1375 ABA Journal Securities Law articles.
A civil lawsuit filed yesterday against two lawyers yesterday by the Securities and Exchange Commission may be a legal first.
The suit is apparently the first time the agency has…
Jun 15, 2007 4:48 PM CDT
The former managing partner of Katten Muchin Rosenman’s office in Washington, D.C., has settled a case alleging he bought stock based on confidential client information.
David Schwinger agreed to return…
Jun 14, 2007 7:55 PM CDT
American International Group has taken over a shareholder lawsuit against two former top executives.
The insurer claims former chief executive Maurice Greenberg and former chief financial officer Howard Smith manipulated…
Jun 14, 2007 3:21 PM CDT
Investors in GlaxoSmithKline have filed a lawsuit in New York federal court that claims the drug company misled them about the safety of a diabetes drug.
The suit says company…
Jun 13, 2007 6:07 PM CDT
U.S. Solicitor General Paul Clement solicited President Bush’s views before declining to file an amicus brief in a Supreme Court case brought by investors seeking to hold third parties liable…
Jun 13, 2007 5:37 PM CDT
The U.S. Solicitor General missed a midnight deadline to file an amicus brief supporting investors who want to hold third parties directly liable for helping commit accounting fraud.
The missed deadline indicates disagreement within the government over the issue of third-party liability, the Wall Street Journal reports (sub. req.). The Securities and Exchange Commission had asked the Justice Department to file the brief.
The Supreme Court case seeks to hold third parties liable as “primary violators” for joining in transactions that allegedly helped a cable TV company inflate its financial picture.
Jun 12, 2007 7:48 PM CDT
Wilson Sonsini Goodrich & Rosati fired one of its partners last fall, reportedly because he failed to warn the outside company he was advising about backdating stock options.
Christopher Mitchell was fired after high-tech company Sanmina-SCI Corp. announced it had improperly backdated most stock options since 1997, according to the Recorder. Sources told the legal newspaper he was targeted for failing to pick up on the problems.
The revelation is the latest embarrassment for Wilson Sonsini. Around half of the Silicon Valley companies under scrutiny for backdating stock options were clients of the law firm, according to the legal newspaper.
Jun 8, 2007 12:49 PM CDT
Citigroup Global Markets Inc. will pay $15.2 million to settle accusations it misled BellSouth employees about potential investment returns.
The firm will pay $12.2 million in restitution to more than…
Jun 7, 2007 3:39 PM CDT
A federal judge refused a former Enron executive’s request for a sentence of probation yesterday, imposing a sentence of two years in prison and a $125,000 fine.
Lawyers for Kevin…
Jun 5, 2007 8:06 PM CDT
It’s too late for Enron defendants, as plaintiffs pursue ‘scheme liability’
Jun 5, 2007 8:50 AM CDT
The Securities and Exchange Commission will side with investors seeking to hold third-party bankers liable for helping boost the stock price of a failing company.
The SEC has asked the…
Jun 4, 2007 7:29 PM CDT
The former general counsel of Hollinger International, accused of helping direct noncompete payments to other companies owned by company executives, is claiming at trial that he was unfamiliar with securities…
Jun 1, 2007 6:17 PM CDT
Four top partners from Milberg Weiss & Bershad met with federal prosecutors in Los Angeles on Wednesday to talk about settling charges that the firm paid kickbacks to lead class-action…
Jun 1, 2007 1:02 PM CDT
The Securities and Exchange Commission has filed civil fraud charges claiming the former general counsel of a California-based software maker participated in stock-options backdating.
The SEC claims former general counsel…
Jun 1, 2007 12:41 PM CDT
Securities class-action lawyer William S. Lerach has been telling clients that he will be leaving his San Diego law firm.
Lerach has sued high-profile companies such as AOL, Enron and…
May 31, 2007 6:04 PM CDT