Securities Law

1370 ABA Journal Securities Law articles.

Florida lawyer lied to hundreds of disabled trust clients, SEC says

The U.S. Securities and Exchange Commission is accusing a Florida attorney of defrauding at least 380 clients, most of whom have disabilities and are recipients of Medicaid or Social Security Supplemental Security Income benefits.

May 4, 2022 9:27 AM CDT

SEC alleges Las Vegas lawyer shot by FBI was part of a $449M Ponzi scheme

The U.S. Securities and Exchange Commission alleges in a lawsuit that a Las Vegas lawyer and his law firm were involved in a $449 million Ponzi scheme that sold investments in fictitious insurance tort settlements.

Apr 14, 2022 11:45 AM CDT

Did lawyers for Barclays cause $600M error?

Barclays, a British bank, estimates that it will suffer a loss of nearly $600 million after it issued securities that exceeded the amount registered in the United States by about $15 billion.

Mar 30, 2022 3:36 PM CDT

Lieff Cabraser loses appeal of sanction for ‘materially misleading’ description of fee study

A federal appeals court has affirmed a federal judge’s nonmonetary sanction against Lieff Cabraser Heimann & Bernstein, imposed for its incomplete description of a fee study.

Feb 11, 2022 10:57 AM CST

Lawyer on university faculty is charged with insider trading

A Chicago lawyer who was a faculty member at the Loyola University Chicago was indicted Monday for allegedly making a $110,000 profit by trading on insider information passed along by a college friend.

Jan 13, 2022 9:18 AM CST

Jury finds Elizabeth Holmes, CEO of blood-testing company Theranos, guilty of fraud

A jury on Monday found Elizabeth Holmes, the former CEO and founder of failed blood-testing startup Theranos, guilty on four of 11 federal charges related to fraud and conspiracy.

Jan 4, 2022 9:36 AM CST

Nonfungible tokens are all the rage now. What are they, and what should buyers watch for?

Along with rights to online video clips, nonfungible tokens can be used to represent ownership of all sorts of original digital items, including images, audio clips, collectible e-cards—even a copy of William Shatner’s tooth X-ray.

Oct 1, 2021 2:10 AM CDT

Judge scrutinizes BigLaw firm in ruling on evidence from blood-testing company Theranos that may be ‘irretrievably’ lost

The founder of blood-testing company Theranos can’t exclude government evidence at her fraud trial on the basis of lost, purportedly exculpatory evidence because her company was responsible for the destruction, a federal judge in San Jose, California, has ruled.

Aug 5, 2021 1:15 PM CDT

McDonald’s investor suit alleges Morgan Lewis rushed probe of then-CEO

A lawsuit filed by a McDonald’s investor alleges Morgan, Lewis & Bockius conducted a “grossly inadequate” investigation of inappropriate relationships by the company’s then-CEO, leading to his unwarranted “lavish severance…

Jul 30, 2021 2:10 PM CDT

US sells one-of-a-kind Wu-Tang Clan album to satisfy forfeiture judgment of ‘Pharma Bro’

Federal prosecutors in New York have sold a one-of-a-kind Wu-Tang Clan album to help satisfy a forfeiture judgment against “Pharma Bro” Martin Shkreli, a former drug company CEO convicted of securities fraud.

Jul 28, 2021 10:52 AM CDT

Is it a 3-3-3 Supreme Court? Barrett opinion gives Goldman Sachs partial win in class-action case

In another case with an unusual lineup, the U.S. Supreme Court partly ruled for Goldman Sachs on Monday in a securities class action alleging the investment bank made generic statements that maintained its inflated stock prices.

Jun 21, 2021 1:35 PM CDT

Afternoon Briefs: New York City law department hacked; Stanford Law wasn’t involved in fake flyer fracas

New York City law department is hacked

Lawyers in New York City’s law department have no remote access to the the computer system after a computer hack, a spokesperson said…

Jun 8, 2021 4:30 PM CDT

BigLaw partner is charged with securities fraud in connection with alleged Ponzi scheme

Baker, Donelson, Bearman, Caldwell & Berkowitz health care partner Jon Darrell Seawright has been charged along with a former lobbyist at the firm for their roles in an alleged Ponzi scheme involving fake timber purchases.

May 24, 2021 9:51 AM CDT

Plaintiffs law firm kicked off securities class action for failing to disclose client’s investment in short position

Plaintiffs law firm Robbins Geller Rudman & Dowd has been kicked off a securities class action alleging that investors lost money when a Mexico-based media company concealed a scheme to bribe soccer officials for broadcasting rights.

May 20, 2021 1:05 PM CDT

Legal malpractice payouts are the highest on record, insurance broker reports

Payouts for legal malpractice claims are at an all-time high, according to a new survey by insurance broker Ames & Gough. Ames & Gough surveyed 11 leading legal malpractice insurers about claims paid from 2019 to the middle of 2020.

May 18, 2021 8:57 AM CDT

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