_reveal_what_they_were/ Ruling from the bench, a federal judge in Manhattan on Thursday gave a green light to a request for discovery by a class action activist concerning the wages paid by a law firm to the contract attorneys it billed out at $1,000 an hour. Citigroup Inc. agreed last year to… Careers, Lawyer Pay, Law Firms, Contract Attorneys, Solos/Small Firms, Securities Law, Trials & Litigation, Attorney Fees, Verdicts & Settlements, 2nd Circuit Court, States, New York Fri, 01 Mar 2013 14:05:02 -0600 43066.abajournal.com